How to Create a Marketing Plan & Statement

A marketing plan outlines a process by which you plan to reach your sales and marketing objectives.

A marketing plan and statement serve two purposes, according to "Inc." magazine. The first is to try to understand your customers, and the second is to outline an action plan for delivering your product or service to them. "Entrepreneur" magazine says to plan on spending at least a couple of months creating your marketing plan. Your marketing plan and statement should cover one year and should be reviewed by your entire marketing and management team before implementation.

Instructions

1. Write the objectives and vision statement. Your objectives are what you hope to accomplish with your marketing plan and should be outcome-driven and measurable. For example, "increase sales in the direct-marketing business unit by 10 percent within the next eight months." The vision statement is the long-term mission for your business that is both timeless and inspiring for stakeholders in your company, according to "Inc." An example of a vision statement is "we make nutritional supplements that make the world a healthier place."

2. Write a situation analysis section, which outlines the internal and external factors that influence your marketing plan and statement. Include a SWOT analysis, which is a summary of the strengths, weaknesses, opportunities and threats for your company.

3. Write a market analysis section. First, research the marketplace to set a clear definition of the market you want to target. Talk to people in your local trade associations, media organizations, chambers of commerce and other business groups to help you do this. Then describe your target market, or who you will focus your marketing efforts on. Include demographic information like age, sex, income and marital status as well as psychographic information like media preferences, likes and dislikes.

4. Write a marketing strategy section, which outlines how you will accomplish your marketing objectives. "Inc." says that in this section you should describe how you will position your business against competitors, what target markets are your best prospects to achieve your goals and how you will price your products and services.

5. Write down a description of the tactics you will use to accomplish the objectives of your marketing plan and statement. Examples of tactics you can use to promote your product or service are presentations, cold-calling, direct marketing, television and radio advertising or social media marketing. Include a measurement strategy for each tactic that describes how you will measure success.

References

• Entrepreneur: How to Create a Marketing Plan
• Inc.: How to Write a Marketing Plan