After discussing the difference between the 4Ps & the 4Cs in our previous article
it’s the time to make our 1st Marketing plan!
So if you need to know how to write a killer marketing plan … Lets go 😉
First of all, let’s take an overview on the plan main sections:
1- Executive summary
2- Situational analysis
3- Marketing strategy
4- Financial projections
5- Evaluation & control
Now let’s talk about the details :3
– The Executive summary:
In this section we’ll write an overview on the whole plan, just a brief summary for every section.
– The situational analysis:
In this section we’ll try to state all the current situations for the market and the company itself
(Company resources – market needs – market segments – areas ready to grow – market trends).
You’ll do this by an analysis tool called SWOT, it refers to the market:
1- Strengths
2- Weaknesses
3- Opportunities
4- Threats
You can understand the SWOT analysis deeply by reading this article:
Also in this section you have to learn about your competitors, their key success factors and their historical results. After that you have just one step remaining to finish this section, this step is to make the PEST Analysis, it refers to the market:
1- Political factors
2- Economical factors
3- Socio-cultural factors
4- Technological factors
You can understand the PEST analysis deeply by reading this article:
Now we finished the situational analysis and we are about to go to the easy & known section for our
MarketingArticles series’ followers because it’s the marketing strategy section.
– The marketing strategy:
In this section we’ll try to write the following:
1- (Vision – Mission – Goals)
Goals should be SMART goals:
(Specific – Measurable – Achievable – Realistic – Time bounded)
2- Marketing objectives
3- Financial objectives
4- STP: Market (Segmentation – Targeting – Positioning)
5- Marketing Mix (4Ps & 4Cs)
6- Market research “We’ll talk about this point deeply later”
Now we finished this interesting section and it’s the time to talk with the numbers language in the next section 😀
– Financial projection:
In this section we’ll talk about:
1- The Break Even Point “BEP”: the point that transfer the company state from loss to profit, the point which has “Zero profit & Zero cost” and after this point you’ll start making profit.
You can see it on a graph chart in the 1st comment.
2- Sales forecast:
Here we’ll forecast the sales from every sales revenue streams every quarter
3- Expenses forecast:
Here we’ll forecast the total cost of all the company
4- The required profit margins
After surviving from these complicated equations, you’ll need to go to the final section in the marketing plan “Evaluation & Control”
– Evaluation & Control:
In this section we’ll set all the job descriptions, Authorities & responsibilities of the marketing team to achieve the plan goals, and how to evaluate their work on KPIs (Key Performance Indicators) basis and to make a risk plan for every action and to control the all repeated operations.
“In our next Article we’ll know why it’s a repeated operation”.
Now we have a killer marketing plan 😀 😀
It’s the implementation time.
Write your marketing plan and give us a feedback about the difference between your vision to the market before this article and after writing the marketing plan on the steps we said.
Finally you can check a sample plan from here: