Sunday, 21 August 2011

Contents of the Marketing Plan

Developing Marketing Strategies and Plans>Product Planning>Contents of the Marketing Plan

The contents of the marketing plan are described below;-

1. Executive summary and table of contents.
The executive summary permits senior management to grasp the plan's major thrust. A table of contents that outlines the rest of the plan and all the supporting rationale and operational detail should follow the executive summary.

2. Situation analysis.
This section presents relevant background data on sales, costs, the market, competitors, and the various forces in the macro environment.
How is the market defined, how big is it, and how fast is it growing?
What are the relevant trends affecting the market?
What is the product offering and what are the critical issues facing the company?

Pertinent historical information can be included to provide context. All this information is used to carry out a SWOT (strengths, weaknesses, opportunities, threats) analysis.

3. Marketing strategy.
In marketing strategy, product manager defines the mission and marketing and financial objectives. The manager also defines those groups and needs that the market offerings are intended to satisfy.
The manager then establishes the product line's competitive positioning, which will inform the "game plan" to accomplish the plan's objectives. All this is done with inputs from other organisational areas, such as purchasing, manufacturing, sales, resources, to ensure that the company can provide proper support for effective implementation. The marketing strategy should be specific about the branding strategy and customer strategy that will be employed.

4. Financial projections.
Financial projections include a sales forecast, an expense forecast, and a break-even analysis. On the revenue side, the projections show the forecasted sales volume by month and product category.
On the expense side, the projections show the expected costs of marketing, broken down into finer categories. The break-even analysis shows how many units must be sold monthly to offset the monthly fixed costs and average per unit variable costs.

5. Implementation controls.
This section outlines the controls for monitoring and adjusting implementation of the plan. The goals and budget are spelled out for each month or quarter so management can review each period's results and take corrective action as needed.

A number of different internal and external measures must be taken to assess progress and suggest possible modifications. Some organisations include contingency plans outlining the steps management would take in response to specific environmental developments, such as price wars or strikes.

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