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The Components of a Great Marketing Plan |
Written by Janice Jenkins
Thursday, 26 June 2008
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Great marketing plans can be short and simple, or long and extremely detailed. Generally, the short and simple ones work better if implemented correctly. The general idea of a marketing plan is to structure how you'll attract customers with your marketing materials. This means lots of research and competitive analysis. Your marketing plan should be the origin of your activities for the next several months to a year. Be sure to keep the plan a "live" document - it can and should be changed to match the current economical climate and adjust to whatever is happening within your company. Here are the components you need to create a marketing plan that will be sure to garner results: Research You need to find data about the industry you want to enter, as well as data about the people you want to reach. Here are some specific items to research: Product - what is available now, and how your competition is marketing their product Market - where the market is now as well as seasonal patterns Customers - demographics, needs, buying decisions Sales - industry sales, both current and past Suppliers - do you have many to choose from and bargain with, or is there one dominating supplier that you'll need to use? Target Market Decide on a niche market you want to sell to and describe the people that make up that market. Product Describe how your product relates to the market. What gap will your product fill? What does the market use now and what else is needed? Competitors What is your unique selling point that sets you apart from your competitors? How do your competitors brand their product? What kind of marketing vehicles do they use? How well has it worked for them? You need to know your competitors and the marketing tactics they use. Mission Statement A mission statement doesn't have to be long. Just write a short paragraph that states: • Your key market - who you're selling to • Your contribution to the market - what you're selling • How you're different - your unique selling point Marketing Strategies How will you get the word out? How will you promote your product? List many strategies you want to explore or consider. Some examples include •Networking - events, associations, organizations •Direct marketing - sales letters, poster printing pieces, billboards •Advertising - print, TV, radio •Trade shows •Web site Pricing and branding From your research, come up with a price point that will compete well with your competitors. Also decide where your product will be positioned and how you'll attain brand awareness. Budget What marketing strategies can you afford? What do you need to outsource? Do you need to hire any people? Goals Set goals associated with numbers. Goals that you can measure, or that are quantifiable. For example, a goal can be to sell 50 products per week or to increase revenue by 25% this year. Goals can be associated with customer satisfaction, sales, profits - anything you want to attain that is measurable. Contingency Plan You don't want to think about it, but you need it. You need to have some backup marketing strategies in place just in case some unforeseen circumstance comes up or if one of your strategies doesn't work. By thinking through all these components and keeping your marketing plan "live," you'll be ready to create an effective marketing campaign and you'll be ready for any obstacles in your way. For comments and inquiries about the article visit: Poster Printing Article Source: http://www.ArticleBlast.com |
About The Author:
Janice Jenkins is a writer for a marketing company in Chicago, IL. Mostly into marketing research, Janice started writing articles early 2007 to impart her knowledge to individuals new to the marketing industry.
Janice Jenkins is a writer for a marketing company in Chicago, IL. Mostly into marketing research, Janice started writing articles early 2007 to impart her knowledge to individuals new to the marketing industry.
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