handouts | marketing plan

THE MARKETING PLAN

o  A detailed document outlining and organizing every move, every action plan, every decision point that is meant to be implemented or applied for/by a brand/product/service to achieve specific goals.

o  Annual Marketing Plans, Quarterly Marketing Plans

o  It’s the one document that guides an entire department’s yearly or quarterly accomplishments.

The thing with marketing plans…

o  There is no cookie-cutter way of doing marketing plans.

o  The way information is presented in a marketing plan may vary according to: n  the business issue/s that need to be addressed n  the research results you have gathered n  the strategies and action plans you are proposing

o  No matter how much information or how less, a marketing plan becomes useless if it cannot clearly direct you and the brand. (inconsistent messages, confusing objectives, unrealistic action plans, empty strategies, too much unnecessary information)

The thing with marketing plans…

o  Sometimes, with too much information in your hands – you’ll have the tendency to lose focus on the problem that you need to be solving. n  So, for every strategic decision – ask “How does this contribute to

solving the business issue or the marketing issue?”

o  Since marketing plans present a real responsibility to the brand, the ideas that comprise the plan must basically be: n  Actionable – It can be done. n  Substantial – It can will contribute greatly. n  Accessible – It can be received by the target consumers. n  Measurable – It can be known if it was effective.

The contents of a Marketing Plan:

I EXECUTIVE SUMMARY - A one-page dossier highlighting the situation, the objective, major strategic points and action plans for the brand.

- If your boss had 2 minutes to spare, he can read this section and more or less, know the direction you’re taking.

The contents of a Marketing Plan:

II CURRENT MARKETING SITUATION - This is the section where you give the big picture objectively. A. Market Description - Describing the dynamics of the industry or category where your brand is a player. - Describing the dynamics of the competitors that your brand is playing against or with. - Describing general consumer behavior when it comes to this industry/category/ brand.

The contents of a Marketing Plan:

II CURRENT MARKETING SITUATION - This is the section where you give the big picture objectively. B. Product/Brand Review - About product’s/brand’s performance from their POV – sales, pricing, revenue, market share, brand positioning, communication efforts, etc - About product/brand’s equity from POV of the consumer à ENTER RESULTS OF YOUR CONSUMER RESEARCH.

C. Review of Competition - Identifying direct and indirect Competition; assessing their market position and strategies - Knowing their performances as well.

The contents of a Marketing Plan:

II CURRENT MARKETING SITUATION - This is the section where you give the big picture objectively. D. Review of Distribution - Evaluates recent sales trends and other developments in major distribution channels.

The contents of a Marketing Plan:

III SITUATION ANALYSIS - After knowing what you know about the brand and all the factors affecting it – this is where you focus on what’s important to know about the brand.

A. Strengths B. Weaknesses

C. Opportunities D. Threats

Intrinsic qualities of the brand, perceptions made FROM / OF the brand; internal to the brand

External factors that affect the brand, therefore must be responded to by the brand

The contents of a Marketing Plan:

III THE BUSINESS ISSUE - The business concern/situation that you need to address.

IV THE MARKETING OBJECTIVE

- The mission of the marketing; after a year of efforts, what will the marketing aim to achieve?

WAIT! - Make sure that the business issue can be solved by marketing.

The contents of a Marketing Plan:

V KEY STRATEGY DECISIONS - This is where you lay-out your ideas and plan of attack. - This is where you present what is, and then what should be done.

A. Target Consumers - If you are proposing a new segment, or a new way of communicating to your segment – describe your consumer through research findings about them. - Demographics, Psychographics

- Put a face to your consumer. à Remember your first paper?

The contents of a Marketing Plan:

V KEY STRATEGY DECISIONS - This is where you lay-out your ideas and plan of attack. - This is where you present what is, and then what should be done.

B. Product - Compelling consumer benefit - Competitive Product Advantage - Reason-to-believe - Product Positioning - Product Image and Personality

The contents of a Marketing Plan:

V KEY STRATEGY DECISIONS - This is where you lay-out your ideas and plan of attack. - This is where you present what is, and then what should be done.

C. Pricing - What do you intend to do about pricing? - What are the logistical explanations for your recommendations?

D. Place / Distribution - What do you propose to do for the distribution of your product/service? - Why do you think your recommendations will work?

The contents of a Marketing Plan:

VI THE MARKETING COMMUNICATIONS PLAN - Since action plans need to be detailed (mechanics, descriptors, etc), let’s put that in a separate section. - This is where you outline the ways, methods, and tools you will need to communicate to your target consumers what you have recommended the brand to be.

A. Action Plan 1 (Ex. Print Advertising) - Present the objective of this action plan. (From the last session, remember?) - Your explanation for this decision; why do this at all? - Specific mechanics that describe the implementation of this recommended action plan.

- What’s the creative approach for this action plan?

After all your suggestions…

The contents of a Marketing Plan:

VI THE MARKETING COMMUNICATIONS PLAN - Since action plans need to be detailed (mechanics, descriptors, etc), let’s put that in a separate section. - This is where you outline the ways, methods, and tools you will need to communicate to your target consumers what you have recommended the brand to be.

B. Timetable - Map out in an the entire year the duration (beginning and end) of your recommended marketing efforts.

The contents of a Marketing Plan:

VII BUDGET RECOMMENDATIONS - This is where you itemize the expenses needed for your marketing efforts to be implemented. - The company must be able to see exactly how much will they have to shell out for your marketing programs. - If the objective for each program is clear, the marketing action plan is good, then the company will feel that is worth-spending for. - Here you can present forecasts on revenue for the company, based on your findings.

The contents of a Marketing Plan:

VIII EVALUATION & CONTROL MEASURES - In this section – you will propose the ways you can measure the progress and effect of all the programs you will be suggesting. - That way – if some programs don’t measure up to their expected turn-out, the company can right away decide to change strategies.

IX APPENDICES