A marketing plan summarizes what a marketer has learned about the marketplace and outlines how the firm will achieve its marketing objectives over the planning period, usually one year. It contains tactical guidelines and financial allocations for marketing programs. The plan is customer-focused, draws on multiple functions, and is developed as a team to allow continuous revisions in response to changing market conditions. Key components include an executive summary, situational analysis, marketing strategy, financial projections, and implementation controls.
2. Marketing Plan
• A marketing Plan is a written document that
summarises what the marketer has learned
about the market place and indicates how the
firm plans to reach its marketing objectives.
• It contains tactical guidelines for the
marketing programmes and financial
allocations over the planning period.
3. Marketing Plan
• Marketing plans are becoming more customer
and competitor oriented.
• They draw more realistic from all the functions
and are team developed.
• Planning is becoming a continuous process to
respond to rapidly changing market
conditions.
• Most MPs cover one year in 5 to 50 pages.
4. Contents of Marketing Plan
• Executive summary and table of contents.
• Situational analysis
– This contains relevant background data on the sales,
costs, the market, competitors, and the various forces
in the micro environment.
– How do we define the market, how big is it , and how
fast is it growing?
– What are relevant trends?
– What is the pdt offering, and what critical isuues do
we face?
– SWOT analysis.
5. Contents of Marketing Plan
• Marketing Strategy.
• Financial projections.
• Implementation controls
– Monitoring and adjusting implementation of the
plan.
– Goals and budget of each month or quarter
– Periodical review and corrective action
– Contingency plan
6. • Strategic planning for individual business
entails the following activities:
• Defining the business mission
• Analysing external opportunities and threats
• Analysing internal strengths and weaknesses
• Formulating goals
• Formulating strategy
• Formulating supporting programmes
• Implementing the programmes
• Gathering feedback and exercise control.