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Nov 1, 2014
A marketing plan outline and checklist that illustrates the steps needed to create a basic marketing plan.
© Marketing Padawan
MARKETING PLAN OUTLINE
o Finish your marketing plan first before writing the executive summary. Why? Because the executive summary is the “summary” of the marketing plan. What would you write in this part if you don’t have something to summarize first. o Contents of the executive summary includes brief information into the business’ industry, the business itself (the business’ history, vision, mission, philosophy, and their target market and competitors), the business’ marketing problems, the summary of the SWOT analysis, and the brief overview of the formulated marketing strategies complete with paragraphs talking about the duration of the marketing strategies and the costs that will be incurred in the process.
Current Marketing Situation
o Market description review: Analyze the industry in which the business is operating in. What are the current trends? What are the industry statistics (growth rate, etc.)? You can visit Euromonitor International or trendwatching.com to get these trends and statistics; o Competition review: List them down your competitors one by one followed by a short outline on the competitor’s business history, their geographical coverage, and their current observed marketing strategies. You can also include a competitive profile matrix to illustrate the business and its competitors better;
© Marketing Padawan
o Market share review: Present the business’ market share in the industry using a pie chart.
The following are the marketing mix review. The marketing mix are the 4 P’s of marketing namely product, price, place, promotions. o Product/service review: What are the business’ offered products/services? What are the product/service attributes? How does the customer see the product/service as a whole? o Price review: How are the business’ products or services priced? Do customers see the product as expensive and high- quality or cheap and inferior? How well does the business’ price fare with its competitors? o Place review: Are all of the business’ retail branches productive? If you are a manufacturing company, are the retail stores carrying your brand name have high inventory turnover? o Promotions review: What are the underlying promotional methods used by the business? Are they promoting the business through public relations practices or through the mainstream tri-media advertising (print, TV, and radio)? Is the business using digital marketing to gain brand or product awareness?
o Analyze the firm’s internal strengths, weaknesses and external opportunities, threats. Present these using a cross-bullet form in order to identify potential specific strategies that can be used later on.
© Marketing Padawan
o Create SMART (Specific, Measurable, Attainable, Result- oriented, Time-bound) major objectives followed by three minor objectives for each major objective.
o STP: Create the product/service’s segmentation, targeting, and positioning.
o USP: Create the product/service’s unique selling proposition.
o 4 P’s: Formulate the product/service’s marketing mix strategies for product, price, place, and promotions.
o Provide detailed action programs for the strategies formulated (the 4 P’s). Dictate who among in the organization will do this task and who will do this other task. Also, provide a timetable of events illustrated using a Gantt chart.
o Formulate a pro-forma budget statement for the forecasted expenses to be incurred for the implementation of the marketing strategies.
o Provide success meters or key performance indicators (KPIs) to determine the success of the marketing strategies.
o Provide also feedback mechanisms (e.g. customer survey forms) to gauge controls.
To view a more detailed guide on how to do marketing plans, please click here.