Marketing Plan Template
Marketing Plan Template
A Marketing plan template is part of a Marketing Plan which form a written document as a that entails the necessary key actions target to drive key activities to achieve one or more marketing objectives. It is an obvious process in a Total Quality Management organization who always strive towards an Business Excellence. Example of the objectives may include targeted Market Place, Customer Group, Branding, Product or Services. A Market planning normally has a extended period cover between one and five years depending on the natural of business and competitiveness. It is usually form the foundation and as an essential part of an overall Business Plan which is derived from a Strategic Planning process
What is a Marketing Plan Template?
From the name itself, a Marketing Plan Template is a document structured in the form of a template aimed to be used to guide a Marketing planner to include essential information about the Business Plan. For a big organization with multiple businesses, a standardized Marketing Plan Template is more useful to standardize the format in terms of sequence of information, presentation format as well as its depth of details. This standardized Marketing Plan Template helps the top management to synchronize their line of thoughts during a business / investment review meetings.
Why use Marketing Plan Template?
It is a useful guidelines ensuring the four categories of important topic are addressed in a marketing plan. It is like a cross reference to the staffs on topic for details data collection and analysis. A template shall cover topics which has big influence to the business future.
Characteristic of a Marketing Plan Template
Depending on the complexity of a business and investment, there are various detail of components in a Marketing Plan Template to suit various business needs. While some of the Business Plan has very detail Marketing Plan template as to provide a holistic view of the business / investment to executive shareholders, some can be a simple format to satisfy own requirement. In any case, there are some essential characteristics or component of a Marketing Plan Template which are strategic in nature. They may include the following components:-
1) Marketing Objective
It is referred to the purpose and direction of a Marketing Department. It would include Branding; Customer & Market Knowledge i.e. Market Coverage and Customer Base; Uniqueness of Product or Service; Customer Satisfaction as a long range objective. For short and medium term, the objective shall include Market Share; Competitive Position; Sales Turnover and Pricing. All these can be accomplished with the aid of a proper Marketing Plan Template. You have to be clear what is your Marketing Objective
2) Marketing Strategy
In most medium and large organization, a Strategic Planning is planning process that is conducted in an annual basis. Depending on the competitiveness of the the business. In a more stable business, a Strategic Planning Process involved mainly an evaluation of changes in the business environment what may differs from the assumptions used during in the Planning Process. However, in a versatile business such as Semiconductors, Computers which has very unpredictable market situation, a Marketing Strategy may be be obsolete very soon. As such, you should consider the market situation to determine the frequency of a planning which should be highlighted in the Marketing Plan Template.
3) Business Analysis
Form part of an essential input into the Marketing Strategy, a business analysis is a crucial information to assess your company’s competitive feasibility. Such Analysis may include Michael Porter’s 5-forces of competition, PEST Analysis, SWOT Analysis. A Business Analysis should be sensitive and make prompt response to changes especially in between your Planning cycle. The idea is to ensure your plan is keep current to the ever business and environmental changes. You may have noted such changes during economic crisis in recent years. Other Business analysis tools may include PEST analysis, 5 Force of Competitions
4) Review of Marketing Performance
As part of the template, it is important to include template that allow a planner to perform an objective evaluation of all Marketing Performance indicators as laid down in the plan. The template should allow an assessment of performance gap between the initial plan and actual performance. Besides quantitative indicators, a review shall include an evaluation of a Marketing System aimed to identify implementation effectiveness. The emphasis is to use system to drive activities as opposed to chasing after target alone.
To ensure the proper use of this Marketing Plan template, it is crucial to provide adequate and uniformed training to educate and understand the nuisances of a Marketing Plan Template. You should not under estimate the requirement of a uniformed training because as recorded in the past, there are cases where different people interpreted the Marketing Plan template differently. As a result, the content in a business plan is not able to capture pertinent issues.
Depending on the management style of the leadership or management team, some take training as an investment while some take it as an expense. If you are one how take training as an investment, then you should develop a feedback system for your staffs who attend the training on the Marketing Plan Template. And to get them to generate a list of improvement projects for them to work on and reinforce the use of the Marketing Plan template in accordance to the original intent of the template.
In conclusion, a Marketing Plan Template shall form one of the important planning document which shall be subjected to review and enhancement so that it serve as a useful working paper for implementation. A Marketing Plan Template shall be taken as a live document to fit for the purpose.