Developing a strategic marketing plan is important for any kind of business venture. It will help define goals, what the business does, the customers and marketing strategies. Marketing plans help the company to understand whom they will be selling products and services to and how they will achieve this.
Basic Strategic Marketing Plan
One way to make a strategic marketing plan is to have five sections, starting with an overview that describes the business and outlines in bullet points what the major points of the plan are, according to StartupNation.com.
Next is the situation analysis where you go into what your particular market is like, describing who your potential customers are, how many of them there are, and if your customer base is likely to grow. List what the competition is and what they can offer, as opposed to what you can. List possible weaknesses of your company and how these can be corrected.
Marketing strategy is the next part of this plan. Here, list the company marketing goals, typically for the year. Explain you how will take advantage of the opportunities available to this market by using the “Four Ps,” or: product, price, place and promotion. What is the product, how much you will price it at, the place where people can get your product or service and how you will promote it?
Explain your detailed plan of exactly how you intend to capitalize on the available opportunity, such as exactly which advertising mediums you will use and what types of advertising you will do. Typical avenues are advertising, public relations, point of sale (sales staff) and word of mouth.
Finally, submit a timeline and a budget necessary to achieve your goals.
Comprehensive Marketing Plan
Another way to write your strategic marketing plan is to break it up into three sections: the marketing plan, the operations plan and the development plan. The marketing plan section is the same as the basic strategic marketing plan. This plan differs in that it covers two additional aspects of the business not covered by the basic marketing plan, namely, operations and development.
The marketing plan portion describes your business, your competitors and how you plan to capitalize on the market, using the five sections containing the overview, the situation analysis, the marketing strategy, the detailed plan and the timeline and budget.
The operations plan includes the operations portion of the business, typically 80 percent of any business, according to a Docstoc.com article. You must have marketing in sync with operations. For example, if you are targeting a luxury audience, you do not want operations producing a budget item. This portion of the plan details how marketing works with operations and who is dictating to whom.
The development strategy talks about how you will deliver on any marketing successes. According to the Docstoc.com article, this section is often overlooked in many marketing plans. Once you are successful in your marketing strategies, you must be able to meet the needs you generate. This part of the plan explains how your company will deliver the product or service you are selling.
- Photo Credit Jupiterimages/Creatas/Getty Images
Where Can I View Sample Marketing Plans?
Marketing plans are needed for virtually every business from cleaners to nonprofit organizations to banks. But if you have never created a...
How to Develop a Timeline for a Business Plan
Planning ahead is better than jumping into water head-first. This is why your business should have a timeline outlining all the necessary...
Marketing Plan Objectives & Issues
Marketing plans are written documents that help you communicate your marketing efforts for the following year. One of the most important parts...
Sales Plan Vs. Marketing Plan
Marketing plans and sales plans are not identical. Marketing plans are a broad-brush look at the customers you want and how you're...
Restaurant Marketing Plan Samples
According to the National Restaurant Association’s 2011 Restaurant Industry Forecast, 88 percent of adults say they enjoy going to restaurants. However, with...
What Is a Tactical Plan in Marketing?
Tactical planning is closely related to strategic planning. Whereas the strategic plan outlines marketing's overall goals, the tactical plan defines how an...
Marketing Strategies Examples
Marketing is one of the greatest sales tools available for start-up and existing businesses today. It is, in its simplest form, all...
Marketing Plan Presentation Examples
Marketing plan presentations are important tools, with “high risk-high reward” consequences. Decisions and money are most often on the line. Information must...
Nonprofit Strategic Plan Examples
Nonprofits often create one-, three- and five-year strategic plans to keep the organization on track financially, to manage growth and to ensure...
Examples of a Personal Strategic Plan
Whether you want to lose weight, reduce your personal debt, change jobs, buy a house or earn a degree, if you don’t...