Marketing Plan Overview Plans vary widely 151 Series or HRCC

Executive Overview First and Last: First section of marketing plan, but written last Overview and summary of your plan for quick review by others (clients, shareholders, financiers, executives) Should BRIEFLY cover the following: Market Review Product Overview Competitive Overview SWOT Mission, Vision, Goals and Objectives Strategies for marketing Action Plan and Implementation Schedule

Market Review Characteristics, trends of the greater market: How big is the market? Who’s participating Is market poised to grow, decline?... What demand looks like Keep PEST and SWOT in mind Market Segmentation: Which segments exist Demographics, psychographics of the segments –Age, gender, income, needs, wants, spending habits, etc… Identification of Target Market

Competitive Overview Who are the competitors (if any) Information about them: Why they’re successful (or not) SWOT How to exploit their SWOT Their four P’s and how that helps you

PEST Political factors: –Regulatory issues relating to the product Economic factors: –Discretionary income of target market –Ability of your target market to make decision to purchase Social factors: –Social trends –Benefits of the product for target groups Technology factors: –How can technology influence your product –i.e., improve communication, improve visibility –Which technological factors affect your product Above factors will influence your SWOT…

SWOT Based on Demographics, psychographics, PEST, etc… what are: StrengthsWeaknesses OpportunitiesThreats Internal External

Mission, Vision, Goals Mission Statement: Statement of purpose What you do Vision: Most desirable future state Where you aim to be in the future Goals: SMART

Product The product and its purpose Features Current distribution channels Positioning within the market Current packaging

Price Current pricing Pricing of competition Pricing strategies Differential pricing of segments

Place Current distribution channels How to improve distribution channels How accessible are you How to improve it

Strategies: Promotion Advertising Public Relations and Publicity Promotions and Events (if any) Product marketing materials

Product Marketing Literature (Brochure) Things to keep in mind: Project the intended message Highlight benefits and features How literature will be used Who is the audience Quantity Where to print Cost of printing