What is a Marketing Plan

What is a Marketing Plan?

Do you know what is a Marketing Plan? Well! It is a planning document about Marketing that outlined the key actions and target achieve its marketing objectives. In the Marketing Plan document, it covers details in Branding Activities, Target Market, Target Customer and Intention in Product or Services. A Marketing Plan has a planning horizon anything between one to five years.

What is a Marketing Plan Template?

From the name itself, a Marketing Plan Template is a document in the form of a template aimed to be used to guide a Marketing Planner to include essential information include what is a Marketing Plan which is the essential understanding. A Marketing Plan is also use to standardize the format in terms of sequence of information, presentation format as well as its depth of details.

What is a Marketing Plan Template essential characteristics ?

What is a Marketing Plan essential characteristics? Depending on the complexity of the business, the essential characteristics or categories of a Marketing Plan Template may include the followings:-

1)    Marketing Objective

It is the direction of a business describe in a statement for communication purpose. Marketing Objective may  include Market Share; Competitive Position; Sales Turnover in long and medium term period

2)   Marketing Strategy

Depending on the competitiveness, a Strategic Planning Process is involved in evaluating business environment and formulate its own strategy. In this Strategic Planning Process, it takes into consideration of competitors information and compared that with your own operation capabilities.

3)    Business Analysis

What is a Marketing Plan is not complete without a complete analysis of the business in general and its competitiveness in specific. The analytical tools used to analyse market data, competition etc as an input to the strategy planning process. Also include various analysis in market changes, investment policies etc

4)   Review of Marketing Performance

In a Marketing Plan, there include some pertinent key performance indication for various marketing plan or action. In a Marketing Plan, it include a Marketing Performance Review on a periodic basis to assess the health of the Marketing Plan. Proper selection of Marketing Performance Indicator using the Balanced Scorecard concept of Lead and Lag indicator help to  stay focus what is critical for the business. The review of its performance is to ensure the effectiveness of the actions.

The above four factors quoted are  the essential characteristics of What is a Marketing Plan.

Comments are closed.