Here is a simple way to create a marketing plan, just by using the steps below:
1. The Executive Summary
This is the area of the marketing plan that tells exactly what is happening and what the companys objectives are for the future. It provides an overview.
2. The Current Situation
This area of the marketing plan should include what is happening in the market in the moment, especially in regards to the current competition.
3. Trend Analysis
This area is included to describe any forecasts or what is predicted to happen with the products. It will especially discuss the why the market is expected to move.
4. Performance Analysis
This is a key area of this simple plan as it discusses the companys overall goals. It should also look at how the products are expected to be marketed. This area is ideal to include the strengths and weaknesses of a product, along with its market competitors. This section can also include the market share that the company is hoping to take.
5. Customer Summary
This is a vital section or area within the plan because it outlines the key customers for the product. This is th are to discus who the major customers will be. It should talk about key things such as demographics and how the company will concentrate on these customers to produce a sale.
6. Competitor Analysis
It can be at your discretion to include this as a separate area on the plan. It is here that a company should really go into depth about who their major competitors might be. Time should be spent discussing their strengths and weaknesses, along with the current market position that they have. Suggestions should be made on how to reduce the competitors market share.
7. Environmental Analysis
Not every company will look at the current environment at the moment to see what an impact the product will have. This can mean looking at the political environment as things might be stable in this area. The economic environment at the time should definitely be considered. It will also be important to look at the social and cultural implications that the products might have or the affect of these environments on the product. These days a product launch is also affected by the technological environment that also must be considered.
8. Marketing Strategy
The marketing strategy is the heart and soul of the marketing plan. In this area of the outline it is essential to discuss what is going to be done. A description should be given along with some time spent looking at the sales expected and at what percentage. This area can also look at the product from the customers view and describe how the customer will use the product and why they would want to buy it.
Use this time to describe any alternatives that might be necessary to think about before the company arrives at selecting the correct promotion strategy. This could include looking at alternatives or a better way of doing things. Does the product need to be rebranded or is repackaging needed? What about how you will promote it and at what price? These are all vital questions to answer in this area.
If youd like to create a marketing plan quickly and easily, consider using a marketing plan template. Watch this free video presentation to learn more:ttp://www.growthink.com/products/marketing-plan.
