The marketing plan

Background
Background
Description of product or service
What market(s) does it serve
Other relevant information (e.g. Who sells it, where is it sold)
Identify major historical events that have shaped the market

Outline
Executive Summary
Research and an analysis of
marketing issues
A statement of marketing goals
and objectives
Detail of strategies
How these objectives will be achieved
A plan for evaluation
A budget

Objectives
Quantity
– how many?
– market share?
– profits?
Time Frame
Rationale

Research and Analysis
Life Cycle Analysis
1. Stage of Market Life Cycle – projects are most often in the start up phase of the life cycle
2. Market Potential
3. Trends
4. Size of Market
5. Competition

SWOT
Relative strengths
Relative weaknesses
Opportunities
Threats

Customer Research
Customer Analysis
a. Who are or who will be the users of the product
b. How are buying decisions made and what are the implications
How does customer view your product and competitor’s products
Does your product have a unique advantage (usp)

Segmentation of the Market
Segmentation of the Market – end user
(Primary, secondary, and tertiary markets)
a. Demographics
b. Psychographics
c. By benefits sought
d. Other variables
By type of product

Positioning
a. Establish key customer benefits for the category
b. Determine how your brand and product is positioned with respect to
these benefits
c. Position by price
d. Main Advantages/Disadvantages of your products position relative to competitor’s
positions

Product Costs
What are the key elements of the cost of
the product?
What are the opportunities for savings?
How accurate are cost estimates versus actual costs?
Distribution costs
Competitor’s cost position

Cost and Profit Analysis
Components of Cost
Can costs be reduced
Will product quality change if costs are reduced
How does cost compare to competition
What changes need to be made to be more competitive

Recommended Marketing Strategy
Target markets to be served
Set the marketing mix
Projected sales
Budget – for each element of the marketing mix
Explain why marketing expenditures will result in increased sales
Best and worse case sales projections and profit and loss result