Professional Documents
Culture Documents
Marketing Plan
Marketing Plan
Marketing Plan
An
Effective
Marketing
Plan
visit: www.studyMarketing.org 1
You can download this brilliant presentation at:
www.studymarketing.org
Visit www.studymarketing.org for more
presentations on marketing management,
branding and business strategy
visit: www.studyMarketing.org 2
Key Elements of
Marketing Plan
Outline or Table of Contents
Executive Summary
Situation Analysis
Objectives
Strategies
Tactics
Budget
visit: www.studyMarketing.org 3
Outline or Table of Contents
visit: www.studyMarketing.org 4
Executive Summary
visit: www.studyMarketing.org 5
Executive Summary
Summary allows everyone to grasp
quickly the main thrust of the plan and
then lets them read further in search of
the information most critical to his or her
part in it.
visit: www.studyMarketing.org 6
Situation Analysis
• This section describes where your
company stands at that moment in time.
• It includes background on past sales,
major competitors, and explanations of
recent sales and profit results.
visit: www.studyMarketing.org 7
Situation Analysis
visit: www.studyMarketing.org 8
Objectives
visit: www.studyMarketing.org 9
Objectives
• Is the purpose of your marketing plan to
launch a new product or line of products?
• If so, your objective might read, "Achieve
10 percent market share within the first
12 months of product launch."
visit: www.studyMarketing.org 10
Objectives
• Is the purpose of your marketing plan to
boost revenue from existing products?
• Your objective then might read, "Increase
revenue 12 percent from our existing line
of products over the next six months
while maintaining current profit margins."
visit: www.studyMarketing.org 11
Strategies
Strategies are the things you need
to do to accomplish your
objectives. If your objective is
where you want your company to
be, the strategy is the route you
need to take to get there.
visit: www.studyMarketing.org 12
Strategies
• For example, if the objective is to increase
sales revenue, your strategies might be one
or more of the following:
• Increase the average price on all units
• Increase overall sales volume
• Sell more of the higherpriced units
• Any combination of these
visit: www.studyMarketing.org 13
Tactics
• Whereas strategies establish a broad outline
of how you want to achieve your objectives,
tactics are specific actions.
• "Increase awareness among potential
customers" is a strategy. "Develop a
brochure to send to new prospects" is simply
a tactic for implementing that strategy.
visit: www.studyMarketing.org 14
Budget
• Of course, each tactic has a price. Add up all
that you plan to use and you know what your
budget must be to achieve your goals.
visit: www.studyMarketing.org 15
Marketing Plan:
An Example
PlasticMaker Inc.
visit: www.studyMarketing.org 16
Executive Summary
• PlasticMaker is a plastic injection molding firm with
annual sales of $2 million.
• This plan was developed to provide opportunities for
increasing sales 40 percent or more over the next
three years.
• The company will expand its sales territory and
attract new customers through direct mailing,
publicity, and the personal selling efforts of
independent manufacturers' representatives.
visit: www.studyMarketing.org 17
Situation Analysis
• PlasticMaker uses technologically advanced plastic
molding equipment capable of unattended
operation to provide justintime service to clients
in Minnesota, Wisconsin, and Michigan's Upper
Peninsula.
visit: www.studyMarketing.org 18
Situation Analysis
• Sales have been flat over the past two years due
to a highly pricecompetitive market, but have
experienced steady growth the four previous
years.
• The company has an excellent reputation and
typically turns 15 percent of quote requests into
customers.
visit: www.studyMarketing.org 19
Situation Analysis
• Opportunities exist for expansion to Illinois and
Iowa due to higher price points and fewer
competitors in this region.
visit: www.studyMarketing.org 20
Objectives
• Increase sales 40 percent over the next three
years while maintaining 20 percent profit margins
or better.
• Retain current mix of customers so no one cus
tomer represents more than 20 percent of sales.
• Relieve Joe Dokes, owner, of the burden of sales,
allowing him more time for administration and
quality control.
visit: www.studyMarketing.org 21
Strategies
• In all promotion materials, present clear,
consistent image of quality and service to target
market.
• Hire Independent Manufacturers' Sales
Organization to relieve Dokes of sales
responsibilities.
• Expand to markets beyond current geographic
region of Minnesota, Wisconsin and the Upper
Peninsula.
visit: www.studyMarketing.org 22
Strategies
• Provide ample sales support for sales
representatives.
• Develop training programs for sales
representatives designed to encourage loyalty
and enhance service image of firm.
• Respond to quote requests faster.
visit: www.studyMarketing.org 23
Tactics
• Seek out, retain, and train independent sales
representatives (at a 10percent commission rate) to
cover the territory of Illinois and Iowa, which will increase
customer base by 120 percent.
• Purchase CAD/CAM design system. Customer research
indicates it is important to return quote requests promptly.
Current average turnaround time is ten days.
PlasticMaker will cut this time to five days by purchasing
a CAD/CAM design system and using computer
dedicated fax lines to return quote requests promptly.
visit: www.studyMarketing.org 24
Tactics
• Hold annual sales meeting. The additional sales
representatives require training and a sense of "team
spirit."
• Develop new brochure. Feedback from the field indicates a
need for a more detailed brochure that can be used as a
direct mailing prior to a sales call, a "leave behind" at the
sales call, or as a followup to a customer contact.
visit: www.studyMarketing.org 25
Tactics
• Obtain magazine reprints. Use highquality reprints of
company's trade journal advertisements for distribution by
sales representatives, in mailings, and at trade shows.
visit: www.studyMarketing.org 26
Tactics
• Direct mailing. Purchase prospective customer mailing
lists targeting by ZIP Code (Illinois, Iowa), Standard
Industry Classification (SIC) code, and sales (over $10
million but less than $1 billion). Develop mailing designed
to attract 5 percent or better prospect inquiries, of which
15 percent will become customers. Provide lists to sales
representatives and notify them which portion of the list
will be mailed and when.
visit: www.studyMarketing.org 27
Source of Reference
visit: www.studyMarketing.org 28