Marketing Plan Identify the components of a marketing plan.

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Presentation transcript:

Marketing Plan Identify the components of a marketing plan

It’s Ok To Be Different Different organizations have different needs, products, and audiences Marketing-plan formats may vary

Marketing Plan Components Executive Summary Situation Analysis Desired Target Market Marketing Objectives Marketing Strategies and Programs Financial Plans Performance & Implementation Appendix

Executive Summary Introductions to the marketing plan. Allows reader to understand the purpose of the plan  Includes:  Background Information  Mission Statement  Introduction to Management team  Brief review of plan’s objective

Situation Analysis Determination of a firm’s current marketing situation Answers “Where do things stand now?” Snapshot of the current state of affairs Covers: ◦ The company itself ◦ Customers (target market) ◦ Competitors ◦ Partners ◦ External Factors (social/cultural, Deomgraphic, Economic, Technological, Politcal/legal

Desired Target Market Information on who they desire to reach Includes full target market description: ◦ Demographic ◦ Psychographic ◦ Behavioral ◦ Geographic

Marketing Objectives Outlines the specific marketing objectives that the company wants to achieve. Marketing Objectives=foundation for achieving sales and overall financial objectives

Marketing Objective (con’t) Should be SMART: ◦ Specific ◦ Measurable ◦ Achievable ◦ Realistic ◦ Time-Bound

Marketing Strategies & Programs Heart of the marketing plan 50% + of length of the plan Starts with general strategies ◦ Growth ◦ Stability ◦ Market Exit Includes schedules & responsibilities for all task involved

Marketing Strategies & Programs Includes schedules & responsibilities for all task involved ◦ Products ◦ Pricing ◦ Place ◦ Promotion

Financial Plans Financial plans details on the expected expenses and profits of the plan’s program

Performance and Implementation Expected Results How the plan will be measured Potential changes and adjustments

Appendix Includes charts, graphs, or miscellaneous materials Examples: press clippings, product photographs, estimates,

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