Before you can create a marketing plan, you need to understand what marketing is and what its objectives are. Marketing is the process of creating value for a company through the creation and distribution of products or services. The goal of marketing is to generate interest in these products or services so that customers will purchase them.
To create a marketing plan, you need to understand what marketing is and what its objectives are.
The goal of marketing is to generate interest in these products or services so that customers will purchase them. The first step in creating a marketing plan is to identify your target market. This can be done by considering who your potential customer are, what needs they have, and what motivates them. Once you know who you are targeting, you can begin to create a strategy for reaching them. Traditional advertising methods like television commercials and print ads may not be the most effective way to reach your target market; instead, consider using online tools like social media or search engine optimization (SEO).
What is strategic marketing planning?
Strategic marketing planning is the application of a series of logical steps in the planning process. There is no clear formula that must always be applied and no specific model that would suit every marketing planning situation. The most authors would agree that a marketing plan is an operational document that outlines an advertising and sales strategy that an organization will implement to generate potential customers and reach its target market. However, there are still certain guidelines that are given as a general place through all the theoretical postulates and definitions of marketing observation of the given.
Situational analysis
The first data refers to the macro environment of the organization and these are factors over which the company has little or no control. They are listed under four separate headings: Political; Economic; Socio-cultural and technological arnd known by the abbreviation “PEST”.
The next part refers to what is called a company audit or, in terms of corporate planning, internal audit. The marketing part of this overall corporate audit process is called “marketing audit” and is included here as part of marketing planning because it represents the beginning of the marketing planning process.
SWOT analysis
SWOT analysis (strengths, weaknesses, opportunities, threats) is an attempt to translate company-specific factors from company audit to company strengths and weaknesses, plus external environmental factors (from PEST analysis) to external opportunities and threats.
Marketing goals
They deal with what needs to be achieved, as opposed to strategies that are a means to an end. These goals are derived from corporate-level strategies and should be very specific. The goal, therefore, must have some kind of measurable characteristic that can refer to a performance standard such as a percentage level of profit or a situation that must be achieved such as market penetration.
Predicting market potential
Without a forecast of market potential, the company does not really know what it should make its plans for.
Marketing strategy
Strategies are a means by which marketing goals can be achieved. They should detail the selected approaches that the company will use to achieve its goals. Operational decisions are then poured out of these marketing strategies and they form the tactical foundations of detailed marketing mix programs.
Assumptions and plan “B”
Assumptions refer to external factors over which the company has little control. This should be stated as a series of points that relate to and that are a preface to the development of detailed plans for the marketing mix in the next phase. Assumptions should be as few as possible, and if they are not needed, they should not be introduced. An contingency plan should be formulated for each assumption, so that in the event of an incorrect assumption, an appropriate contingency plan can be entered.
Marketing mix (4 P / product, price, place, promotion)
This part of the plan allows the organization to meet the needs of its target markets and achieve its marketing goals. Each of the “four P’s” areas must be considered in detail here, plus customers must be considered in terms of segmentation, targeting and positioning. All the ingredients of the marketing mix must be combined in an optimal way in order to work together to achieve the company’s goals. This part of the plan is about who will do what and how it will be done. In this way, accountability, responsibility and action over a period of time can be planned, scheduled, implemented and reviewed.
Budgeting
Budgeting covers not only general marketing costs, but also salaries and employee costs. If the plan requires an increase in sales and market share, then this will usually have implications for the number of employees in the marketing department, increased advertising costs, more salespeople in the field and similar.
Time scales
This usually takes the form of a Gantt chart that sets the timeline of the marketing mix activity.
Plan implementation
The plan has now been implemented within pre-established budget and resource parameters, and along an agreed time scale. More importantly, those who will implement the plan need to be informed of its details and know the role they must play within its implementation to ensure its success.
Measurement and control
Marketing plan se ne može primeniti bez praćenja, merenja i kontrole napretka. Trebalo bi uspostaviti sistem kontrole kojim se plan redovno preispituje, a zatim ažurira kako se okolnosti menjaju. Varijacije mogu nastati usled odstupanja u količini ili ceni – npr. nepovoljna odstupanja mogu nastati zbog smanjenja cena u skladu sa taktičkim delovanjem konkurenata.
The marketing information system provides key inputs for marketing planning. This information comes from the market intelligence information system, marketing research and our own business intelligence (BI). This information is then entered into the marketing plan. It is also a control mechanism, as customer reactions are also entered into this MkIS from market data through the field sales department or from marketing research studies. Sales analysis information is also entered into the system so that assessments can be made as to whether the projected sales are being achieved or not.
If the plans do not go exactly as planned, then action can be taken as needed.