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Marketing Plan Template Examples & Sample-Outline of Strategic Market Analysis
The foremost and toughest marketing hurdle to cross is writing an effective marketing plan. If you have a well-documented sample marketing plan or any marketing plan template then you can write a successful marketing plan even without any prior marketing plan making experience. Before writing your own marketing plan, one thing you must learn and that is marketing terminologies-that’s all you need to kick off your first ever marketing plan. This article will give a quick glance to a sample plan; by following the advice given below you many produce top level marketing paper for your business.
Before writing your marketing plan try to figure out the following questions, which are the most basic and crucial information about your business.
- What kind of products you are willing to sale? Are you offering any kind of service along with your sales business?
- Identify your target buyers who will be taking your service. What are the current demand scenario for our products in the existing market and what age range customers are taking the service
- What will be your marketing message you are planning to give to your potential customers. For example if you are selling any green energy product, then make a selling message like-high tech green products or the “best green energy products”-this is just an example.
- After you have successfully identified your target buyers and their age range, the most important thing is to sending your product message to them. Without telling your customers your marketing effort will end up in nowhere. Figure out the best advertising medium to reach the target audience. The medium can be TV, Internet, local newspapers etc.
Once you find the quality answer of the above mentioned questions, you are ready to write your marketing plan. Another important factor before writing marketing plan is to fix or be sure about your advertising budget. Without being sure about ad budget, it is not advisable to write any marketing plan.
The following are the key point you need to focus on while writing marketing plan. You also can use the following parameters as a sample or baseline for your plan. After being familiar with the key concepts with marketing plan, you will be confident enough to write the plan on your own. For additional help you may consult any friends in the relevant industry of your products or take help from marketing blogs and sites.The four areas you need to describe in a marketing plan. Keep in mind the following four things, and this is all you actually need.
- Executive summary
- Strategic plan focus areas
- Market product
- Marketing program
This is the staring part of any marketing plan. Here you need to address the four points:Company description, mission statement, service & product description, financial feasibility.
Company description-you need to write a brief description about your company’s founding date, type of services and products; no need to give details of our company’s mission. Make it within 200 words or less.
Mission Statement-every business plan has its mission statement, which is more or less a kind of psychological stand of a company. You just need to include that statement from business plan into marketing plan-that’s enough.
Products and Services-at first enlisted all the products and services offered by your company and write a short description about each products and services. Description must be precise and include only a few important product specifications. If your company is selling only a single product, then make a detailed description of that product.
Financial Feasibility-here you should not include anything about your financial plans. Financial feasibility should focus on only your business financial situation and what consequences may arises in case of a failure in your marketing venture-that’s all.
2.Strategic Focus Areas
Mission and Vision-there is a subtle difference between a company’s mission and vision. Mission is more related to your marketing target such as how much sales target you would like to achieve in a quarter or a fiscal year. So, mission is directly related to the practical part of your business. On the other hand vision is a long-term goal or motto of your company, where you want to take your company in the long-run. As an example of a vision of a restaurant, you can write that the company’s primary business vision is to attain the fastest customer service delivery record.
Objectives-marketing objectives and business objectives are almost inseparable and both should be taken into consideration with utmost importance while developing your business. When writing your marketing plan, specify our marketing objective by writing specifically mentioning your target. For example, if you have target of reaching 10,000 prospects in the first 6-month of the business, then include it in your objective. If your company is planning to sale over 100,000 USD in a quarter then mention it in your marketing objective.
Competitive Environment –for becoming a successful marketers you must identify your competitors and what type of competition you are going to make with them, specify it in competitive environment part of the plan.in this section you mainly need to specify if you are opting for direct or indirect completion with your competitors.
Market Situation Analysis –in this section of the plan you need to compare your products with your competing products and focus on the strength on your products as well as weakness on your cometitors. Determining your viable approach to reach the market segment of your products. For analysis, you can take help of two marketing tools: BCG Dot Matrix and SWOT analysis
Competitive Analysis-this section is not like the competitive environment section. It describes a detailed plan about marketing so that you can put up a successful competition against all the competing products available in the market.This section mainly handle with the market weakness of direct competition and gain the advantage over this current weakness to take a considerable market shares of your product.
3.Market Product Focus
Marketing Objectives-this is the most important part of the entire plan because in this section you write how you going to achieve all your marketing objectives and sales target. Make a list of each marketing objective and then state the ways you plan to accomplish your marketing goals. While writing this section be description as much as possible and also take into account any marketing constraints or obstacles which are likely to hamper your entire plan.
Product’s Target Markets-this is a detailed list of market-local, global, nation-wide-where you plan to market your product. Try to prioritize your market areas and also describe in details why a specific market is best for your product. Show a detailed information of your focus market facts and information in your plan.
Template Marketing Plan
Marketing Plan - 4 Components of a Marketing Strategy
Sample Internet Marketing Plan Video
Product Strategy-this very simple part of the entire plan, where you clearly state the description of the product and the reason behind choosing this specific product for marketing on behalf of your company. If you have a number of products to be marketed then state which specific product is likely to be the most popular in which target market. You also need to specify what are the strategies you have adopted to beat the competitors.
Product Price Strategy-this section describe the price of each product. Here, you must state your price strategy-low cost & higher sales or high cost & low sales method. Also specify your key sales points. For example if you think that the cheap product price going to do the trick for you then explain why you do think so. No matter which price strategy you choose try to justify the reason behind it in this section.
Product Promotion Strategy-this can be one of the most important breaking factors to your maketing journey. One wrong promotion strategy can do enough harm to the name of a company. Be careful and consult as many people as possible while writing this section. This section must clearly state the advertising medium for your products and also need to precisely state the product message you want to convey to all the customers. No matter what marketing message you want to give to customers it must be catchy and trust-worthy message and must be same in all advertising mediums.
Finally, let me give you a little piece of advice, there is no such thing in this world like perfect. When you will write your first marketing plan, you will make many mistakes-this is for sure. But review it at least twice once you finish the draft plan and if necessary consult a marketing friend or experts. Have faith in your plan and if your intuition say anything wrong about any section of your plan, listen to your intuition and verify your doubt with the market information. Good luck in your marketing venture!