Proven Marketing Plan Templates
These are some of the most important things that companies need when developing a marketing plan:
- Market research: Gathering and classifying data about the market the organization is currently in. Examining the market dynamics, patterns, customers, and the current sales volume for the industry as a whole.
Competition: The marketing plan should identify the organization’s competition. The plan should describe how the organization will stick out from its competition and what it will do to become a market leader.
- Marketing plan strategies: Developing the marketing and promotion strategies that the organization will use. Such strategies may include advertising, direct marketing, training programs, trade shows, website, etc.
- Marketing plan budget: Strategies identified in the marketing plan should be within the budget. Top managers need to revise what they hope to accomplish with the marketing plan, review their current financial situation, and then allocate funding for the marketing plan.
- Marketing goals: The marketing plan should include attainable marketing goals. For example, one goal might be to increase the current client base by 100 over a three month period.
- Monitoring of the marketing plan results: The marketing plan should include the process of analyzing the current position of the organization. The organization needs to identify the strategies that are working and those that are not working.
By researching markets, competition, and determining the organization’s unique positioning, the organization is in a much better position to promote and sell its product or service. By establishing goals for the marketing plan, the organization can better understand whether the efforts are generating results through ongoing review and evaluation.