1) Executive Summary- In this section a business identifies a challenge or problem that occurs in the market and to its customers. The challenge must be matched with an opportunity the business can deliver to remedy the challenge. A complete understanding of what to market will be described here.
2) Company Description- A brief history of the business is included here. The basic operation and day to day functionality is detailed along with how the brand will be recognized is explained.
3) Strategic Focus and Mission- A mission statement and vision is described here.
4) Industry Analysis- What kind of trends are occurring in the industry? How are other companies dealing with the marketplace and economic situation? How are customers feeling about the industry as a whole?
5) Core Competencies/Competitive Advantage- If a company understands what sets them apart from other similar businesses, then it will maximize its profits.
6) Competitor Analysis- Slightly different than the Competitive advantage; here a company is looking at specific competitors that may threaten the business and what they are doing. Why are they different.
7) Situation Analysis- This is the beginning of the heart of the marketing plan. There is no complete breakdown of objectives here, but a company will identify its budget and basic resources with which it has to implement the entire plan.
8) SWOT- Strengths, Weaknesses, Opportunities, Threats. (see SWOT Analysis post). This is a plan of action used to convert weaknesses to strengths and threats into opportunity.
9) Market Product Focus- A company will select one to three specific products or services with which to begin addressing the stated concerns facing customers. The basic objectives or synopsis of the opportunity will be listed here.
10) Marketing Program- The four P's of marketing are detailed here.
Product- what is it? What does it do?
Pricing- How much does it cost? What is it sold for?
Placement- Where will it be available? Create an impulse to buy it.
Promotion- What type of advertising is needed? Internet, print, TV, etc.
11) Financial Projections- The company must have an idea of what its bottom line is for the plan. What is the breakeven point? What is the expected return on the investment? What are the costs involved with implementing the plan? Here spreadsheets and charts are best used and easily understood.
12) Organization- This is a follow-up to the company description but it details how each department of the company will operate specifically regarding the marketing objective. This may be different from everyday operation, but the breakdown will ensure smooth functionality in areas like manufacturing, distribution, and sales for the products listed in step 10.
13) Implementation- How long will the marketing plan take place? Days, months, years, or permanently? Is this plan intended to boost sales for a specific time period (ex. A Christmas promotion) or is the plan intended to be a permanent adaption to the company?
14) Evaluation- It is important to take notes before, during, and after the implementation of any marketing plan. What worked, what didn't, and what changes if any must take place.
15) References- Whenever a written body of work is published it is imperative to avoid plagiarism and illegal use of intellectual property. If a competitor's product is identified, permission to use the factual data must be included and correct. Other data collected from research must also be sighted and referenced properly.
When properly written and detailed as such, the marketing plan can be used internally to motivate the company or externally if investors are needed to proceed. As in any endeavor in business, it is much better to plan to avoid failure than to fail to plan.
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