Essential Contents of a Marketing Plan

Excerpt from On Target: The Book on Marketing Plans

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 forecase, and expense budget.

• Situation Analysis: Normally this will include a market analysis, a SWOT analysis (strengths, weaknesses, opportunities, and threats) ,and competitive analysis. The market analysis will include market forecast, segmentation, customer information, and market needs analysis.

• Marketing Strategy: This should include at least a mission statement, objectives, and focused strategy including market segment focus and product positioning.

• Sales Forecast: 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 along is a bare minimum.

• Expense Budget: This ought to include enough detail to track expenses month by onth and follow up on plan-vs.-actual analysis. Normally a plan will also include specific sales tactics, programs, management responsibilities, promotion, and other elements. This expense budget is a bare minimum. expenses, such as insurance, travel, and qualified retirement plans are typically tax-deductible

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 traced and followed up. Plan-vs.-actual analysis is critical to the eventual results, and you should build it into your plan.

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