How to Write an Effective Marketing Plan Template For a Product or Service
1. The business marketing plan is needed as an annual planning process within the marketing functional areas.
2. It is also needed as a specialized strategy to introduce a new product into the market, new planning process or trying a new strategy to fix an existing problem.
3. A simple marketing plan outline and customer analysis are also a component of an overall business plan.
3 GUIDELINES TO ACHIEVE A GOOD MARKETING PLAN FOR A NEW PRODUCT
Steps on How To Write a Marketing Plan
1. A COMPLETION DATE:How long does it take?You will need to set a deadline in advance for the period that you intend to achieve the goals you have in mind. You should understand that establishing an effective sales and marketing plan will be so crucial to the success of your goals and objectives of marketing your products and services.
2. THE BUDGET: when you set a marketing strategy, your budget is as well very important to take note of. It is very important to establish ahead of time how much you intent to spend, because this will have a major impact of the strategies that you have decided to put into place.
3. THE TEAM: Set a team up, identify their roles and responsibilities. And ensure that you set achievable goals for each team and also be very keen on working within a time frame.
ESSENTIAL COMPONENTS OF A STRATEGIC MARKETING PLAN
1. A BACKGROUND ANALYSIS
Give some background about your business. Set the detailed opportunities and challenges that the business has experienced over the years. This will definitely help you in defining the business capabilities and also identify massive opportunities within the market. A good background analysis of your business will also play a key role in assisting you to meet your customers’ needs
2. THE MARKETING OBJECTIVES
These are the goals and your intent of book or event marketing. What you actually want your basic marketing plan to achieve. These objectives are either financial, intent to increase sales, or product marketing focused to increase or build your brand awareness. The most effective way to define your marketing objectives is to follow the SMART acronym.
• Specific: Have clearly outlined objectives
• Measurable: indicate your intention of your measure of success
• Achievable: will the set objectives achievable in the business
Are you knowledgeable about the resources needed to achieve your set objectives?
• Timely: You will need to be clear about the set time which you have planned to achieve your objectives.
3. A MARKETING STRATEGY AND MARKETING MIX
This will assist you to define the overall navigation for your marketing campaign plan. And will also assist you to analyze the best channels to bring your products and services to the market in ways that will give maximum satisfaction to your customers and clients.
Marketing mix are just the elements that comprise your marketing strategies. In this case, your marketing mixes are the 7P’s of marketing – Product, pricing, position, promotion, people, process and physical environment.
4. MARKETING ACTION PLANS AND BUDGET
The actions plans and budgets are the elements that will bring your strategies and marketing goals to life. These are the most important tools that even marketing plan software use for effective business planning and implementation. You will need to make them detailed, definitive and revised regularly to make them successful.
5. ORGANISATIONAL IMPLICATIONS
Organizational implications are often overlooked when most business set out to draft a good marketing plan proposal. Let us take for instance, if your goal is to drive up your customer base by 15% and also your staff by 10% – will the available resources at your disposal at the moment be able to cater for the increase that you plan for? Will it be possible for you to outsource some tasks? It is very important to take not of all these decisions in your marketing strategy plan.
6. EVALUATION AND MONITORING PLAN
In order for you to ensure maximum improvement, it’s very important to test and measures the results of your marketing activities.
7. SUMMARY AND SUPPORTING DOCUMENTATION
The marketing plan executive summary and situation analysis should bring into one piece all the key components of your marketing plan example that you have highlighted. It should serve as a quick reference tool that you can utilize at any point in time to keep your set goals on track while writing a marketing plan.