The Marketing Plan is a highly detailed, heavily researched and, hopefully, well written report that many inside and possibly outside the organization will evaluate. In many respects, the Marketing Plan is the most important document produced by marketers as it not only helps to justify what has occurred in the past, but is critical for explaining where a company intends to go in the future.
The Marketing Plan is widely used by both large large corporate marketing departments and also by small startup companies. It is particularly important for marketers who seek funding for new projects or to expand existing products or services.
Purpose of having Marketing Plan:
- helps to fully understand the results of past marketing decisions
- helps to fully understand the market in which the business operates
- sets future goals and provides direction for future marketing efforts that everyone within the business should understand and support
- is a key component in obtaining funding to pursue new initiatives
- often helps to avoid costly mistakes
Main reasons why businesses undertake a Marketing Plan:
- Needed as part of the yearly planning process within the marketing functional area
- Needed for a specialized strategy to introduce something new, such as new product planning, entering new markets, or trying a new strategy to fix an existing problem
- Is a component within an overall business plan
SIMPLE 6 STEPS MARKETING PLAN
- Purpose and Mission
- Situational Analysis
- Marketing Strategy and Objectives
- Tactical Programs
- Budgets, Performance Analysis and Implementation
- Additional Consideration
There are many other ways to develop and format a marketing plan - this depends on the business.
This plan is aimed at individual products/services and product lines, however, it can be adapted fairly easily for use in planning one or more strategic business units. The page length suggested for each section represents a single-spaced typed format for a plan focused on a single product/service. Obviously for multi-product plans lengths will be somewhat longer.
It is assumed that anyone developing a Marketing Plan possesses a working understanding of marketing principles. If you do not, it is suggested you spend considerable time learning about basic marketing or simply hire someone who has the knowledge and can save you both: time & money.
GET YOUR MARKETING PLAN PREPARED BY MARKETING SPECIALIST TODAY
