Objective:
- Following this guide, the learner will be able to produce a clear marketing plan for the product(s) / service(s)
Overview:
A simple, step-by-step guide to laying out a marketing plan.
Activity:
The Challenge
A brief description of the product / service to be marketed and any associated goals, such as sales figures and / or strategic goals, markets you want to enter, customers you want to recruit etc.
Situation Analysis
Proposed Company Analysis
- Introduction – A description of the proposed business and how it will function.
- Goals – what do you want achieve? (related to marketing / sales)
Potential Customer Analysis (Remember to Address Different Groups)
- Number – how many?
- Type – who are they?
- Value Drivers – what values of the product will attract them to purchase?
- Decision Process – how will they decide to buy?
- Focus – will particular customers buy particular products, why?
Competitor Analysis (This can be presented using a table)
- Who Are They?
- What Do They Sell?
- How Much For?
- What Are Their Strengths?
- What Are Their Weaknesses?
- What is Their Market Share?
Partnerships Analysis
- Who Are They?
- How Will They Work With You?
- What Are Their Strengths?
- What Are Their Weaknesses?
Macro-Environmental Climate
- PESTLE Analysis
Micro-Environmental Climate
- SWOT Analysis
Market Segmentation
Present a description of the market segmentation as follows (again this could be presented as a table):
Segment;
- Description
- Percent of sales
- What they want
- How they use product
- Support requirements
- How to reach them
- Price sensitivity
Simply repeat this process for each segment.
Selected Marketing Strategy
Based on the above discuss why the strategy was selected and then contextualise this decision using the marketing mix (4 P's) of product, price, place (distribution), and promotion.
Product
The product decisions should consider the product / services advantages and how they will be leveraged, these should include:
- Brand name
- Quality
- Scope of Product Line
- Warranty
- Packaging etc.
Price
Discuss pricing strategy, expected volume, and decisions for the following pricing variables:
- Pricing Strategy
- Retail vs. Cost Price
- Discounts
- Any Payment Terms and Financing Options (if applicable)
- Leasing Options (if applicable)
Distribution (Place)
Decision variables include:
- Distribution channels, such as direct, retail, distributors & intermediates
- Criteria for evaluating distributors
- Locations
- Logistics, including transportation, warehousing, and order fulfilment
Promotion
- Advertising, including how much and which media.
- Public relations
- Promotional programs
- Budget
- Projected results of the promotional programs
Short & Long-Term Projections
The selected strategy's immediate effects, expected long-term results, and any special actions required to achieve them. This section may include forecasts of revenues and expenses as well as the results of a break-even analysis.
Conclusion
Summarize all of the above.
Appendix
Calculations of market size, commissions, profit margins, break-even analyses plus any material collected to illustrate key points.