Word processing program Printer Introduce your company. If your business is already established, state how long you have been in business and describe daily business activities such as sales and clients.
Definition[ edit ] A marketing plan is a comprehensive document or blueprint that outlines a business advertising and marketing efforts for the coming Marketing plan executive summary. It describes business activities involved in accomplishing specific marketing objectives within a set time frame. A marketing plan also includes a description of the current marketing position of a business, a discussion of the target market and a description of the marketing mix that a business will use to achieve their marketing goals.
A marketing plan has a formal structure, but can be used as a formal or informal document which makes it very flexible. It contains some historical data, future predictions, and methods or strategies to achieve the marketing objectives.
Marketing plans start with the identification of customer needs through a market research and how the business can satisfy these needs while generating an acceptable return.
A marketing plan can also be described as a technique that helps a business to decide on the best use of its resources to achieve corporate objectives.
It can also contain a full analysis of the strengths and weaknesses of a company, its organization and its products. The marketing plan would then outline the objectives that need to be achieved in order to reach the fifteen percent increase in the business market share.
Marketing planning can also be used to prepare a detailed case for introducing a new product, revamping current marketing strategies for an existing product or put together a company marketing plan to be included in the company corporate or business plan.
These are some of the most important things that companies need when developing a marketing plan: Gathering and classifying data about the market the organization is currently in. Examining the market dynamics, patterns, customers, and the current sales volume for the industry as a whole.
The plan should describe how the organization will stick out from its competition and what it will do to become a market leader. Developing the marketing and promotion strategies that the organization will use.
Such strategies may include advertising, direct marketing, training programs, trade shows, website, etc. Strategies identified in the marketing plan should be within the budget.
Top managers need to revise what they hope to accomplish with the marketing plan, review their current financial situation, and then allocate funding for the marketing plan.
The marketing plan should include attainable marketing goals. For example, one goal might be to increase the current client base by over a three-month period. The marketing plan should include the process of analyzing the current position of the organization.
The organization needs to identify the strategies that are working and those that are not working. The marketing goals normally aligns itself to the broader company objectives. For example, a new company looking to grow their business will generally have a marketing plan that emphasizes strategies to increase their customer base.
The marketing plan also helps layout the necessary budget and resources needed to achieve the goals stated in the marketing plan. The marketing plan shows what the company is intended to accomplish within the budget and also to make it possible for company executives to assess potential return on the investment of marketing dollars.
Different aspects of the marketing plan relate to accountability. After the strategies are laid out and the tasks are developed, each task is assigned to a person or a team for implementation.
The assigned roles allows companies to keep track of their milestones and communicate with the teams during the implementation process.
Having a marketing plan helps company leaders to develop and keep an eye on the expectations for their functional areas. It provides good communication within the company. The marketing plan also allows the marketing team to examine their past decisions and understand their results in order to better prepare for the future.Executive Summary This plan is presented for CrossFit Elevation, a young CrossFit gym in the Santa Fe Arts District neighborhood of Denver, CO.
Aug 28, · The executive summary is a miniature version of your marketing plan – an elevator pitch of sorts. It has a section that summarizes each component that your marketing plan covers in detail.
An Executive Summary is the summing up of the purpose of your business. It is a brief statement or account that covers the substance and main points of your company.
This Small Business Plan Sample will help you write your business plan in the correct manner. You will get to see what a business plan really looks like.
And also see how it . An executive summary is a short description of all the important and core facts of the plan. It is usually attached as the first page of the plan, and in some cases, it is also handed out as a single document, without the report.
The marketing plan is tied closely to the overall financial and business plan. This plan outlines a strategy for success, and breaks it down into comprehensible, actionable components that will enable The Sub Shop to implement marketing activities to provide a solid return on investment.