Contents of the Marketing Plan
Executive summary and table of contents:
The marketing plan should open with a brief summary of the plan’s main goals and recommendations. The executive summary permits senior management to grasp the plan’s major thrust. A table of contents shouldfollow the executive summary.
Current marketing situation:
This section presents relevant background data on sales,costs, profits, the market, competitors, distribution, and the macro-environment. The dataare drawn from a product fact book maintained by the product manager. (For your reportyou need to draw on secondary data. This is where the internet will be very useful ingathering the data.)
Opportunity and issue analysis:
After summarizing the current marketing situation, the product manager proceeds to identify the major opportunities/threats, strengths/weaknesses, and issues facing the product line.Goals and
Objectives and issues:
Once the product manager has summarized the issues,he or she must decide on the plan’s
financial and marketing objectives.Target Market:
Provide an explanation of segmentation, targeting and positioningdecisions. A quantifiable analysis of the market and the segments to be targeted for themarketing strategy proposed is necessary to support you customer base for the strategy.
This section can be divided several ways. It should at least have atarget Market Section and a Marketing program section including discussion on Price,Place, Product, and Promotion (Marketing Mix),The product manager now outlines the broad marketing strategy or “game plan” toaccomplish the plan’s objectives. In developing the strategy, the product manager talks tothe purchasing and manufacturing people to confirm that they are able to buy enoughmaterial and produce enough units to meet the target sales volume levels. (For a service,the human resources people and mid to top management is consulted) The productmanager also needs to talk to the sales manager to obtain sufficient sales force supportand to the financial officer to obtain sufficient funds for advertising and promotion.
Action programs or
The Marketing plan must specify the broadmarketing program for achieving the business objectives. Each marketing strategyelement must be elaborated to answer these questions: What will be done? When will it be done? Who will do it? How much will it cost? (This can be done with a projecttime/project plan sheet, and a budget. Remember the budget outline the funds necessaryto implement the Marketing Plan not develop the product/service)
Projects profit and loss statement or
: Action plans allow the productmanager to build a supporting budget. On the revenue side, this budget shows theforecasted sales volume in units and the average price. On the expense side, it shows thecost of producing the marketing plan.