The Basics Of A Marketing Plan

Market Summary

Describe your market – past, present, and future. Review changes in your market share and the market share of your competition. Provide biographies for your senior management and key employees, and explain their responsibilities. Discuss the size of the market and your main competitors. Discuss your advertising expenses and how you set the price for your product or services.

Product Definition

Describe in detail the product or service that you are marketing. State what need the product or service fills for your customers.

Competition

Describe the competitive landscape. Who are the major players, how long have they been in business, how successful are they? Provide an overview of your competitors' products and their marketing strategies. Discuss their strengths and weaknesses and compare them to your strengths and weaknesses.

Positioning

Describe how your product or service is positioned for distribution and sales. Discuss your distribution channels. Clearly state how your product or service fits into the existing market and how it measures up to your competitors, both previously and in the future. Obviously state what benefit the consumer will receive from the purchase of your product or service.

Communication Strategies

Describe how you will notify consumers that your product or service exists and is available for sale. Discuss your target market, and explain the demographic research that helped you select your target market. Talk about what media you will use for marketing, and discuss internet marketing.

Packaging & Fulfillment

Describe in detail how your product or service is packaged and how you have made it attractive to consumers. Discuss the form of packaging and the resulting appearance. Explain how you determined what price to charge. Discuss how you will respond to customer orders in a timely manner. Include a discussion about additional items that you may want to provide to customers, but will not enclose with the main product or service.

Cost of Goods Sold

Provide the calculation of the cost of goods sold.

Launch Strategies

Explain how your product or service will be introduced to the market. How will you announce that your product or service is available and ready to be sold to customers? If possible, do a press release about your new product or service and summarize what your press release will say. Provide detailed information about how you will advertise and the amount of your promotional budget. Attach detailed budget information.

Public Relations

What strategy will you have for public relations and how will it be implemented? Provide an overview of your public relations strategy. If you have a backup plan for public relations, describe it in detail. Explain how you intend to promote your product or services with speaking engagements, publications, or other methods.

Advertising

Describe you advertising plan, how you will execute it, and the timing for execution. Explain which media outlets you will use and the timing for the ones you use. Will you use print advertising, web advertising, or some other form of advertising? Provide an overview of the cost of each type of media outlet you will use.

Other Promotion

If you plan other promotional strategies, provide an overview. Describe any other promotional strategies, the timing, the costs, and your budget. Explain what goals you intend to accomplish with the other promotional strategies and discuss what results you expect. For example, will you do direct marketing or third-party marketing? Will you develop co-marketing arrangements and strategic alliances with other companies?

Pricing

– Summarize your specific pricing and pricing strategies. Compare them to your competitors and similar products or services. Discuss whether you anticipate future price increases and summarize your policy regarding key pricing issues.

Distribution

– Describe your distribution strategy to position your product or services in the market. Describe your channels of distribution and how reliable they are. Discuss how distribution will be organized and whether there are any logistics problems. Discuss in detail every distribution channel and what percentage of distribution will be contributed by each channel. This is a good place for a pie chart. If you expect to make international distributions, discuss those channels and the international distribution strategies. Explain any issues or complications that are specific to international distribution. Explain your international pricing strategy and discuss any requirements for local variations outside the US

Success Metrics

Provide your first year goals and your five year goals. Explain what measures you will use to determine success or failure. If there are any critical requirements for success, describe them in detail and explain how you will deal with them. If there are timing issues that are critical for success, describe them in detail and explain how you will deal with them.Five year goals

Jo Ann Joy, CEO

http://www.IndigoBusinessSolutions.net , Phone (602) 663-7007

The future of your business starts here.

For more information about these and other important business topics and legal consultation, please visit our website at http://IndigoBusinessSolutions.net Copyright 2006. Indigo Business Solutions is a registered trade name.


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