How to create a Successful Marketing Plan

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“Failing to plan is planning to fail”

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What is a Marketing Plan ?

A marketing plan is the blueprint or the map you intend to follow in order to achieve your goals. If you are planning for existing programs, the plan will incorporate the strengths of your current effort with needed changes and improvements. If the plan is for a brand new product or service, it will pull all the elements together for an effective start on marketing.

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Why have a marketing plan?

   To find out where you are To know where you’re going How to get there

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Some considerations See it as a process Form a team Keep it simple Develop a time-frame Give it a life Get feedback Have a simple revision process Consistent with mission statement

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What does the process involve?

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MARKETING PLAN DEFINITION

It ´ s a written plan Detailed that is used to and specific guide an organization’s It helps an organization coordinate the many marketing activities for a period of two steps and people that play a role in marketing.

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TACTICAL AND STRATEGIC PLANNING Marketing plans are what most experts call tactical or short term.

Long-term or strategic plans are needed. These three year or more plans are more general and less detailed plans

TACTICAL AND STRATEGIC PLANNING

Marketing plans take an in-depth look at the organization’s marketing mix and contain detailed budgets and timetables Strategic market plans are more concerned with the external marketing environment and the opportunities and challenges and long term

REQUIREMENTS FOR AN EFFECTIVE MARKETING PLAN A marketing plan must be rooted in careful research and analysis.

The marketing plan builds on situation analysis, marketing research, market segmentation, marketing strategy selection, positioning, and marketing objectives.

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REQUIREMENTS FOR AN EFFECTIVE MARKETING PLAN 1. Fact-Based.

2. Organized and Coordinated.

A marketing plan must meet the following 3. Programmed.

4. Budgeted.

5. Flexible.

6. Controllable.

criteria 7. Internally Consistent and Interrelated.

REQUIREMENTS FOR AN EFFECTIVE MARKETING PLAN

1. Fact-Based.

A marketing plan must build on previous research and analysis. A plan established on managerial hunches is like a house of cards—if one key assumption is proven wrong, the whole plan falls apart.

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REQUIREMENTS FOR AN EFFECTIVE MARKETING PLAN

2. Organized and Coordinated.

A marketing plan must be as specific and detailed as possible. It needs to clearly identify the departments and people responsible for specifictasks; it must also describe the promotional and other materials that are required. The required level of workmanship should be clarified Brought to you in association with

REQUIREMENTS FOR AN EFFECTIVE MARKETING PLAN

3. Programmed.

A marketing plan must be orchestrated so that activities are carefully sequenced. Timing is vitally important in marketing. Thus, a marketing plan must have a detailed, staged timetable.

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REQUIREMENTS FOR AN EFFECTIVE MARKETING PLAN

4. Budgeted

. Every marketing plan must be budgeted carefully. In fact, several tentative budgets should be prepared before the organization decides on a final figure.

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REQUIREMENTS FOR AN EFFECTIVE MARKETING PLAN

5. Flexible.

Unforeseen events will happen. Therefore, no plan should be cast in stone. The marketing plan should be adjusted if it appears that objectives will definitely not be unexpected competitive moves.

Components of a marketing plan  Mission Statement  Executive Summary  Internal Analysis  External Analysis  Objectives Marketing Strategies Identify Resources Implementation Plan Marketing Budget Evaluation Methods

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Mission Statement A clear, concise description of: The organizational identity What business is the organization really in Results the organization wants to accomplish

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Some considerations A mission statement describes who the organization is and what business it’s really in.

It’s what makes the organization go–reflects its internal and external perception.

It must be understood by everyone.

It drives the organization and dictates how things are done.

It should be kept simple.

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Mission Statement McDonalds Restaurants “Quality, Consistency, Cleanliness, Service.”

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Executive Summary An overview Readable and concise Summary of main objectives of the plan

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Internal Analysis  Background  Current status  Future directions  Current resources  Strengths and weaknesses

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External Analysis Economy Demographics Trends Competition Target market

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Opportunities and Threats Environment produces both Estimate probability Severe, not severe Very likely, very unlikely

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The Competition  Who they are  Product/service features  Pricing, packaging, promotion  Competitor strengths/weaknesses  How are you different?

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Customers and Target Markets  Current and potential customers  Customer requirements  Market clusters

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Marketing Strategies  Customers/target markets  Programs and services  Packaging  Pricing  Promotion

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Implementation Plan  Steps  Responsibility  Deadlines  Budget

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Marketing budget 

Advertising/media

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Direct mail

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Databases

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Printing/production

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Mailing Brought to you in association with

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Evaluating the marketing plan  Success measures  Completion of action dates  Accomplishment of goals and strategies  Results  New/repeat customers  Win rate on sales  Average size of contracts  Revenue

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Summary The marketing plan It’s a process!

It has discipline It results in a positive ROI

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