Marketing Plan

How to Develop an Effective Destination Marketing Plan

Author: Vicki L. Olton

The Development and Structure of a Marketing Plan: Towards the Development of Marketing Strategies

1. The Situation Analysis 

In the planning process there are steps that must be taken prior to the development of the marketing strategies; the first one is conducting a situation analysis. A situation analysis is 'the overall process of collecting and interpreting internal, competitive and environmental information.' It presents a summary of these environments and summarizes the company's current marketing objectives and performance in the market. Through the situation analysis business is provided with a systematic way of viewing marketing activities by analysing the customer, strengths, weaknesses, opportunities and threats (SWOT) in relation to the competition. The situation analysis according to Gartrell includes internal, external and customer analyses, also known as the product, position, and prospect analyses.

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The product analysis includes a review of the current objectives, strategies, and company performance. Product capabilities are examined as well as the limitations of the tourist product. The whole destination and its facilities are examined to determine what is there to be offered to the potential traveller. This analysis eliminates poor performance since through this the marketing goals and objectives are reassessed in order to determine their effectiveness. 

Second is the position analysis, which addresses issues such as how the destination is 'perceived' by the market, an analysis of the strength and weakness and how these can be compared to the threats and opportunities in the external environment, as well as the previous success of the destination shown in statistical reports. Also, the position of the destination in relation to the marketplace, the competitors' products, services and their position in the market are examined. Position is important, since marketing strategies are developed based on the kind of image that the company expects to maintain in the eyes of the customer. 

Next is the prospect analysis also known as the customer analysis, which involves the selection of the best target markets, likely to increase the usage of the destination's products and services. In this analysis factors like potential demand in certain markets, the criteria for selecting the competition, emerging markets, and what political, social and economical factor may influence the markets are examined. 

It must be noted that one of the major steps for conducting the situation analysis is the collection of research. Research is pertinent because it is the tool that allows the organisation to become aware of the customer needs, wants and preferences. Marketing research 'monitors and evaluates marketing actions and performance, and communicates the findings and implications to management'. Its importance is even more highlighted since it allows for the collection of the necessary data and information to conduct a thorough prospect analysis. In an effort to thoroughly collect accurate and up-to-date data and information from the external environment, an organisation should also have strong marketing intelligence. Marketing intelligence includes 'everyday information about developments in the marketing environment that helps managers prepare and adjust marketing plans and short-run tactics.' 

Besides, the product, position and prospect analyses, Gartrell speaks of a fourth, known as the promotional analysis, which examines the image of the destination in comparison to the competition and the allocation of resources of the two destinations. The bureau's marketing budget, sales material and marketing programs are also compared to that of the competition. 

On completion of the situation analysis, this information is fed into the SWOT analysis, which provides a framework for viewing the company's actual strategic position and developing appropriate marketing strategies. When performed correctly, 'it can be especially useful in uncovering strategic advantages that can be leveraged in the firm's marketing strategy'.

2. Program Planning: Development of Marketing Objectives and Strategies

After analysing the information presented in the situation analysis, the next step is to develop effective marketing strategies and in order to do so, marketing objectives must be developed first. This step is a very vital part of marketing planning because without set objectives the marketer is unable to 'measure their success in fulfilling the marketing strategy'. 

Marketing objectives according to Malcolm H.B McDonald are generally concerned with the 4P's. Therefore, marketing objectives should be set for each one of these variables of the 4P's and then the most effective strategies or means of achieving the marketing objectives should be developed for each variable of the marketing mix. 

The first variable, 'product', focuses on developing the right product and satisfying the needs of the target market. A product is 'anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. It includes physical objects, services, places, organisations, and ideas.' In the tourism industry, the product is 'intangible, variable, inseparable and perishable'. The product is more of an experience put together in a package. 

The 'place' element on the other hand, refers to the channel distribution. It is imperative that a product be available to the customer and in order to do so there must be a channel of distribution that will bring the customer to the product as opposed to taking the product to the customer. This channel usually consists of 'travel agents; tour wholesalers; specialists; hotel representatives; national, state and local tourist agencies; the global distribution systems; the internet; and concierges'. They must be very knowledgeable about the destination because they represent the main source of information for the tourists.

In order for a traveller to know of product offerings of a destination and make the decision to travel to that destination, continuous communication with present and potential travellers is necessary. On developing effective communication strategies, the target audience must be understood and the most important communication channels for this audience must be known. Secondly, communication objectives must be developed. The response sought from the target market must be identified through objectives. 

It is believed that since the tourist product is intangible and cannot be tested beforehand, promotion 'acts as the product as far as the potential tourist or leisure consumer is concerned' since through this, the customer receives a mental image of the destination, as its experiences are promoted. Images are portrayed through advertising and promotion as the only means of pushing the potential tourist to make a purchase decision. Therefore in tourism marketing heavy interest is placed on the promotional efforts of the bureau. 

Ferrell &; Hartline make reference to the classic AIDA (Attention, Interest, Desire, Action) model, which sets the basis for the development of the communication or promotional objectives. The model holds that the first goal of the communication campaign is to attract the attention of the target audience. Interest in the product must then be built through telling the customer about the components of the product. If the product matches the needs of the customer, desire for the product is stimulated, which pushes the customer toward actually purchasing the package. 

After setting the communication goals, the product must be shown to the target audience and the ways to do so are as follows:

1) Advertising - This refers to the use of information to 'persuade consumers to take a desired action toward a particular product'. The main purpose of the advertising plan is to ultimately increase profits and sales for the company and also 'to provide information that will change consumers' mental and behavioral responses in a manner favored by the advertiser'. When setting advertising objectives, the overall marketing objectives must be used as a base. 

2) Public Relations – This refers to 'the process by which we create a positive image and customer preference through third party endorsements.' The major activities of public relations include, press relations, product publicity, corporate communications and counselling.

3) Sales Promotion – This concerns 'short-term incentives to encourage the purchase or sales'

Other communication strategy options include travel, trade shows, presentations, non-print media advertising, familiarisation tours, event hosting, site inspections, cooperative advertising and direct sales. In sum, for each communication medium selected, measurable objectives and detailed strategies must be developed.

The final variable of the marketing mix is price. Price refers to that of the overall package that has been put together for the market and includes issues like car rentals, hotel rates, transportation rates and possibly air fare.

3. Implementation

After the marketing strategies have been developed the programmes must be coordinated in an effort to achieve the plan's goals and meet its objectives. Timing is a vital factor of consideration during the implementation stage. It 'affects the placement of advertising and the degree of impact the marketing effort will have on the targeted market'. 

Evaluating Marketing Strategy Effectiveness

4. Evaluation

After careful planning and implementation of the marketing strategies, they must be evaluated in order to determine how successful they have been in achieving the expected or projected. The strategies must be thoroughly examined so that appropriate adjustments may be made. Should marketing strategies prove to be ineffective, the redevelopment of objectives and or new positioning strategies may be necessary. 

During the evaluation process the firm 'tracks results and monitors new developments in the environment'. Constant changes in the environment might also force the marketer to adjust the marketing strategies in order to better attract the traveller. 

Gartrell states that in evaluating marketing strategies employed in a marketing plan, first results must be quantifiable. In addition, weekly, quarterly, or monthly results should be used as benchmarks for evaluating the plan\'s effectiveness. Besides meeting the objectives of the plan, there are a set of measurement criteria that must be used in order to determine the effectiveness of the programs implemented. These include: 'total number of visitors to area, average length of stay, room nights booked / used, total economic impact and the total room-nights'. 

In addition, other measurements known as process variables like: 'number of trade/travel shows attended, number of prospects/leads, quantity of brochures distributed, consumer reaction to brochures, number of familiarisation tours, number of participants at familiarisation tourism, number of ads placed, number of travel agents contacted, total number of visitor inquiries, number of direct mail programs, distribution of visitor inquiries, number of media kits mailed, number of editorial inches in publications and total number of direct mail pieces distributed. 

Undoubtedly, in order to make marketing programs a success, large funds must be invested into the communication strategies plan. This is why Gartrell highlights that for bureaus, 'return on the investment' is yet another variable for measuring the success of marketing programs. The best way then to measure effectiveness is to examine the end result of the marketing campaign by using indicators of success generated by a plan, like 'visitor expenditures, economic impact assessment and tourism employment'. 

Simon Kirby and Mark Richardson from the University of Central England mention that measuring effectiveness in marketing, calls for an analysis of the effectiveness 'of each element of the marketing communication mix…' 

The communication mix as mentioned, involves communication vehicles such as advertising, public relations and sales promotion activities. In order to evaluate advertising effectiveness, since Nylen believes that advertising leads to sales, tourist arrivals in this case, then the more advertising done the more 'sales' there should be. Therefore, increased tourist arrivals can be used as a measurement of advertising effectiveness. Since print or broadcast media can also be part of the advertising plan, Nylen adds that although the impact of this kind of advertising might be difficult, it is still pertinent to set 'expected performance levels that can serve as evaluation standards'. 

It is also believed that the effectiveness of the promotional tools in the communication mix also varies with the stages of the 'Tourism Area Life Cycle' (TALC). In other words, at certain stages of the TALC certain communication strategies will naturally be ineffective. With the TALC, it is believed that the tourist destination, 'moves from evolution through involvement, development, consolidation before reaching stagnation'. In other words, during the introduction stage, advertising and sales promotion are extremely pertinent in creating an extremely high level of awareness. In the growth stage on the other hand, advertising and public relations are to remain considerably high, while slightly decreasing personal selling. Next is the mature stage, during which sales promotion is again of great importance as compared with advertising. In the last stage, known as the decline stage, sales promotions must be kept strong and 'advertising is kept at a remind level'. Managers and marketers must therefore be aware of which stage they are at in the tourism product life cycle when developing communication strategies, in order to be more competitive and improve the sustainability of the industry.

Clearly, companies have control over the development of effective marketing strategies, but as mentioned, in other instances, the external environment literally weakens this control. The external environment of marketing consists of the microenvironment and the macro-environment. The microenvironment is that part of the external environment which directly influences the organisation. The macro environment on the other hand, 'refers to the broad environment outside an organization\'s industry and market. It is generally beyond the influence of the individual organization' as it contains technological, economical, environmental and political influences that 'affect the level and patterns of demand' for prodcuts. 

Article Source: http://www.articlesbase.com/marketing-articles/how-to-develop-an-effective-destination-marketing-plan-85464.html

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Marketing Plan

A Common Marketing Plan Outline for a Small Home Based Business Venture

Author: Brad Keet

What is a Marketing Plan?

A marketing plan consists of a list of actions needed to attain marketing targets. It might be for a product, a service or a brand. There are marketing plans for short term targets - 1 year, and long term goals - five years.

A marketing plan could be part of an overall business plan format. A good marketing strategy is the bedrock of a good marketing plan.

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Why does a Home Business necessitate a Marketing Plan?

A marketing plan can assist a home business venture owner to focus his marketing efforts. It ensures methodical technique to providing products and services to fulfill and satisfy customers' needs.

How to formulate a Marketing Plan

Drawing up a marketing plan is not that cumbersome. Center on the content and do not fret about the writing style. Center on the targets and the efforts required to attain them need to be stated clearly in the marketing plan. Take note that a sound marketing plan sets clear, realistic, achievable  and measurable targets. It should contain deadlines, a budget and allotment of  responsibilities.

Marketing Plan Outline

A common marketing plan outline might consist of these topics:

Current Market Analysis

Explain the current market condition which the business is in. It can later be used as a benchmark to tweak the marketing plan in the future. By using a marketing plan SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis and also the PEST (Political, Economic, Social, Technological) analysis tools, write a brief description of the current product or service available, the marketing boons and obstacles the business might chance upon. Ponder over the threats posed by competitors and also study other factors that might affect the business in the year to come. This may aid in the development of strategies in the future.

Target Market

Definitely every product or service requires a market. This explains why customer analysis in marketing plans is essential to its success. The product could be directed at the online market as well as the offline market. It could be targeted at the general public or it could be targeted at a niche market. For an online market the analysis should include reasons why people shop online. Once a target market is determined, write a target market profile based on demographics and include selection benchmarks.

Marketing Objectives

Express the company's marketing targets for the coming year. The goals should be specific, realistic and measurable in order to gauge the marketing progress. Avoid vague statements such as, 'Increase indoor sales.' Incorporate specifics instead - 'Increase indoor sales by 25'

Strategies to Achieving Objectives

If the marketing aim is to boost indoor sales by 25 then a strategy must to be formulated to meet this objective. For example, there could be special a promotion for walk-in customers. This promotion can be marketed through an emailed weekly newsletter to buyers. The strategies should be extensive and cover the 4P's of marketing - Price, Product, Place, Promotion.

Marketing Budget

Exercising marketing strategies to reach marketing objectives costs money. Create a breakdown of marketing concerned expenses associated with the strategies. Have a look at the numbers and decide if it is too large a figure. Do not be afraid to lower or revise the budget until a practicable figure is attained.

Keep in mind that a marketing plan has to remain an ongoing process throughout the life of a business venture. Marketing plans should be adaptable to changes in environment so as to remain relevant. 

Article Source: http://www.articlesbase.com/home-business-articles/a-common-marketing-plan-outline-for-a-small-home-based-business-venture-566951.html

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How to Evaluate the Effectiveness of Your Internet Marketing Plans

Author: David Rodriguez

As an internet marketer, you need to know how your marketing plans are working. Many experts in the industry recommend having some detailed marketing plans to follow. Some of the problems among marketers are that they lack the discipline to follow such plans.

In any profession, discipline plays an important role. The ability to follow a marketing plan in our industry is critical, since that's what's differentiates the top earners from the dreamers.

Here comes the important question:

How do I evaluate my marketing plans?

First of all, I'm assuming you have such plans already in place, and all you need to do is follow them every single day. In case you don't, you need to start working on them by putting them on paper, just like if you are setting goals. In this case you are not focused on accomplishing your goals. You are focused on following your marketing plans the best possible way. When that's done, you'll simply evaluate such plans along with the results you obtained from your marketing plans.

  

To create such marketing plans, you need to know exactly what you want. It's complicated to know exactly what you want since every marketer might want something different from other marketers.

  

You might want to concentrate on your blog, and if you do, you might want to make a priority to build a list, or perhaps generate sales through affiliate links. Whatever the case might be, once you have a clear list of your priorities, you need to know exactly how to get them, and that's when your marketing plans come into the picture.

In other words, your marketing plans must have the activities you must do in a daily basis. The problem with most people is that they don't follow such plans seriously. To build a successful internet marketing career takes time. I've never heard of an overnight success in this industry, to be quite honest with you. If you ever hear one, be sure that such story was fabricated with the idea to sell you something.

  

Don't get me wrong, there are people who do incredible things and there's always the possibility that one of those stories might be real, but they are very uncommon.

  

As a marketer, your marketing plans must include activities that generate revenue, and activities that cause the conditions to facilitate such activities. What I mean is the following:

To generate sales, you need targeted traffic

To generate traffic you need high quality content

To generate high quality content you need to work hard at it

 To simplify these activities, I would put them in paper in the following order:

1. Create SEO content (for an article directory or your blog)
2. Work on socializing with the top bloggers, so eventually once they trust you they can help you redirect some of their traffic (through placing a banner on their blog for a period of time, by inviting them as a guest on your blog, or perhaps by doing an interview)
3. Syndicate your blog posts using social media or creating articles exclusively for certain high traffic sites.

 These activities are only examples, your actual marketing plans might be different.

Now, after a certain time of following your plans, you need to evaluate and see the progress of your work.

I recommend evaluating your work only once a month. That will give you the ability to work without any stress, focusing on your daily activities only.

Your best indicator for traffic is Google Analytics, there is no other way to see how well your traffic is improving.

If you are using a tracker link, that will tell you exactly how well your marketing is working.

So, here's an example of what I'm talking about:

Month: January

Traffic: 357 unique visitors

Sources: Facebook, Twitter, Stumble Upon, Pinterest, YouTube

Activity: Sharing content via social media through client apps.

Solo ads: 100 clicks

Leads Purchased: 100

Email Marketing: 15 emails

Ads: 50

Traffic Exchange: 3000 credits

Results: 15 new reps

Month: February

Traffic: 232 unique visitors

Sources: Facebook, Twitter, StumbleUpon, Pinterest, YouTube

Activity: Sharing content via social media through client apps.

Solo ads: 100 clicks

Leads Purchased: 100

Email Marketing: 20 emails

Ads: 50

Traffic Exchange: 3000 credits

Results: 7 new reps

In these two examples you clearly see that practically the marketer did the same activities, but the results were not the same. The number of new reps dropped more than 50 The important question in this case is: Why?

The activities were the same, but perhaps the quality of work was probably not. The next step is to find out if the activity really works, if not, replace it with other one that gets you better results.

The idea is to pin point what doesn't work, so you use your time on what works only.

Record the result of every session and do an evaluation based on the numbers. When you see that your marketing improves, you just need to do more of that, that's it.

In most cases, it's not how many hours you work, but how effectively you work.

To Your Success
 David Rodriguez


Article Source: http://www.articlesbase.com/marketing-tips-articles/how-to-evaluate-the-effectiveness-of-your-marketing-plans-6907703.html
About the Author
David Rodriguez is an expert internet marketer and a trainer. He shares his expertise with many people in this industry. Visit his blog http://www.onlinemarketingtrainingnow.com to find a variety of free articles in the internet and network marketing arena.

Why Does Your Business Need A Good Marketing Plan?

Author: Cash Miller

A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives. A Marketing Plan is meant to be a structured way of dealing with marketing issues, not a random collection of incomprehensible bits and pieces. A marketing plan is a key component of a business plan and is essential to planning the overall direction that you want your business to take. A marketing plan is not something that you write and then forget. It needs to be followed, monitored and updated. You want to regularly evaluate a marketing plan to make sure you are reaching the goals you set.

Marketing plan objectives are typically on the level of sales, profit, return on investment or, for larger businesses, market share. Marketing is a function of business and has many dimensions, including market research, customer service, advertising, targeting, packaging, pricing, e-marketing, and others. Marketing plans, even those created within a small company, can vary in scope, format, length, and level of detail they do however typically include similar types of information.

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Developing a good marketing plan is essential to the success of any business because you need to get everyone focused on the same issues and that's what your plan should do. You need to customize your marketing plan to suit your business and its objectives. Your marketing plan needs to be simple and to the point. In it you want to state your marketing objectives and do so in a way that your goals are very clear for everyone that might be involved with accomplishing the plan itself. Your marketing strategy needs to be clearly defined. It's your plan of action for achieving each of your goals.

Marketing Actions are the tactics you plan to use to give your plan a life of its own. Developing a solid marketing strategy is the foundation of a well-written marketing plan and must be carefully considered before committing to it. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use.

The objectives in your marketing plan need to state just where the company intends to be; at some specific time in the future.

The marketing objectives must usually be based, above all, on the organization's financial objectives. If the marketing plan is to work, every exception to it must be questioned. Before you deviate from your plan you need to ask why you should do so. During the course of the year the lessons learned need to be documented so that they can be incorporated into the next year's plan.

A marketing plan for a small business typically includes descriptions of direct competitors, that are marketing similar products. What the level of demand for the product or service is. A description of the product or service, including special features. What your marketing budget is, including the advertising and promotional plan. A description of the business location, to include the advantages and disadvantages of your location. And what your pricing strategy is going to be. A marketing plan is, after all, a structured way of dealing with marketing issues, not a random collection of incomprehensible bits and pieces.

This kind of balanced view in a marketing plan is important to show risks are being recognized. Like a business plan, a marketing plan is an essential guide. Some business owners don't understand the value of a marketing plan, and still others just don't know what a marketing plan is. Every start-up venture and existing business needs a business plan, yet many entrepreneurs don't realize a marketing plan is equally vital to your business success. A marketing plan is required if you want your business to become a household name. Your marketing plan provides structure to the marketing efforts of your business.

Article Source: http://www.articlesbase.com/marketing-articles/why-does-your-business-need-a-good-marketing-plan-442595.html

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The importance of marketing planning

Author: Maria Morton

There’s an old adage that says “if you fail to plan, you plan to fail”!  A recent study of nearly 2000 SMEs across Australia found that almost 60 of all businesses did not prepare an annual marketing plan and “many businesses are making informal decisions regarding their marketing programs...Marketing decisions are therefore more likely to be ad hoc with little attempt to identify the cost/benefit of the marketing spend.”

Is it that owners and managers of small to medium-sized businesses don’t have a need for marketing plans?  On the contrary; the same study found that 80 of companies did not know the cost of attracting a new customer to their business, which should make the activity of planning a high priority for those who wish to grow their customer base and revenue using a planned and, more importantly, repeatable approach.

Why is it important to plan?

If you are just starting out, this is one of the most important activities you will do.  Just like a business plan is vital, a thoroughly-researched marketing plan will ensure you give your new business the best possible chance at survival.

If you are well down the track with campaigns in place, don’t become complacent; a marketing plan is only effective when it is up to date and relevant.  It is quite common for established companies to permanently file the plan, or to allow plans to become so out of date they no longer reflect current activities or new media options.

Costly errors can occur because time is not spent on the critical tasks of planning, ongoing research, testing, measuring and evaluating against the objectives identified in the company’s marketing plan.  Ideally the plan should be viewed as a living document; it should be updated, changed, referred to and constantly reviewed to ensure the activities are reaching the desired outcome.

A marketing plan does not have to be complex or overly lengthy, but it should clearly:

• Define the objectives and priorities of your business
• Identify your products and services, prices and the profit margins of each
• Determine your placement, market position, industry and competition
• Generate a unique selling proposition
• Identify the ideal customer profile and how to locate such customers
• Plan optimal promotional strategies and tactics
• Identify strengths, weaknesses, opportunities and threats
• Determine the optimal marketing budget
• Estimate the marketing return on investment (ROI)
• Evaluate the effectiveness of your marketing campaigns
• Include an action list with timeframes and allocation of resources

Think of your marketing plan as a roadmap.  When you feel like you are getting lost, look back on where you wanted to go and how you were going to get there.  It’s ok to take a different route and to upload new maps, but check on occasion you are still heading in the right direction.

*News Community Media SME Index Survey June/July 2009

Article Source: http://www.articlesbase.com/business-ideas-articles/the-importance-of-marketing-planning-1543759.html
About the Author
Maria Morton is a director of Plenty Systems, an Australian business development, marketing and training services business that assists companies to increase their revenue through strategic goal setting, marketing action plans and by providing the manpower to make it happen. Maria has almost 20 years of experience in marketing, public relations and corporate communications. For additional marketing resources, including her monthly newsletter Plenty News, visit her website at www.plentysystems.com.au

How to Write a Strategic Marketing Plan in Four Easy Steps

Author: ajaero tony martins

Most business owners recognize the essence of marketing to a business. They know that marketing is directly proportional to sales; yet only few will invest the time and resources to write a marketing plan. Do you have a marketing plan for your business? Does your business need a marketing plan? What advantage does a marketing plan give your business? Well, I will advice you read on to find the answers you seek.

Before we proceed further, I think it\'s wise I lay out the definition of a marketing plan. Now what is a marketing plan? According to Wikipedia,

       'A marketing plan may be part of an overall business plan. A marketing plan is a plan which outlines a company\'s overall marketing efforts. Marketing process can be realized by the marketing mix in step 4. The last step in the process is the marketing controlling.

The marketing plan can function from two points: strategy and tactics. A solid marketing strategy is the foundation of a well-written marketing plan. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use.'

Before you start a business, it is expected that you develop a marketing plan; and a good one at that. Now for those thinking of creative and innovative ways to actually accomplish a superb plan, below are four basic pointers on how to write a marketing plan:

                How to Write a Strategic Marketing Plan – Format, Template Outline

• Set good and achievable marketing objectives

There are different and specific objectives for every business. While some businesses have the goal to expand their revenue, others have goals that are focused on expanding on something else, such as its market base. Although the objectives may vary, the ways to accomplish it is still the same; and that\'s by making sure that your plan has a clear vision statement, a well-thought of SWOT analysis and is applying the S.M.A.R.T objectives.

A vision statement is simple to do as it technically contains only the long-term goals you want for your business. But bear in mind that a vision statement is important to the success of your marketing plan because it has the ability to move your business in a precise direction.

The next important thing is a SWOT analysis. A SWOT analysis is a crucial action you must take because it identifies the elements of your business; such as your business strengths, weaknesses, oppositions and threats. It should therefore not be taken for granted because it could make or break your business.

And lastly, when establishing an objective, you are advised to use the S.M.A.R.T. (specific, measureable, attainable, relevant and time-bound) characteristics to be able to reach your goal. When the objectives have been properly stated, then the next step is to go for research.

• Do good and content-wise research

Some businessmen abhor this part because it not only takes time; it is also costly. However, you must note that research is a very critical aspect of marketing. A good market research, as well as an informative market analysis; is the only way to understand how a business works and how it should work. Through research, you will be able to know who your target customers are and where can they be found. Through research, you will be able to know several ways on how to attract such market and to entice them to your product or service. It is only through research that you can get to develop your business for the better.

• Engage in Strategic Planning

The most important thing to consider when studying the pointers on how to write a marketing plan is the part of strategy planning. After answering the what (goal or objective), who and where (target market), it is now only basic to answer the 'How?'

This is a tricky aspect in marketing plans as they tend to require your effort and superb ideas to make the product or service work. However, you must not be discouraged if your strategy did not work as planned; this is quite inevitable in every business undertaking. The important thing is to be persistent and never to fear failure.

• Stick to the plan

This is a simple rule and although it looks easy to implement, it is not always the case for some businesses. Sticking to the implemented plan not only gives the impression that you are firm and decisive when it comes to business issues, it also helps you avoid the waste of time that you would experience if you change your mind about marketing plan. The best thing to do to avoid regular change of plans is to prepare a marketing plan that will not only suffice to the needs of your business but will also be the best that you ever did. Go ahead, and outdo yourself.

In conclusion, there are many other specific pointers that you need to know when writing a marketing plan but the basics, as mentioned above, should always be prioritized. After all, what is a specific and outstanding marketing plan without a good, detailed and well-thought of foundation?

Article Source: http://www.articlesbase.com/strategic-planning-articles/how-to-write-a-strategic-marketing-plan-in-four-easy-steps-6090647.html

About the Author

And just before i drop my pen, if you are searching for the Best Startup Business ideas or you want to know how to start a catering business from home, please visit our blog to learn more.

Drive your sales with a professional marketing plan

Author: Carl Roughsedge

A marketing plan is a blue print document for a business which is developed to plan and implement the marketing activity necessary to achieve the goals set out for the business. For most small and medium sized businesses this will mean a marketing plan which is developed to achieve the sales and profit targets set for the business. A good marketing plan will target available resources in the most efficient and planned manner and enable the business to achieve its objectives. There are a number of stages to developing an effective marketing plan.

1. Define the business itself – What is the business in terms of size, location, sales channels, etc. What does the business do, what are the unique sales points or main sales points of the business or its services and products.

2. Define the objectives – What are the objectives for the business, these may include increasing sales from existing customers, winning new customers, increased profitability, launching new products or services, moving into new geographical areas, opening up new markets, raising awareness of the business or brand, developing new distribution channels. Most likely it will be a combination of several of these objectives.

3. Identify the target market – The marketing plan should identify the types of customers or clients that the products or services will be sold to. Factors to consider for B2C businesses will be social group A, B C1, C2, D & E. Geographical location, age group, gender, interest group, etc. For B2B businesses factors will include business sector, size, geographical location, job title, turnover, etc.

4. Timescale – It is most productive in developing a marketing plan to break down the achievement of the objectives by timescale. Set out what needs to be achieved in the short, medium and long term. In the short term it may be best to focus on achieving a level of sales which can at least support the business outgoings, longer term objectives would include achieving high levels of awareness in the target market and a reputation for excellence in your field.

5. Marketing Tactics – Once points 1 to 4 have been decided the next stage in the marketing plan is to decide which marketing tactics need to be employed to best achieve the objectives that have been identified for the short, medium and long term. The marketing tactics employed could include advertising, direct marketing, graphic design (logo, brochures, leaflets, point of sale), online marketing, search engine optimisation, public relations, sales promotion and channel marketing. The factors which decide which marketing tactics will be most effective include available budget, the nature of the target market, the main sales points of the business and its services and products, competitor activity, market conditions and availability of suitable media.

6. Media Selection – Once marketing tactics have been decided the next stage of the marketing plan is to select the most appropriate media. There are a whole host of available media channels whatever marketing tactics are employed. For example, for direct marketing there are a multitude of list brokers offering many options for suitable lists – so contact at least 4-5, the internet is now an excellent means of sourcing professional marketing help, consider which options are best for your business. For advertising you can select from media such as national, regional and local newspapers, magazines, newsletters, radio, posters, banners and even TV. The selection will depend entirely on your target market and budget – make your budget work as hard as you can.

7. Creative Message – This aspect of the marketing plan will de developed directly from the unique sales point and major sales points that were identified earlier in the marketing plan. The creative message may include a strapline that encapsulates the key sales point for the product or service. The creative message must be consistent across all media and have impact and standout. For the implementation of this aspect of the marketing plan it is advisable to seek the services of a professional marketing agency – again this can be sourced via the internet.

In summary, your marketing plan is key to the success of your business, it is a blueprint for the long term development of the business sales. It is important that your marketing plan centres around achieving sales and profitability, return on investment is key to good marketing. It is best to get professional help when developing your marketing plan – use the internet to source that help.

Article Source: http://www.articlesbase.com/marketing-articles/drive-your-sales-with-a-professional-marketing-plan-869660.html

About the Author

Carl Roughsedge is Director of e-Moonlighting.com which provides
effective marketing, website design, logo and graphic design to businesses
around the world. e-Moonlighting.com features a free Marketing Help section
at marketing help section and a latest news section with the latest developments in marketing and design.

5 Critical Components to a Successful Marketing Plan

Author: Kellie D'Andrea

Business that are successful usually have a marketing plan and most would tell you that while executing the plan has its challenges, developing the plan and deciding what to do and how to do it was the longest part of the process. Your marketing plan should be clear, concise, and a well though out document that guides you through your marketing activities starting with your overall objective and how you intend to accomplish that objective.

Whether your company provides products or services, is off line or on line, your marketing plan is essential to your success but must focus on five critical components to be a success.

* Position Your Product

In the BLASTTM marketing system, positioning is the most critical element to consider when putting together your marketing plan. It involves creating the image and identity in the minds of your customers each time they experience your product and building the infrastructure around it to support it.

In product positioning, there are two basic focuses: Offering what the customer wants with the most profitable market opportunity and taken actions to differentiate product from that of their competition in such a way that customers will develop a preference for your product over the competition. When you put the right product at the right price and in front of the right customer, you have mastered positioning.

The goal of any marketing plan is to create a strategy that will boost your profits including a persuasive message targeted towards your customer and a promise that your product actually delivers - this statement will become your brand promise.

For example: Fed Ex, 'When it simply has to get there overnight' Domino\'s Pizza 'Pizza in 30 minutes or less'

* Tap into your Mastermind Group

Information is one of the most powerful assets a person can posses and having the ability to leverage other people\'s information is exponentially better. To help define your marketing plan, tap into your brain trust for ideas, market and competitive perspectives.

In a mastermind group, each group member will come with different experiences, perspectives and ideas that will most likely be your next big money making idea. Having the ability to brainstorm and be creative with a group of people all focused on helping you solve a problem is one of the biggest benefits you will experience from a mastermind group.

The powerful result of a mastermind group is that there is a synergy of energy, excitement and idea sharing that participants bring to the group therefore raising the bar by challenging and encouraging other members to create and implement their goals.

* Listen to your Customers

The best way to find out what is in your customer\'s head is to simply ask them. Whether you new business or an established one, understanding your target market is an important element to your marketing plan. It is important to get your customer\'s perspective to your product, its price, quality and anything else that influences their purchasing decision. Try handing out samples, conducting surveys or test marketing your product.

The information that you get back will be invaluable and well worth the investment of offering a few free samples. The feedback that you will get from your customers or potential customers will help you evaluate the integrity of your product, its ability to support your brand promise, the pricing model and its quality.

Even if you are new, test your product in your target market by conducting what is called market test to see how your product will be received. This is a great way to introduce you, get valuable feedback and testimonials for your product launch.

* Create a Simple Plan

Now that you have given some thought to what you want your product to represent, identify your target market and tested your product to see what works and what doesn\'t, it is now to sit down and draft your marketing plan. So many business owners get stuck at this point either thinking they don\'t need a plan or are intimidated about creating one.

Every business, both small and large, will benefit greatly from a well thought out planning process and a key component to every success business is a good marketing plan that answers the basic questions: who, what, why, where, when an how much.  Creating a marketing plan is critical component to on-going success and is not something that should be ignored. This plan does not have to be comprehensive.

It can be a simple plan that addresses the following: Your overall market Your specific niche Your target audience within your niche Your brand promise Your competition Your benefits and competitive differences Your pricing model Your marketing budget Your marketing activities Your marketing calendar of events Your success measures Track Results

A successful marketing plan is tracked and measured. In order to measure your performance and determine if your plan is successful, you must identify how you will be measuring the success of your plan.

Some examples: Return on investment (how much did I spend vs. how much I got back; Returned coupons, web hits, open clicks, Increased calls? How will you define a successful marketing activity? What is the result you are looking for?

Article Source: http://www.articlesbase.com/business-articles/5-critical-components-to-a-successful-marketing-plan-1037585.html

About the Author

©Kellie D\'Andrea & Associates Kellie D\'Andrea is the creator of the BLAST system and publishes 'The Marketing Edge' a FREE award winning ezine for small business owners who want to gain the competitive edge with strategic marketing and branding techniques that actually work. Find out the 23 Common Mistakes Most Entrepreneurs make with a FREE report offered at ttp://www.KellieDandrea.com .

3 Elements of Successful Marketing Planning

Author: Nate Stockard

Many small business owners and managers approach marketing in a shotgun approach. They throw money at different marketing activities and hope that something hits their target. In most of these cases, the results are poor. Owners and managers start blaming the radio stations, the ad agency, or even the marketing consultant who told them marketing was the most important activity of their business. They don\'t understand the need to plan and map out their marketing efforts. Planning is key to reduce marketing costs and increase effectiveness.

Why create a marketing plan?

When an entrepreneur starts a business, they decide on the product or service, determine where they are going to get it, and plan on how they will sell it. Most owners and managers don\'t realize that this planning actually coincides with marketing planning, but in order to be successful a conscious effort has to be applied to planning marketing activities that correlate to creating the product or service and selling it.

As we discussed in the marketing concept of consistency, marketing must be consistent. In order for marketing to be consistent, it must be planned. You must plan each step of your marketing just as you do a business plan. Most businesses have realized the need for a business plan. It helps to guide where the company is going, what is expected, and what they will do when they fail or succeed. These are the same reasons for creating a marketing plan. You must know what the goal of your marketing is, how much you are budgeting, the expected results, what to do if you exceed or fall short of your goals and expectations, and how to relate your marketing to the rest of your company.

What is the difference between planning and strategy?

Planning consists of your marketing roadmap. It tells you where you are starting, what\'s your end point, and what the path is to get there. Your organization\'s goals are included in planning. Budgets, analyses, and forecasts go into your planning.

Strategies are how you accomplish your goals and forecasts. In fact, strategies are part of the plan. Strategies tell you how you will get from the starting point to the end point and the specific way you will take your planned path. Strategies consist of the action steps that you will implement to obtain the forecasted results. To sum it up, planning creates the big picture and strategies make up the individual parts of the big picture.

What goes into marketing planning?

Marketing planning is typically conducted by your executive staff. The top-level managers usually provide input and feedback for the necessary goals and objectives to make your company successful and maintain a high level of growth. If you have a dedicated marketing department, they will ultimately be responsible for the marketing plan and its contained strategies, but the entire company must be involved in creating the basic outline of your marketing plan.

The marketing planning should begin with an overview of your business and what you intend on selling. When starting here, you should define your business specifically and break down your products and services so that everyone involved understands the basis for all of your marketing planning. Your marketing planning should consist of goals and objectives that relate to the goals and objectives of your business plan. From there, you should analyze your target market, competition, strengths, weaknesses, threats, and opportunities (SWOT). You should also include what you are budgeting for this marketing plan so you can plan strategies correctly. Forecasting your expectations will give you benchmarks to evaluate your marketing planning, which leads to the need to determine how you will assess your results and what types of metrics need to be installed to successfully review your progress and success or failure.

Creating a roadmap is vital to being successful in business and marketing. Marketing can be expensive, wasteful, and ineffective if not properly planned. The old adage, 'Failure to plan is planning to fail,' is very true in the realm of marketing. Even though many of today\'s marketing activities include free and low-cost tools such as social networking, engaging marketing activities without planning can become expensive in regards to time spent.

Article Source: http://www.articlesbase.com/marketing-tips-articles/3-elements-of-successful-marketing-planning-578258.html

About the Author

Nate Stockard offers free consulting at freemarketinganswers.com, created by Stockard & Associates, Inc, a marketing and design firm in Houston, TX specializing in small business solutions.

His 13 years of marketing experience is also put on display at The Market Seedling, an informative source of information, articles, tips, and advice for small business owners and marketers.

How to Write a Marketing Plan

The Marketing Plan is a highly detailed, heavily researched and, hopefully, well written report that many inside and possibly outside the organization will evaluate. It is an essential document for both large corporate marketing departments and for startup companies. Essentially the Marketing Plan:

· forces the marketing personnel to look internally in order to fully understand the results of past marketing decisions.

· forces the marketing personnel to look externally in order to fully understand the market in which they operate.

· sets future goals and provides direction for future marketing efforts that everyone within the organization should understand and support.

· is a key component in obtaining funding to pursue new initiatives.

The Marketing Plan is generally undertaken for one of the following reasons:

1. Needed as part of the yearly planning process within the marketing functional area.

2. Needed for a specialized strategy to introduce something new, such as new product planning, entering new markets, or trying a new strategy to fix an existing problem.

3. Is a component within an overall business plan, such as a new business proposal to the financial community.

There are many ways to develop and format a marketing plan. The approach taken here is to present a 6-Part plan that includes:

1. Purpose and Mission

2. Situational Analysis

3. Marketing Strategy and Objectives

4. Tactical Programs

5. Budgets, Performance Analysis and Implementation

6. Additional Consideration

This plan is aimed at individual products and product lines, however, it can be adapted fairly easily for use in planning one or more strategic business units (SBU). The page length suggested for each section represents a single-spaced typed format for a plan focused on a single product. Obviously for multi-product plans lengths will be somewhat longer.

Part 1: Purpose and Mission

Part 1 of the plan is designed to provide the reader with the necessary information to fully understand the purpose of the marketing plan. This part also includes organizational background information, which may be particularly important if the audience for the plan is not familiar with the company, such as potential financial backers. Some of the information, in particular the mission statement, may require the input of upper-management. The information in this part will prove useful later in the plan as a point of reference for material that will be introduced (e.g., may help explain pricing decisions). In cases in which there are separately operated divisions or SBU, there may also be mission statements for each. (Length: one page or less)

1. Purpose of the Marketing Plan

· Offer brief explanation for why this plan was produced

o e.g., introduce new product, enter new markets, continue growth of existing product, yearly review and planning document, etc.

· Suggest what may be done with the information contained in the plan

o e.g., set targets to be achieved in the next year, represents a departmental report to be included in larger business or strategic plan, etc.

2. Mission Statement

For larger firms this may already exist in a public way (e.g., found in annual report, found on corporate website) but for many others this may need to be formulated.
The mission statement consists of a short, finely-honed paragraph that considers the following issues:

· Identifies a stable (i.e., not dramatically changing every year), long-run vision of the organization that can answer such questions as:

o Why is the company in business?

o What markets do we serve and why do we serve these markets?

o In general terms, what are the main benefits we offer our customers?

§ e.g., a low price software provider may state they offer “practical and highly affordable business solutions”

o What does this company want to be known for?

o What is the company out to prove to the industry, customers, partners, employees, etc.?

o What is the general corporate philosophy for doing business?

o What products/services does the company offer?

· In developing the vision presented in the mission statement consider:

o Company History

§ How company started and major events of the company, products, markets served, etc.

o Resources and Competencies

§ Consider what the company currently possesses by answering the following:

§ What are we good at?

§ What is special about us compared to current and future competitors (in general terms do not need to mention names)?

§ What do we do that gives us a competitive advantage?

§ Consider the questions above in term of:

§ people, products, financial position, technical and research capabilities, partnership/supply chain relations, others

o Environment

§ Consider the conditions in which company operates including:

§ physical (e.g., facilities), equipment, political regulatory, competitive, economic, technological, others

Part 2: Situational Analysis

The situational analysis covers six key areas: product, target market, distribution, competitors, financial and other issues.

1. Current Product Analysis

May be able to skip this section if plan is for a new product and no related products exist.
Provide detailed analysis of the company’s product(s). (Length: 1-2 pages).

· Describe the company’s current product(s) offerings in terms of:

o Product Attributes

§ Describe the main product features, major benefits received by those using the product, current branding strategies, etc.

o Pricing

§ Describe pricing used at all distribution levels such as pricing to final users and to distributors, incentives offered, discounts, etc.

o Distribution

§ Describe how the product is made accessible to final users including channels used, major benefits received by distributors, how product is shipped, process for handling orders, etc.

o Promotion

§ Describe promotional programs and strategies in terms of advertising, sales promotion, personal selling and public relations, how product is currently positioned in the market, etc.

o Services Offered

§ Describe support services provided to final users and distributors before, during and after the sale

§

2. Describe The Current Target Market(s)

Examine in detail the company’s current target market(s). Obviously to do this section correctly takes a great deal of customer-focused research. (Length: 2-3 pages).

· Describe the target market approach:

o What general strategy is used to reach targeted customers? Generally approaches include:

§ mass market – aim to sell to a large broad market

§ segmentation approach – aim to selectively target one (niche) or more markets

· Describe demographic/psychographic profile of the market:

o Profile criteria may include:

§ gender, income, age, occupation, education, family life cycle, geographic region, lifestyle, attitudes, purchasing characteristics, etc.

· Describe the following characteristics of targeted customers:

o Needs/benefits sought by market

o Product usage

§ Consider answers to these questions related to customers using the product such as:

§ who is using the product?

§ why do they use the product?

§ when do they use the product?

§ how is the product used?

o Product positioning

§ Evaluate how customers perceive the product in relation to competitor’s products or to other solutions they use to solve their problems

o Attitudes

§ What is the target market’s attitude regarding the company’s product?

§ What is the target market’s attitude regarding the general product category?

§ i.e., exam the general attitude regarding how products from all companies serve the target market’s needs

· Describe the purchasing process:

o How does the target market make their purchase?

§ What does the decision-making process involve?

§ What sources of information are sought?

§ What is a timeline for a purchase (e.g., impulse vs. extended decision-making)?

o Who makes the purchase?

§ Does user purchase or is other party responsible (e.g., parent purchasing for children)?

o Who or what may influence the purchase?

· Provide market size estimates:

o Keep in mind these are estimates for the market not for a specific product

§ Provide size estimates for the potential market

§ What is the largest possible market if all buy?

§ Provide estimates of size for the current target market

§ What percent of the potential market actually purchased?

§ Provide estimates of future growth rates

§ At least through the timeframe for the plan (e.g., 1 year) but most likely longer (e.g., 3-5 year projections)

3. Describe Current Distributor Network

This may not apply if company does not use distributors. Evaluate how the company’s product(s) is distributed. Clearly marketing plans for a service company may not have much detail here but this section will most likely have some relevance even for service firms (e.g., package delivery services, online legal service, etc,). (Length: 2 pages).

· Describe the channels/supply chain employed to sell and deliver the product: (Note: internal sales force discussion should appear under company promotion in Current Product Analysis above.)

o Options may include:

§ direct to customer

§ indirect via a distributor

§ combination of both

· What are the needs/benefits sought by distributors?

· Describe the product’s role within the distributor network:

o How is this product used within the distributor’s business?

o How important is product within the distributor’s strategy?

o How is product positioned?

§ e.g., how does distributor view product in relation to competition

o Attitudes and perceptions about company's product(s)

· Purchase process

o How does distributor network make their purchase?

o Who or what influence distributor’s purchases?

· Demographics

o Who makes up the distributor network?

§ types

§ size

§ geographic region

§ markets served

4. Competitor Analysis

Examine the main competitors serving the same target market. This section may also benefit from the use of comparison tables. (Length: 3-4 pages).

· Describe direct competitors in terms of:

o Target markets served

o Product attributes

o Pricing

o Promotion

o Distribution including the distributor network

o Services offered

· Discuss competitor’s strengths and weaknesses:

o May need to consider much more than just marketing issues such as:

§ financial standing

§ target market perception

§ R & D capabilities

· Discuss competitive trends:

o May need to include discussion of future competitive threats

5. Financial Analysis for Product or Product Line

Much of this information can be handled within a graphical format, such as tables and graphs, though a paragraph explanation of each is generally required. Make sure to include total dollar (or other currency) amounts as well as percentage market share. For more detailed marketing plans or for plans for seasonal products, providing monthly or even weekly sales figures may be required. Provide a spreadsheet-style layout showing detailed breakdown of marketing revenues and expenses. (Length: 2-4 pages).

· Current Sales Analysis

o Overall industry sales and market share (for at least the last year)

§ total market sales

§ total for company’s product(s)

§ total for competition

o By segments/product categories

§ total for segments/product categories

§ total for company’s product(s)

§ total for competition

o By Channels of Distribution

§ total for each channel

§ total for company’s product(s) by channel

§ total for competition by channel

o By Geographic Region

§ total for each region

§ total for company’s product(s) by region

§ total for competition by region

· Profitability Analysis

o Revenues

§ For highly detailed plans break out into categories as shown above in the Current Sales Analysis section.

o Marketing Expenses

§ Types:

§ Direct – those expenses that can be tied to the product

§ Indirect or Proportional – generally administrative or broad marketing expenses that may be assigned to a product based on some established criteria (e.g., a product’s percentage of overall company sales) Note: not all companies follow this approach

§ For highly detailed plans break out into categories as shown above in the Current Sales Analysis section.

6. Environmental Problems and Opportunities

Describe trends, events, conditions that are external (usually uncontrolled by the company) that may impact the company’s product(s) or the market. (Length: 1-2 pages)

· Areas of consideration:

o social and cultural

o demographic

o economic

o technological

o political

o legal, regulatory, ethical

7. Product/Market Analysis Tools

In an effort to provide an easy to visualize summary of the product(s) consider using one or more of the following commonly used product/market analysis tools. (Length: 1 page)

· Product Life Cycle Analysis

· Boston Consulting Group Growth/Share Matrix

· General Electric Market Attractiveness Matrix

8. Summary of Current Situation

Summarize all information in the Situational Analysis. (Length: 1 page)

· Provide a SWOT analysis for the company’s product(s) that includes:

o strengths

o weaknesses

o opportunities

o threats

Part 3: Marketing Strategy and Objectives

Those reading a marketing plan need a clear picture of the direction the product will take. Also, they want to see that some accountability has been built into the plan so that the plan is not just fluff but results in measurable actions. The best way to provide this information is through a section devoted to identifying the key strategies and objectives for the product(s).

This section consists of three major issues:

· Marketing Strategy

· Financial Objectives

· Marketing Objectives

1. Identify Marketing Strategy

In this section identify the general marketing strategy under which this plan is being developed. It is very possible that a product will follow more than one strategy (e.g., sell more of same product to current customers but also find new customers in new markets). Plan developers may get some guidance and also rationale for strategy by examining results from the Situational Analysis. In particular, planners may look to strategies that are suggested within the scope of Product/Market Analysis Tools. Additionally, planners should refer to the Mission Statement in Step 1 to insure strategies are in line with how the company views itself. (Page length: less than 1 page)

Strategies generally fall under one of the following (or in some cases more than one) ideas:

· Market growth (see ansoff matrix)

o Higher market penetration

§ Sell more to same market (i.e., get current customers to buy more or buy more frequently)

§ If overall market is growing this may not necessarily mean a growth in overall market share

§ If overall market is not growing this means a growth in overall market share

o Find new markets

§ Sell to markets or market segments not previously targeted

o Develop new products for existing customers

o Develop new products for new customers

· Market stability

o Techniques to keep the status quo

§ Primarily used in times of economic decline or market decline

§ Generally requires the taking of market share from others in the industry

· Cost control

o Techniques to contain costs or operate more effectively

§ Can work in combination with market growth or market stability

· Market exit

1. Techniques to depart a market

2. Determine Financial Objectives

For many organizations the ultimate goal of the marketing plan is the effect it will have on the bottom line. Measures reflect income statement items and common ratios. (Page length: less than 1 page)

· Customer sales

o by volume and growth percentage

o by segments

· Channel sales

o by volume and growth percentage

o by channel

· Margins

· Profitability

· Ratios

o use common financial ratios and other metrics associated with marketing in the industry

3. Determine Marketing Objectives

Marketing success can be measured on several non-financial market metrics. These measure are important since these often shed light on underlying conditions and circumstances facing the company that are not easily seen within financial measures. For instance, a company may report strong sales for a product but market share information may suggest the product is losing ground to competitors. The marketing objectives section will indicate targets to be achieved across several marketing decision areas. To add additional strength to this section include marketing metrics where possible. (Page length: less than 1 page)

· Target market objectives

o market share

§ total

§ by segments

§ by channel

o customers

§ total

§ number/percentage new

§ number/percentage retained

o purchases

§ rate of purchases

§ size/volume of purchases

· Promotional objectives

o level of brand/company awareness

o traffic building

§ (e.g., store traffic, website traffic)

o product trials

§ (e.g. sales promotions, product demonstrations)

o sales force

§ (e.g. cycle time, cost per call, closing rate, customer visits, etc.)

· Channel objectives

o dealers

§ total

§ number/percentage new

§ number/percentage retained

o order processing and delivery

§ on-time rate

§ shrinkage rate

§ correct order rate

· Market research objectives

o studies initiated

o studies completed

· R&D objectives

o product development

· Other objectives

o partnerships developed

Part 4: Tactical Marketing Programs

This is the heart of the marketing plan. It contains descriptions of detailed tactics to be carried out to achieve the objectives and goals established in Step 3. It is typically the longest section of the plan, often representing 50% or more of total page count.

In this section details and timetables are presented for six key decision areas:

· Target Markets

· Product

· Promotion

· Pricing

· Distribution

· Other Areas

Preferably this section includes a brief summary of current marketing decisions

1. Target Market Tactics

If the target market remains the same as what was identified in the Situational Analysis then identifying the market will be relatively easy though justification for continuing with this market is required. For new markets a more detailed discussion is needed. This section also includes the sales forecast which is the driving force for all financial forecasts. Depending on the depth of detail sought in the marketing plan, it may be a good idea to include likelihood scenarios, such as best case, worst case, and probable case, when developing the sales forecast. (Length: 1-2 pages)

· Target market description:

o Brief summary of current target market

o Identify planned changes:

§ Summarize changes:

§ Describe using profile (e.g., demographic, psychographic, behavioral, etc. )

§ Describe how it will be accomplished

§ Justify planned changes:

§ Due to results

§ Due to research

§ Due to competition

§ Others

§ Describe target market tactics:

§ Objectives

§ Methods used change target market

§ Profile the target marketing

· Product positioning:

o Brief summary of product postition

§ How does target market view product in relation to competitor’s products?

o Identify planned changes:

§ Summarize changes in product positioning

§ Justify planned changes:

§ Due to results

§ Due to research

§ Due to competition

§ Others

o Describe tactics to carryout changes

§ Objectives

§ e.g. what is desired position?

§ Methods used to change position

· Sales forecast for each product:

o Brief summary of current sales

o Identify changes

§ Summarize changes in forecast

§ Justify forecast (i.e., figures determined based on what information?)

o Describe forecast

§ Objectives

§ Methods used to carry out

§ Numerical estimates

§ Categories:

§ Total

§ By segment(s)

§ By distribution channel

§ Others

§ consider likelihood scenario analysis

2. Product Tactics

In this section discuss the decisions to be made for existing or new products and services. Make sure to consider all aspects of product decisions (branding, labeling, packaging) and not just the product itself. Also, keep in mind product decisions can also impact distributors (e.g., distributor’s response to packaging used to ship the product). (Length: 1-3 pages)

·

o Brief summary of current product decisions for users and distributors in terms of:

§ General description

§ e.g., category of product, product line information

§ Features/attributes offered

§ list key features

§ main benefits target market receives

§ Branding

§ Packaging

§ Labeling

o Identify planned changes:

§ Summarize changes

§ For new products

§ How was product developed?

§ Stage in development process

§ Timetable for availability

§ Justify changes:

§ Due to results

§ Due to research

§ Due to competition

§ Others

o Describe planned changes:

§ Identify changes directed to the targeted user market:

§ Objectives:

§ e.g., modify existing products, extend existing product line, develop new products, develop new uses/benefits for existing products, delete current product, etc.

§ Features/attributes offered

§ Branding

§ Packaging

§ Labeling

§ Identify changes to the distributor network:

§ Objectives:

§ e.g., improve distribution, improve protection, lower cost of handling, gain distribution, etc.

§ Features/attributes offered

§ Branding

§ Packaging

§ Labeling

3. Promotion Tactics

Describe the decisions related to how the product will be promoted. In general, promotion consists of four major areas – advertising, sales promotion, public relations and personal selling – though not all may be used. Timetables for promotion are important since certain types of promotions (e.g., magazine ads, trade shows) require long lead times. Most information in this section can be shown in tables and graphs. Each of the four promotion areas is separated out, however, some planners find it easier to combine the areas. For instance, the promotional areas could be combined within special promotion programs, such as Holiday Promotion Program, Summer Promotion Program, etc. (Length: 1-4 pages)

· Brief summary of current promotional decisions for users and distributors in terms of:

o General description for four promotional areas:

§ advertising

§ sales promotion

§ personal selling

§ public relations

o Message/theme

o Methods used:

§ Summarize methods used

§ Summarize spending for each method

o Interrelation of four promotional areas

§ e.g., explain how advertising supports sales promotion

· Identify planned changes:

o Summarize changes

o Justify changes:

§ Due to results

§ Due to research

§ Due to competition

§ Others

· Describe planned changes:

o Identify changes directed to the targeted user market:

§ General description for four promotional areas:

§ Objectives

§ Advertising - e.g., build general awareness/inquiries/traffic, encourage product trial, shift awareness (e.g., change attitude), response to competitor promotion, increase use or purchase rate, support other market decisions (e.g., support sales force), general corporate/product image building, etc.

§ Sales promotion - e.g., build inquires, increase product trial, encourage repurchase, build traffic, support other promotions

§ Personal selling - e.g., new account development, account support/maintenance, increase product trial, encourage purchase/repurchase, build traffic, support other promotions

§ Public relations - e.g., build general awareness/inquiries/traffic, encourage product trial, shift awareness (e.g., change attitude), respond to negative news/perception, image building, prepare markets for future activity (e.g., new product)

§ Methods and message:

§ type and media used: e.g., ad type (e.g., television spots, Internet banner ads, roadside billboards, direct mail, etc.) , sales promotion type (e.g., coupons, demonstrations, etc.), selling type (e.g., sales force, call center), pr type (e.g., press release, pitch to magazines, etc.)

§ message conveyed

§ Spending and timetables

§ total

§ sub-divided by:

§ type

§ e.g., ad spending, sales force compensation

§ media used

§ targeted users

o Identify planned changes directed to the distributor network:

§ General description

§ Objectives

§ Advertising - e.g., build general awareness/inquiries, encourage product handling, shift awareness (e.g., change attitude), response to competitor promotion, increase purchase rate, support other market decisions (e.g., support sales force), general corporate/product image building, etc.

§ Sales promotion - e.g., build inquires, encouraging inventory building, support other promotions, encourage handling of new products, obtain distributor assistance

§ Personal Selling - e.g., new account development, account support/maintenance, encourage purchase/repurchase/inventory building

§ Public Relations - e.g., build general awareness/inquiries/traffic, encourage distribution trial, shift awareness (e.g., change attitude), respond to negative news/perception, image building, prepare markets for future activity (e.g., new product)

§ Methods and message

§ type and media

§ message conveyed

§ Spending and timetables

§ total

§ sub-divided by:

§ type

§ media used

§ targeted distributor network

4. Distribution Tactics

This marketing tactics section lays out the distribution plan for the product or service. Distribution is a broad concept that includes all activities and entities (e.g., value chain partners) responsible for getting the product or service to the customer. Distribution costs can represent a high portion of the overall cost of the product so an efficient distribution system may be critical for marketing success. (Length: 1-3 pages)

· Brief summary of current distribution network/value chain decisions:

o Types of channels used

§ direct - e.g., direct via sales force, Internet, etc.

§ indirect - e.g., retailers, wholesalers, agents

§ combination

o Level of market coverage

§ intensive - e.g., mass availability

§ selective - e.g., wide availability

§ exclusive - e.g., restricted availability

o Outlets handling product

§ types

§ number/level of penetration

§ geographic location

o Perceived product positioning

§ in relation to competitors

o Distribution costs

· Identify planned changes:

o Summarize changes

o Justify changes:

§ Due to results

§ Due to research

§ Due to competition

§ Others

· Describe planned changes:

o Objectives

§ e.g., account development, gain distributor support, account maintenance, account penetration

o Types of channels employed

o Level of market coverage

o Outlets handling product

o Product positioning

o Distribution costs

5. Pricing Tactics

Pricing decisions can be a complicated undertaking that requires knowledge of the market, competitors, economic conditions and, of course, customers. For this section it is not necessary to provide extensive financial evaluation of the pricing decision since most of this will take place in Part 5 Budgeting and Implementation, however, the use of tables and graphs may be helpful in showing pricing trends and pricing decisions within various categories. (Length: 1-2 pages)

· Brief summary of current pricing decisions:

o Describe pricing decisions by:

§ model/product

§ segment

§ channel

§ geography

§ other

o Adjustments and Allowances

§ Discounting

§ Payment terms

· Identify planned changes

o Summarize changes

o Justify changes:

§ Due to results

§ Due to research

§ Due to competition

§ Other

· Describe planned changes:

o Objectives

§ e.g., return on investment, market share, profit level, price leadership, match competition, etc.

o Factors affecting price setting

§ Cost factors

§ Fixed costs to be covered

§ Variable costs

§ Customer expectations

§ Company expectations

§ e.g., margins, ROI

§ Demand Considerations

§ market elasticity

§ position on product life cycle

§ Competition

§ Economic conditions

§ Legal/regulatory considerations

o Pricing Options

§ list, preferred or suggest pricing

§ adjustments and allowances

§ sub-divided by:

§ product/model

§ customer

§ channel

§ other

6. Other Tactics

(These may be optional.)
In this section include a discussion of other marketing decision areas. Two additional areas – customer support service and marketing research – are provided though it is possible others exist. (Length: 1 page or less)

· Customer Support Services

o Brief summary of current customer support services decisions:

§ types offered:

§ e.g. call center, online, service desk, walk-up, on-site

§ customers being serviced:

§ e.g., current customers, potential customers, distributor network

§ service delivery method:

§ e.g., internally managed, contracted, partnership arrangement

o Identify planned changes

§ Summarize changes

§ Justify changes:

§ Due to results

§ Due to research

§ Due to competition

§ Other

o Describe planned changes

§ Objectives

§ e.g., availability, response time, satisfaction level

§ Types offered

§ Customers being serviced

§ Service delivery method

§ Spending and timetables

· Market Research

o Brief summary of current market research efforts

§ Projects

§ e.g., completed, in process, under consideration

§ Research responsibility

§ e.g., internally managed, contracted, partnership arrangement

§ Identify planned changes

§ Summarize changes

§ Justify changes:

§ Due to results

§ Due to research

§ Due to competition

§ Other

§ Describe planned changes

§ Objectives

§ e.g., customer analysis, market analysis, competitor analysis, exploratory

§ Projects

§ Service responsibility

§ Spending and timetables

Part 5: Budgeting, Performance Analysis and Implementation

In many ways this part of the marketing plan is the area that will ultimately “sell” the plan to those who have the power to give final approval. This step consists of three key topics:

· Marketing Budget - presents a clear picture of the financial implications of the plan

· Performance Analysis - presents the expected results of the plan including its financial impact

· Implementation Schedule - shows timelines and identify those responsible for performing tasks

1. The Marketing Budget

This section should lay out spending requirements necessary for meeting the plan’s objectives. It is expected that several tables and graphs will be presented along with narratives explaining important budget issues. (Length: 2-3 pages)

· Outline spending requirements for each tactical marketing decision

o Breakdown each tactical category

§ e.g., types of advertising, types of services offered, marketing research expense, etc.

o Show detailed spending timetable by:

§ Month

§ Year

o Show spending by:

§ Product (if plan is for more than one)

§ Segment/Geographic area

§ Distribution Network/Channel

2. Performance Analysis

This section should contain financial implications of the plan in terms of contributions to the company’s bottom line. HOWEVER, as was stated in the beginning of the Marketing Plan tutorial, the marketing plan is generally a component of a larger business plan. We do not cover a full financial discussion such as a full balance sheet, income statement, detailed ratio analysis, etc., though these could be included if necessary. Again, numerous tables and graphs should be presented. (Length: 2-3 pages)

· Marketing Contribution

o Show revenue versus expenses for marketing decisions

§ Revenue should follow sales forecasts (see Part 4)

§ Show expenses by category (e.g., advertising) and sub-category (e.g., types of advertising)

o Breakdown by:

§ Product

§ Segment/Geographic area

§ Distribution Network/Channel

· Breakeven Analysis:

o Primarily for plans that involve the sale of tangible products, the breakeven analysis indicates the level of sales (generally described in terms of number of units sold) required before the company realizes positive marketing contribution.

o Requires understanding of:

§ Fixed costs – cost that occur no matter level of sales

§ Variable costs – cost that may change as level of sales varies

o Present as both graph and chart

§ Show breakeven point over level of sales volume

§ From zero through best scenario sales level

§ Show breakeven over time

· Ratio Analysis

o Limit to important marketing ratios that are common to the industry

§ e.g., sales cycle, advertising-to-sales, conversions from trial to purchase, website traffic-to-search engine marketing, etc.

3. Implementation Plan

Provide a discussion of how and by whom the plan will be carried out. (Length: 1-2 pages)

· Detailed schedule of tasks and those responsible:

o Breakdown by important tactical marketing decisions

§ Best presented in a Gantt chart format.

o Identify those responsible for each important task:

§ If unsure leave generic

§ e.g., advertising agency, web hosting company, distributors, etc.

Part 6: Additional Considerations

The final major section in the Marketing Plan prepares the reader for potential situations that may affect the plan. In this way the reader is provided with a somewhat more balanced picture of what the company may face as it attempts to implement the plan. (Length: 2-3 pages)

1. Internal Factors

· Discuss company factors that may affect the plan

o e.g., loss of funding sources, loss of key personnel, current plan is linked to success to other products that may not reach their goals, production problems, etc.

2. External Factors

· Discuss outside factors that may affect the plan

o e.g., supply chain problems, competitor reaction, technological developments, legal environment, societal changes, economic issues, governmental concerns, etc.

3. Research Limitations

· Discuss problems that may exist with the research information on which assumptions are being made

o e.g., difficult to find solid data on a certain subject