Writing a Marketing Plan

By Linda Christie
Posted Saturday, August 21, 2004

Marketing:

What do you want from us,
That we do well,
At a competitive price,
That you want to get,
From us, rather than someone else?

INTRODUCTION

Marketing is an essential part of business operations. And, it oftentimes determines how successful your business will be. The marketing plan allows business owners and managers to maintain a thorough understanding of the marketing program, and use it to extract advantages from the marketplace.

Remember, the aim of your marketing efforts is not only to attract and keep a steady group of loyal customers, but also to expand your customer base by identifying and attracting, new customers, as well as reduce risks by anticipating market shifts that can affect your bottom line.

To help you accomplish this aim, your marketing plan should include what marketers dub as the 4 P's of Marketing:

* Product/Service
* Price
* Place
* Promotion.

Completing the following marketing plan questionnaire will help you:

* Describe your target market
* Identify your competition
* Develop your marketing budget
* Develop your pricing strategy
* Develop an effective promotional strategy.

MARKETING PLAN QUESTIONAIRE
Mission

* What is ABC Inc.'s mission, purpose in business?

Marketing Problems and Opportunities

* Brainstorm every problem you anticipate in marketing ABC, Inc. products/services:
* Do not worry about whether or not you know how to solve any of these problems.
* List everything, no matter how small. List every opportunity even though it may seem unrealistic or even silly.
* Rank Priorities
* After you have brainstormed these items, place them in their order of importance; that is, from the biggest problem to the smallest or least important problem; and from the biggest opportunity to the smallest.

Marketing Objectives

* Where are you now, and where do you want to be one year from now?
* State ABC, Inc.'s marketing objectives in terms of measurable results; for example:

* Name and number of different product lines
* Name and number of different products/services within each product line,
* Sales/production volume
* Revenue
* Number of customers to be contacted, etc.

Customer Base

* Describe the hypothetical, perfect customer in terms of size and industry.
* What are their problems, needs and wants?
* Why would these customers choose ABC, Inc.?
* How can ABC, Inc. recruit these clients?
* How can ABC, Inc. reach these customers? For example, personal contacts, advertising, direct mail, telemarketing, etc.
* What will be the biggest obstacle in recruiting these clients?

Competition

* Who are ABC, Inc.'s major competitors?
* How are ABC, Inc.'s products/services different?
* How are ABC, Inc.'s products/services similar?
* What is the price of their products/services?
* How do they sell, distribute and advertise their products/services?
* What are their strengths and weaknesses?
* How do they meet your customers' needs?
* Unique Market Benefit: What will be the primary feature which will make ABC, Inc. different from competing companies?

Marketing Action Plan

* Develop an action plan which will accomplish ABC, Inc. objectives.
* Keep your priorities in mind so you are spending the bulk of your time and resources on the issues identified as having the highest priorities; for example, the biggest problems and best opportunities identified above.
* Develop a Marketing Calendar
* Using the ABC, Inc. marketing action plan, schedule your actions into a 12-month calendar.
* Delegate: Assign specific responsibilities and realistic target dates to specific people and contractors.
* Each person can then break down these major marketing objectives into manageable tasks.

Check Your Progress Periodically

* Set up a periodic review of plan vs. actual performance to see what has been done, what still needs to be accomplished, and how to help someone who is stuck.
* The marketing plan will need to be adjusted periodically to meet the very real and often fast-changing needs of ABC, Inc.

Marketing Analysis

* Product Line/Product Item
* Name the product ABC, Inc. offers.
* Identify it by product line and product item name.
* Tell who the intended customers/groups are.

Packaging

* How will the product be offered to the customer?
* What can the prospective customer "see"?
* Price/Cost
* What is the cost of the product?
* What are the industry trends in the pricing for this product?
* How much will you charge?
* Will prices be different for different organizations?
* Will you offer volume discounts?
* Is there a minimum order? What kind?

Distribution

* What are your major channels of distribution or promotion?
* How will ABC, Inc. deliver the product?
* How will ABC, Inc. charge for shipping and handling?

Promotion and Advertising

* How will you use advertising to promote ABC, Inc. products/services?
* How can free public relations help?
* Who will promote your product? How?
* What media does your primary customer read, watch, listen to?
* What do different media charge?
* What opportunities for publicity already exist?
* What is your advertising budget?

Management

* Who will be responsible for marketing the products/services offered?
* Who will decide on the final design?
* Who will decide whether or not a product being developed should be produced and marketed?

Compensation

* How will the principals receive compensation?
* Be sure to consider all services such as legal, accounting, office work, sales representatives (commissions?), consultants, and so forth.

Image

* What image should ABC, Inc. project? For example: Friendly? Low Budget? Patriotic? Innovative? Slick and professional?
* How will ABC, Inc. achieve this image with its customers?

Assets

* What is the single most essential element in achieving ABC, Inc. success? For example: on-time delivery, flexibility, quality, customer service, good contacts, pricing, unique product, unique packaging, etc.

About the Author
Linda Christie
linda_christie@cox.net
(http://www.lchristie.com)
402-932-3977
Cell: 402-203-0684 (CST)