Marketing Plan

Marketing Plan Components

1.      Executive Summary (1 Page or less)

Summary of the main goals and recommendations of the plan for management review, helping top management to find the plan's major points quickly.

2.      Current Marketing Situation Analysis

Market description  defines the market and major segments to be targeted, then reviews customer needs and factors in the marketing environment that may affect customer purchasing.

Product review  with a detailed description of the product and its characteristics

Competition Review  Identify at least three key competing solutions and offer a brief overview of their position in the market. Consider their market share, value propositions and strategies for product quality, pricing, distribution, promotion, etc.

*Note that substitutes from other firms or existing offerings from your firm are as valid as direct competition.

3.      SWOT Analysis

Assess major strengths and weaknesses of your product and company, as well as threats and opportunities that the product might face. Identify at least three considerations for each area of the analysis.

*This should help you anticipate important positive or negative developments that might have an impact on the firm and its strategies. 

4.      Objectives and issues

The marketing objectives that the company would like to attain during the following year and any key potential issues involved.

5.      Marketing strategy

The marketing strategy that helps you create customer value and relationships. How will the company create value for customers in order to capture value in return?

Value Proposition:  What benefits will the product promise to deliver? Answer the customer’s question of “Why should I buy your product rather than a competitor’s?”

Differentiation & Positioning: Describe the D&P and branding strategy for product.

Overall Product Strategy: Consider long-term goals and possible considerations for the company to make within the next two years.

Pricing:  Provide an explanation and rationale for decisions on pricing.

Place(ment):  Describe the distribution strategy for this product.

Promotion:  Identify at least three promotional tools to be used as part of this strategy.

6.      Action programs

Concrete marketing actions that you plan to take within the first year.

What  will be done?  When  will it be done?  Who  will do it?  How  will it be done?

7.      Budget

Estimate the expected revenues (forecasted number of units sold and the average net sales price) and expected costs of production, distribution, and marketing. The difference is the projected profit.

8.      Monitoring and control

The controls that will be used to monitor progress and review implementation results.

6.      Action programs

Concrete marketing actions that you plan to take within the first year.

What  will be done?  When  will it be done?  Who  will do it?  How  will it be done?