Every marketing plan has to fit the needs and situation. Even so, there are standard components you just can’t do without. A marketing plan should always have a situation analysis, marketing strategy, sales forecast, and expense budget.
Standard Components of a Marketing Plan
Normally this will include a market analysis, a SWOT analysis (strengths, weaknesses, opportunities, and threats), and a competitive analysis. The market analysis will include market forecast, segmentation, customer information, and market needs analysis.
This should include at least a mission statement, objectives, and focused strategy including market segment focus and product positioning.
This would include enough detail to track sales month by month and follow up on plan-vs.-actual analysis. Normally a plan will also include specific sales by product, by region or market segment, by channels, by manager responsibilities, and other elements. The forecast alone is a bare minimum.
This ought to include enough detail to track expenses month by month and follow up on plan-vs.-actual analysis. Normally a plan will also include specific sales tactics, programs, management responsibilities, promotion, and other elements. The expense budget is a bare minimum.
Are They Enough?
These minimum requirements above are not the ideal, just the minimum. In most cases you’ll begin a marketing plan with an Executive Summary, and you’ll also follow those essentials just described with a review of organizational impact, risks and contingencies, and pending issues.
Include a Specific Action Plan
You should also remember that planning is about the results, not the plan itself. A marketing plan must be measured by the results it produces. The implementation of your plan is much more important than its brilliant ideas or massive market research. You can influence implementation by building a plan full of specific, measurable and concrete plans that can be tracked and followed up. Plan-vs.-actual analysis is critical to the eventual results, and you should build it into your plan.
Excerpt from On Target : The Book on Marketing Plans by Tim Berry and Doug Wilson
Recommended Books on the Essential Contents of a Marketing Plan:
- The Marketing Plan Handbook, 3rd Edition
- Marketing Plan Template: Writing Marketing Plans for Small Business
- Marketing Plans: How to Prepare Them, How to Use Them
- The Successful Marketing Plan: How to Create Dynamic, Results Oriented Marketing, 4th Edition
- Marketing Plan Handbook (5th Edition)
- What to Include in Your Marketing Plan
- Importance of Sales Forecasting and Inventory Management for Independent Retailers
- How to Create Your Business Plan to Fit Your Business
- How to Maintain Your Business Plan
- How to Write a Successful Sales Plan