marketingplantemplateeng.docx

1、marketingplantemplateengTHE MARKETING PLANIMPROVING YOUR COMPETITIVE EDGEA Marketing Plan is a written strategy for selling the products/services of a new business. It is a reflection of how serious a company is in meeting the competition head on, with strategies and plans to increase market share a

2、nd attract customers. An effective Marketing Plan is backed by carefully collected market, consumer and competitor information, sometimes citing professional advice. Why Prepare a Marketing Plan?A good Marketing Plan will help you to improve your odds against more experienced competitors and newly e

3、merging ones. The Plan enables you to recognize and take action on any trends and consumer preferences that other companies have overlooked, and to develop and expand your own select group of loyal customers now and into the future. The Plan also shows to others that you have carefully considered ho

4、w to produce a product that is innovative, unique and marketable- improving your chances of stable sales and profits - reasons for investors to financially back you. CONTENTS OF A MARKETING PLAN Title Page Include the name of the company, period of time that the contents of the marketing plan covers

5、, and completion date. Use a clean and professional format with examples of the company logo and product designs and packaging types. Table of Contents List all the contents of the marketing plan in the order they appear, citing relevant page numbers. List tables, graphs and diagrams on a separate p

6、age so that the reader can locate these presentation tools quickly. List the appendices that will be included at the end of your document. Cover Letter This letter should form a personalized overview of the document. Highlight areas of the plan that are particularly crucial to the reader, providing

7、an indication of how this plan will help your business attain overall success in the future. Historical Background Give the reader an indication of where your business idea originated, citing the date you began researching into the idea, the existence of any mentors or advisors, the scope of your bu

8、siness (the specific of what the business does), and opportunities for expansion. Indicate how the future success of the business can be attributed to the strategies found in the Marketing Plan. Marketing Goals and ObjectivesTo introduce this section, include the mission statement of the business; a

9、n idea of what its goals are for customers, clients, employees and the consumer, then proceed with: Sales Objectives Compare your prospects for future sales with either past performance, or a general industry performance report. By analyzing the industry average as well as your own performance you w

10、ill demonstrate to the reader that you can look beyond your borders to the competition to give yourself an idea of how well you are performing, or what general difficulties the whole industry may be facing. Identify industry wide problems and create strategies to challenge them. This will also demon

11、strate that you have the necessary foresight to allow you to recognize problems in the future. Set benchmarks for your sales objectives by using quarterly reports as a way of evaluating the success of your overall marketing approach. Indicate how much market share you intend to collect over the next

12、 5 years, to show that you expect to advance your position against your competitors using your individual approach. Profit Objectives Include your predictions for after tax profit for each of the next five years. Relate this profit assumption based on the contents of your operating budgets costs fig

13、ures found in your Business Plan. Indicate how you will reinvest your profit margin in specific areas of the Marketing Plans future activities, as well as countering operating and start up costs you already have. Dont neglect the future of the Marketing Plan because you have to defer the costs you a

14、lready have. A sound Marketing Plan should do more than pay for itself and its activities. Pricing Objectives Focus on the weaknesses of your competitors by offering better quality at a competitive price. Remember what your own attitudes are towards products you consume on a day to day basis. Rememb

15、er how you react to high prices for poor or marginal quality or service. Justifying your prices for your product or service while thinking like a customer will give you an advantage. Survey a sampling of your potential customer group and ask them directly how they feel about competitors products, se

16、rvices, industry prices and any areas for improvement. Product Objectives Much like what you would be doing for your prices, focus on the wants, needs and perceptions of your consumers and the general public. Identify any problems for your industry/product. Show how you will attract more customers w

17、hile keeping the ones you have. Determine the determining factors of customer preference towards a product, like price, or social considerations such as environmental impact, product quality or convenience. Indicate the goals you have for quality of service, level of service (speed and accuracy), cu

18、stomer satisfaction, and your own flexibility to support consumer demands and requests. Market Analysis Examine whether or not your industry is growing, maturing or declining. If it is declining, identify the problems that exist and be able to change the ones you can. Show how you can adapt to chang

19、es that you cant control. If your industry is maturing, show how as a new company, you may be able to better adapt to external forces; better than the more mature competition. In a newly emerging and growing market (the best scenario), differentiate yourself from new competitors. Show how you expect

20、 to become a major market share holder, using a new approach to the marketplace and utilizing the latest technology. Identify the older methods of generating your product/service being challenged by your business approach. Acknowledge the problems and challenges of the marketplace you are entering.

21、Use your analysis to construct a strategy that will put you ahead of your competition. Look to ways of prolonging the life of your business if you recognize that what your getting into is threatened by newly emerging technologies and business approaches. To advance your business in the new economy m

22、eans finding your niche, or, creating one of your own. In your market analysis focus is on key areas like industry wide sales performance. Acknowledge why sales (as a whole) may be declining. Look to national and provincial averages, citing reasons for poor performance. Reasons can be both external

23、to a particular businesses operations, or internal to the way the business operates. People called industry analysts have developed a way of determining the causes of business failures, focusing on the direction newly emerging business can take to realize success. Reference these professionals. Your

24、 focus should also turn to the local scene, since local markets may or may not follow the greater industry trend for various reasons. Compare the local situation to the national and provincial averages; the trends in sales, and the estimated total market that can be reached by local companies. Recog

25、nize the position your local competitors have taken in the local market; the clientele they serve, the product they produce, the price they expect to charge for their products and services. Finally, relate your own businesses position to the position of others, reflecting on the maturity and experie

26、nce of your business competitors. Environmental Analysis - Global Business EnvironmentConduct an environmental analysis to look at and comment on the world in which you will be operating. Unemployment rates for the past 2 to 5 years and the impact it has had on sales and the overall customer base is

27、 an effective way of demonstrating the effect of external pressures onto your business. Threats due to environmental conditions (like unemployment, layoffs, recession, high interest rates) reduce consumer activity, and should be explored in your marketing plan. Political and Legal Identify the regul

28、ations, permits, insurance, liability, municipal zoning and taxation requirements that you must follow in order to operate your business. The business climate of your town, village and surrounding area is an important influence on your day-to-day operations. Reflect on topics such as taxation, zonin

29、g and other factors. Demographics Describe the population base that exists to support your product. Identify the market size for your product, and the people that make up your product/services consumer group. Provide information about: Where they live, What products do they buy, How much they spend

30、on similar products each year, Where they shop for these products, etc. Indicate whether or not your product is geared towards a specific age group, with spending patterns and consumer demands. Indicate whether this group is shrinking, expanding or yet to be tapped into. Environmental Analysis - Loc

31、al Business EnvironmentConduct an environmental analysis that looks at and comments on your local area and your network of business contacts, competitors and customers. Suppliers Identify your sources for direct purchasing by describing their locations, the frequency of your orders and the type and

32、amount of supplies you will be ordering. Social/Cultural Explain any particular client support or other specialized consumer groups that can be identified apart from the general public. Describe the spending and product requirements of these groups and the characteristics of your company that support the product and services they are demanding. Indicate whether your product is part of the day to day activities of a specific group or the general public. Identify the