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Your Marketing Plan Review

Situation overview

This is a clear, concise overview of the situation and statement of the rationale for marketing the product or service. This will include sections on pertinent history and background of the company including market/industry trends, affected publics, a detailed description of your product or service and your assessment of how and why it will fit the current needs/wants of the target market.

This section should include a SWOT analysis or summary of the trends, competitors, internal strengths and weaknesses, external threats and opportunities which include industry trends and demand, competition, consumer wants and concerns, economic climate, social and/or environmental issues and any technological or regulatory factors that may apply.

Goal and objectives
The goal and objectives of the marketing plan should be stated clearly and simply. The goal is the broad statement of the desired outcome and states the position/mission. The objectives or specific purposes to be achieved in accomplishing the goal should, insofar as possible, be stated as measurable outcomes. Simplest is usually best in the goal and objectives department. 

Target markets

The target markets or publics should be carefully laid out and identified as primary and secondary targets (minimum 1 each primary and secondary) with demographics to include buyer's age range, gender, geographic location and income. The target public profiles should include buying trends, buyer motivations and patterns.

  • Who is the buyer?
  • Why do they buy?
  • When do they buy?
  • What kinds of buyers are they?

Place/distribution

This section includes how you will distribute your product or service with an explanation of how your distribution system targets your markets and how it fits your objectives.

Pricing

This section includes your rationale for pricing the product or service, how the price relates to the competition and the potential customer and fits your objectives.

Position/message statements

This is the message that delivers what you wish your target audiences to know and remember about your product or service and tells what makes it different and/or better than other products.

Promotion

Promotional strategies are methods of reaching the desired publics to accomplish the objectives and ultimately the goal. These strategies may reach all of the targets, or some of them. However, each objective and each market audience should be targeted by at least one of the strategies in the three areas given below. The primary audiences will be the targets of the majority of the strategies/tactics while the secondary audiences will receive less attention. Also, strategies for reaching primary audiences may differ from those designed to reach secondary audiences.

Management/timeline/evaluation/budget

As the author and manager of the marketing plan, it is your job to assign responsibility for the tasks to the person or persons most suited to the task. That may be yourself or someone else in the organization. You also are responsible for the timeline for each task. Start with a one-year plan designed to test the market. Assign the tasks by start and end-dates on a 12-month timeline. Some tasks such as writing and distributing press releases may be continuing.

Each tactic also should have an evaluation method assigned so you will have an opportunity to learn what did and what did not work.

Produce a budget that realistically addresses each task.

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