marketingplantemplateeng.docx

marketingplantemplateeng.docx

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marketingplantemplateeng

THEMARKETINGPLAN

IMPROVINGYOURCOMPETITIVEEDGE

AMarketingPlanisawrittenstrategyforsellingtheproducts/servicesofanewbusiness.Itisareflectionofhowseriousacompanyisinmeetingthecompetitionheadon,withstrategiesandplanstoincreasemarketshareandattractcustomers.AneffectiveMarketingPlanisbackedbycarefullycollectedmarket,consumerandcompetitorinformation,sometimescitingprofessionaladvice.

WhyPrepareaMarketingPlan?

AgoodMarketingPlanwillhelpyoutoimproveyouroddsagainstmoreexperiencedcompetitorsandnewlyemergingones.ThePlanenablesyoutorecognizeandtakeactiononanytrendsandconsumerpreferencesthatothercompanieshaveoverlooked,andtodevelopandexpandyourownselectgroupofloyalcustomersnowandintothefuture.

ThePlanalsoshowstoothersthatyouhavecarefullyconsideredhowtoproduceaproductthatisinnovative,uniqueandmarketable-improvingyourchancesofstablesalesandprofits-reasonsforinvestorstofinanciallybackyou.

CONTENTSOFAMARKETINGPLAN

TitlePage

∙Includethenameofthecompany,periodoftimethatthecontentsofthemarketingplancovers,andcompletiondate.

∙Useacleanandprofessionalformatwithexamplesofthecompanylogoandproductdesignsandpackagingtypes.

TableofContents

∙Listallthecontentsofthemarketingplanintheordertheyappear,citingrelevantpagenumbers.

∙Listtables,graphsanddiagramsonaseparatepagesothatthereadercanlocatethesepresentationtoolsquickly.Listtheappendicesthatwillbeincludedattheendofyourdocument.

CoverLetter

∙Thislettershouldformapersonalizedoverviewofthedocument.Highlightareasoftheplanthatareparticularlycrucialtothereader,providinganindicationofhowthisplanwillhelpyourbusinessattainoverallsuccessinthefuture.

HistoricalBackground

∙Givethereaderanindicationofwhereyourbusinessideaoriginated,citingthedateyoubeganresearchingintotheidea,theexistenceofanymentorsoradvisors,thescopeofyourbusiness（thespecificofwhatthebusiness"does"）,andopportunitiesforexpansion.IndicatehowthefuturesuccessofthebusinesscanbeattributedtothestrategiesfoundintheMarketingPlan.

MarketingGoalsandObjectives

Tointroducethissection,includethe"missionstatement"ofthebusiness;anideaofwhatitsgoalsareforcustomers,clients,employeesandtheconsumer,thenproceedwith:

SalesObjectives

∙Compareyourprospectsforfuturesaleswitheitherpastperformance,orageneralindustryperformancereport.Byanalyzingtheindustryaverageaswellasyourownperformanceyouwilldemonstratetothereaderthatyoucanlook"beyondyourborders"tothecompetitiontogiveyourselfanideaofhowwellyouareperforming,orwhatgeneraldifficultiesthewholeindustrymaybefacing.

∙Identifyindustrywideproblemsandcreatestrategiestochallengethem.Thiswillalsodemonstratethatyouhavethenecessaryforesighttoallowyoutorecognizeproblemsinthefuture.

∙Set"benchmarks"foryoursalesobjectivesbyusingquarterlyreportsasawayofevaluatingthesuccessofyouroverallmarketingapproach.Indicatehowmuch"marketshare"youintendtocollectoverthenext5years,toshowthatyouexpecttoadvanceyourpositionagainstyourcompetitorsusingyour"individual"approach.

ProfitObjectives

∙Includeyourpredictionsforaftertaxprofitforeachofthenextfiveyears.Relatethisprofitassumptionbasedonthecontentsofyouroperatingbudget'scostsfiguresfoundinyourBusinessPlan.

∙IndicatehowyouwillreinvestyourprofitmargininspecificareasoftheMarketingPlansfutureactivities,aswellascounteringoperatingandstartupcostsyoualreadyhave.Don'tneglectthefutureoftheMarketingPlanbecauseyouhavetodeferthecostsyoualreadyhave.AsoundMarketingPlanshoulddomorethan"payforitself"anditsactivities.

PricingObjectives

∙Focusontheweaknessesofyourcompetitorsbyofferingbetterqualityatacompetitiveprice.Rememberwhatyourownattitudesaretowardsproductsyouconsumeonadaytodaybasis.Rememberhowyoureacttohighpricesforpoorormarginalqualityorservice.

∙Justifyingyourpricesforyourproductorservicewhilethinkinglikeacustomerwillgiveyouanadvantage.Surveyasamplingofyourpotentialcustomergroupandaskthemdirectlyhowtheyfeelaboutcompetitorsproducts,services,industrypricesandanyareasforimprovement.

ProductObjectives

∙Muchlikewhatyouwouldbedoingforyourprices,focusonthewants,needsandperceptionsofyourconsumersandthegeneralpublic.Identifyanyproblemsforyourindustry/product.

∙Showhowyouwillattractmorecustomerswhilekeepingtheonesyouhave.Determinethedeterminingfactorsofcustomerpreferencetowardsaproduct,likeprice,orsocialconsiderationssuchasenvironmentalimpact,productqualityorconvenience.

∙Indicatethegoalsyouhaveforqualityofservice,levelofservice（speedandaccuracy）,customersatisfaction,andyourownflexibilitytosupportconsumerdemandsandrequests.

MarketAnalysis

∙Examinewhetherornotyourindustryisgrowing,maturingordeclining.

∙Ifitisdeclining,identifytheproblemsthatexistandbeabletochangetheonesyoucan.Showhowyoucanadapttochangesthatyoucan'tcontrol.

∙Ifyourindustryismaturing,showhowasanewcompany,youmaybeabletobetteradapttoexternalforces;betterthanthemorematurecompetition.

∙Inanewlyemergingandgrowingmarket（thebestscenario）,differentiateyourselffromnewcompetitors.Showhowyouexpecttobecomeamajormarketshareholder,usinganewapproachtothemarketplaceandutilizingthelatesttechnology.Identifytheoldermethodsofgeneratingyourproduct/servicebeingchallengedbyyourbusiness'approach.

∙Acknowledgetheproblemsandchallengesofthemarketplaceyouareentering.Useyouranalysistoconstructastrategythatwillputyouaheadofyourcompetition.

∙Looktowaysofprolongingthe"life"ofyourbusinessifyourecognizethatwhatyourgettingintoisthreatenedbynewlyemergingtechnologiesandbusinessapproaches.Toadvanceyourbusinessintheneweconomymeansfindingyour"niche",or,creatingoneofyourown.

∙Inyourmarketanalysisfocusisonkeyareaslikeindustrywidesalesperformance.Acknowledgewhysales（asawhole）maybedeclining.Looktonationalandprovincialaverages,citingreasonsforpoorperformance.Reasonscanbebothexternaltoaparticularbusinessesoperations,orinternaltothewaythebusinessoperates.Peoplecalled"industryanalysts"havedevelopedawayofdeterminingthecausesofbusinessfailures,focusingonthedirectionnewlyemergingbusinesscantaketorealizesuccess.Referencetheseprofessionals.

∙Yourfocusshouldalsoturntothelocalscene,sincelocalmarketsmayormaynotfollowthegreaterindustrytrendforvariousreasons.Comparethelocalsituationtothenationalandprovincialaverages;thetrendsinsales,andtheestimatedtotalmarketthatcanbereachedbylocalcompanies.

∙Recognizethepositionyourlocalcompetitorshavetakeninthelocalmarket;theclienteletheyserve,theproducttheyproduce,thepricetheyexpecttochargefortheirproductsandservices.

∙Finally,relateyourownbusinessespositiontothepositionofothers,reflectingonthematurityandexperienceofyourbusinesscompetitors.

EnvironmentalAnalysis-GlobalBusinessEnvironment

Conductanenvironmentalanalysistolookatandcommentontheworldinwhichyouwillbeoperating.Unemploymentratesforthepast2to5yearsandtheimpactithashadonsalesandtheoverallcustomerbaseisaneffectivewayofdemonstratingtheeffectof"external"pressuresontoyourbusiness.Threatsduetoenvironmentalconditions（likeunemployment,layoffs,recession,highinterestrates）reduceconsumeractivity,andshouldbeexploredinyourmarketingplan.

PoliticalandLegal

∙Identifytheregulations,permits,insurance,liability,municipalzoningandtaxationrequirementsthatyoumustfollowinordertooperateyourbusiness.

∙Thebusinessclimateofyourtown,villageandsurroundingareaisanimportantinfluenceonyourday-to-dayoperations.Reflectontopicssuchastaxation,zoningandotherfactors.

Demographics

∙Describethepopulationbasethatexiststosupportyourproduct.Identifythemarketsizeforyourproduct,andthepeoplethatmakeupyourproduct/service'sconsumergroup.Provideinformationabout:

∙Wheretheylive,Whatproductsdotheybuy,Howmuchtheyspendonsimilarproductseachyear,

∙Wheretheyshopfortheseproducts,etc.Indicatewhetherornotyourproductisgearedtowardsaspecificagegroup,withspendingpatternsandconsumerdemands.Indicatewhetherthisgroupisshrinking,expandingoryettobetappedinto.

EnvironmentalAnalysis-LocalBusinessEnvironment

Conductanenvironmentalanalysisthatlooksatandcommentsonyourlocalareaandyournetworkofbusinesscontacts,competitorsandcustomers.

Suppliers

∙Identifyyoursourcesfordirectpurchasingbydescribingtheirlocations,thefrequencyofyourordersandthetypeandamountofsuppliesyouwillbeordering.

Social/Cultural

∙Explainanyparticularclientsupportorotherspecializedconsumergroupsthatcanbeidentifiedapartfromthegeneralpublic.Describethespendingandproductrequirementsofthesegroupsandthecharacteristicsofyourcompanythatsupporttheproductandservicestheyaredemanding.Indicatewhetheryourproductispartofthedaytodayactivitiesofaspecificgrouporthegeneralpublic.Identifythe