Marketing Plan

A marketing plan may be part of an overall business plan. Solid marketing strategy is the foundation of a well-written marketing plan. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use.

Marketing planning process

Marketing process can be realized by the marketing mix in step 4. The last step in the process is the marketing controlling. In most organizations, "strategic planning" is an annual process, typically covering just the year ahead. Occasionally, a few organizations may look at a practical plan which stretches three or more years ahead. To be most effective, the plan has to be formalized, usually in written form, as a formal "marketing plan." The essence of the process is that it moves from the general to the specific, from the vision to the mission to the goals to the corporate objectives of the organization, then down to the individual action plans for each part of the marketing program. It is also an interactive process, so that the draft output of each stage is checked to see what impact it has on the earlier stages, and is amended

Contents of marketing planning process

A marketing plan for a small business typically includes Small Business Administration Description of competitors, including the level of demand for the product or service and the strengths and weaknesses of competitors 1. Description of the product or service, including special features Marketing budget, including the advertising and promotional plan

2.

3. Description of the business location, including advantages and disadvantages for marketing 4. 5. Pricing strategy Market Segmentation

Medium-sized and large organizations

The main contents of a marketing plan are: 1. 2. Executive Summary Situational Analysis Opportunities / Issue Analysis - SWOT Analysis Objectives Strategy

3.
4. 5.

6. Action Program (the operational marketing plan itself for the period under review)
7. 8. Financial Forecast Controls

In detail, a complete marketing plan typically includes: 1. 2. Title page Executive Summary Current Situation - Macroenvironment

3.

economy legal government technology ecological sociocultural supply chain Current Situation - Market Analysis market definition market size market segmentation industry structure and strategic groupings Porter 5 forces analysis competition and market share competitors' strengths and weaknesses market trends Current Situation Consumer Analysis nature of the buying decision

4.

5.

participants demographics psychographics buyer motivation and expectations loyalty segments Current Situation Internal company resources

6.

financial people time skills mission statement and vision statement corporate objectives financial objective marketing objectives long term objectives description of the basic business philosophy

objectives

corporate culture Summary of Situation Analysis external threats external opportunities internal strengths internal weaknesses Critical success factors in the industry our sustainable competitive advantage Marketing research information requirements research methodology research results Marketing Strategy - Product product mix product strengths and weaknesses

7.

8.

9.

perceptual mapping

product life cycle management and new product development Brand name, brand image, and brand equity the augmented product product portfolio analysis

B.C.G. Analysis contribution margin analysis G.E. Multi Factoral analysis Quality Function Deployment

10. Marketing Strategy segmented marketing actions and market share objectives

by product, by customer segment, by geographical market, by distribution channel. Marketing Strategy - Price pricing objectives pricing method (e.g.: cost plus, demand based, or competitor indexing) pricing strategy (e.g.: skimming, or penetration) discounts and allowances price elasticity and customer sensitivity price zoning break even analysis at various prices Marketing Strategy - promotion promotional goals promotional mix advertising reach, frequency, flights, theme, and media sales force requirements, techniques, and management sales promotion publicity and public relations electronic promotion (e.g.: Web, or telephone) word of mouth marketing (buzz) viral marketing Marketing Strategy - Distribution geographical coverage

11.

12.

13.

distribution channels physical distribution and logistics electronic distribution Implementation personnel requirements

14.

assign responsibilities give incentives training on selling methods

financial requirements management information systems requirements month-by-month agenda

PERT or critical path analysis

monitoring results and benchmarks adjustment mechanism contingencies (What if's) Financial Summary assumptions pro-forma monthly income statement contribution margin analysis breakeven analysis Monte Carlo method ISI: Internet Strategic Intelligence Scenarios Prediction of Future Scenarios Plan of Action for each Scenario Appendix pictures and specifications of the new product results from research already completed

15.

16.

17.