Marketing Plan Outline
This marketing plan outline will help business owners put together a plan to launch a new product or service or will help those who are starting a small operation or working their operation.
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Marketing Plan Outline:
1.Executive Summary:
The executive summary is really a highlight page of the contents of the marketing plan outline. Typically it needs to address the key points of your system and answer the who, what, why, when, where, and how questions. This summary is always done at the end – after the other parts of the strategy are finished.
2.Company Review:
◦Background information on the organization (date incorporated, business purpose, history, number of workers, primary product/service.
◦Include the company’s vision policy, which is a view of the company’s long-term and future route, and the company’s value argument. Both will keep your system focused and aligned on your operation.
3.Environmental Scan:
◦Industry analysis
◦Competitive Analysis; including an analysis of competitive advantage
◦Suppliers to your operation
◦Regulatory
◦clients
4.Market:
There are two types of markets: mass markets (you’re marketing to the world – much like an online business) or target markets (you’re selling to a specific targeted section of the market) – also referred to as direct marketing or marketing segmentation.
As a small operation owner, typically you will want to direct your market and you will therefore need to do market segmentation.
◦Market segmentation is about segmenting the target market so that you can better target them with your offer. This could be done at a fairly high level or at a very detailed level.
5.Identify Your Target market with your marketing plan outline:
◦Select your main, secondary, and perhaps even your tertiary markets based on your market segmentation.
6.Build Your market Strategy:
Your market strategy needs to include a main goal or mission statement (that connects to the Company’s mission statement). It also needs to have your marketing objectives and how you plan to accomplish them (the action plan next steps).
◦Why does what you sell profit your (potential) client?
◦Describe your market’s needs and wants.
◦Describe how your operation will meet them.
◦Define your product’s position from the perspective of your target customer and relative to your competitors.
◦Define the general techniques you will use (keeping in mind your target market’s need and wants and your operation product or service benefits.
◦Define marketing mix:
◦Product or Service: Features, advantages, benefits, specifications, improvements, problems/challenges.
7.Measure Your results:
Your marketing plan outline must contain a plan to measure business performance and specific marketing results.
◦How many sales did you get through your affiliate or referral programs?
◦How many sales through the web; through walk-in?
◦Did buyers inundate your phone lines after they study about you in the local paper?
Keep track of your selling strategies, programs and tactics and measure outcomes against these activities. Focus on those activities that give you the best results and spend less time, energy and money on those activities that don’t increase orders.
8.Marketing Plan Outline – Additional Points To Include:
Your marketing plan outline needs to also include the orders strategy, the business operations plan and business financial plan.