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Marketing Plan Outline

1. Executive Summary

The executive summary is a synopsis of the overall marketing plan. It should provide an overview of the plan including goal/objectives, strategy, implementation issues and expected outcomes. The executive summary should be the last part of the marketing plan you write.

2. Situation Analysis

The situation analysis helps you to understand your current business situation. It includes a SWOT analysis and consists of information covering both a) the External environment: the uncontrollable factors that affect business operations, and b) the Internal environment: an objective evaluation of internal strengths and weaknesses. 2.1. The Internal Environment

2.1.1. Resource Capabilities

This section should include a review of anticipated organizational resources including:

• Financial resources

• Human resources

• Manufacturing/production resources

• R&D resources

2.1.2. Current Customer Environment

Questions to ask for this section:

• Who are the current customers?

• What do customers do with the firm’s products?

• Where do customers purchase the firm’s products?

• When do customers purchase the firm’s products?

• Why and how do customers select the firm’s products?

• Why do potential customers not purchase the firm’s products?

2.1.3. Current Marketing Practices

Describe the company’s current marketing activities, strategy and performance to date with respect to products, pricing, distribution and promotion. What is working well and what is not. Describe current performance (sale volume, market share, profitability, awareness, etc.) How is the company performing in comparison to competitors?

2.2. Market Summary

2.2.1. Market Demographics

Size, scope and share of the current market, sales history of all products and their market share.

2.2.2. Market Needs

Include the marketing potential, current gaps in supply and demand

2.2.3. Market Trends

Include trends in industry use patters, end-use patterns, frequency, quantity and timing of purchase, buying procedures and practices, service types

2.2.4. Market Growth

What does the current market look like overall, how has it grown, how is it growing. Identify the general economic conditions of the country, region, state or local area where the firm’s target customers are located. How are these conditions related to customer’s ability to purchase the products?

2.2.5. Government and Social

2.2.5.1. Political Trends

Identify any political activities affecting the firm or the industry with respect to changes in elected officials (domestic or foreign), potential regulations favored by the elected officials, industry groups, political action committees or consumer advocacy groups.

2.2.5.2. Legal and Regulatory Issues

Identify any changes in international, federal, state or local laws and regulations affecting the firm’s or industry’s marketing activities.

2.2.5.3. Technological Advancements

How have recent technological advancements affected the firm’s customers with respect to needs/wants/preferences, access to information, the timing and location of purchase decisions, the ability to compare competing product offerings, or the ability to conduct transactions more effectively or efficiently?

2.2.5.4. Sociocultural Trends

Describe any changes in society’s demographics, values and lifestyles that affect the firm or the industry.

2.3. SWOT Analysis

2.3.1. Strengths

List product/company strengths

• How do these strengths enable the firm to meet customer needs?

• How do these strengths differentiate the firm from its competitors?

2.3.2. Weaknesses

List product/company weaknesses

• How do these weaknesses prevent the firm from meeting customer’s needs?

• How do these weaknesses negatively differentiate the firm from its competitors?

2.3.3. Opportunities

List the product/company opportunities

• How are these opportunities related to serving customer’s needs?

• What is the time horizon of each opportunity?

2.3.4. Threats

List the product/company threats

• How are these threats related to serving customer needs?

• What is the time horizon of each threat?

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2.4. Competition

Who are the company’s competitors?

• What are their strengths and liabilities?

• What are their future strategies likely to be?

How difficult is it to enter this market?

Can you keep other competitors from entering the market?

2.5. Product Offering

Describe the products and/or services the company is offering

2.6. Keys to Success

What are the factors that will be key to the success of your product or service?

2.7. Critical Issues

What is critical to the success of your product or service?

3. Marketing Strategy

3.1. Mission

What is the mission of the company?

3.2. Marketing Goals & Objectives

List your goals & objectives. For each broad, motivational and somewhat vague goal you should have two to three objectives that contain a specific and measurable outcome.

3.3. Financial Objectives

What is the target state of sales? What profits are you aiming for? What increase in profits over a period of time?

3.4. Target Markets

List and describe your target markets

3.5. Positioning

What is your positioning statement?

• An expression of how a given product, service or brand fills a particular consumer need in a way that competitors don’t.

4. Marketing Tactics

4.1. Product

This section may include:

• Brand name, packaging, logo design

• Major features and benefits

• Supplemental products (including customer service strategy)

4.2. Pricing

This section may include:

• Overall pricing strategy and pricing objectives

• Price comparison to competition

• Price connection to differentiation/positioning strategy

• Specific pricing tactics (discounts, incentives, financing offerings, etc.)

4.3. Distribution

This section may include:

• Overall supply chain strategy

• Channels and intermediaries or partners to be used

• Connection to differentiation/positioning strategy

• Strategies to ensure channel support (slotting fees, guarantees, bonuses, etc.)

4.4. Integrated Marketing Communications

This section will outline your marketing communications strategy, objectives and budgets:

• Consumer promotion elements o Advertising strategy (digital & traditional, paid & unpaid) o Public relations/publicity strategy o Personal selling strategy o Consumer sales promotion (pull) strategy

• Trade/business to business promotion elements o Advertising strategy (digital & traditional, paid & unpaid) o Public relations/publicity strategy o Personal selling strategy o Trade sales promotion (push) strategy

4.5. Marketing Research

• This section should give an overview of marketing research that has been conducted, results, how it factored into the product and marketing strategy. Also include plans for additional or on-going market research

5. Financials

5.1. Break-Even Analysis

The break-even analysis is used to show when your business will be able to cover all its expenses and begin to show a profit. Identify start-up costs to help determine sales revenue needed to continue to pay on-going expenses.

5.2. Sales Forecast

Include your monthly or yearly sales forecast for a period of time based on your research, plans and assumptions.

5.3. Expense Forecast

Include expenses over the same period as your sales forecast to include advertising, marketing, overhead and other expenses.

6. Evaluation and Controls

6.1. Implementation

Include the specific activities, person or department responsible, start and end date and budget required.

Milestone/Activity Start Date End Date Budget Person/Department Responsible

6.2. Input Controls

What type of controls must be in place before the marketing plan can be implemented?

• Financial resources

• Capital expenditures

• Additional research and development

• Additional human resources

What type of process controls will be needed during the execution of the marketing plan?

• Management training

• Revised employee evaluation/compensation

• Internal communication activities

6.3. Output Controls

Describe the types of output controls that will be used to measure marketing performance and compare it to stated marketing objectives during and after the execution of the marketing plan.

• Overall performance standards: sales, sales volume, market share, share of customer, profitability, customer satisfaction, customer retention or other customer related metrics

• Product performance standards: Product specifications, core product quality, supplemental product quality, experiential quality, new product innovation and positioning

• Price performance standards (optional): revenue targets, supply/demand balance, price elasticity, yield management or metrics based on specific price adjustments

• Distribution performance standards (optional): Distribution effectiveness/efficiency, supply chain integration, value, relationship maintenance, outsourcing or direct distribution performance

• IMC performance standards (optional): communication objectives, brand awareness, recognition or recall, campaign reach, frequency, impressions, purchase intentions, public relations, sales and sales promotion effectiveness

6.4. Contingency Planning

Discuss contingencies – what action should or would be taken if conditions and assumptions used in this plan change. What alternative strategies were considered and rejected?