Contents of Marketing Plan
1. Executive summary - The opening section of the marketing plan that presents a short summary of the basic goals and recommendations to be presented in plan.
2. Current marketing situation - The section of a marketing plan that describes the target market and company's position in it. The current marketing situation is section of a marketing plan that describes target market and company's position in it. Significant sections include:
- A market description.
- A product review.
- Analysis of competition.
- A section on distribution.
3. Opportunities and Issues Analysis- This section need the marketing manager to look ahead for threats and opportunities that product(s) may face. A company marketing opportunity would be a gorgeous arena for marketing action in which the company would enjoy a competitive advantage. In opportunities and threats section, managers are forced to anticipate significant developments that may have an impact, either negative or positive, on the firm. Having studied the product's threats and opportunities, manager can now set objectives and consider issues that will affect them.
4. Objectives - Objectives should be stated as goals the company would like to reach throughout the plan's term.
5. Marketing strategy - The marketing logic by which the business unit hopes to gain its marketing objectives. Marketing strategy consists of precise strategies for the target markets, marketing mix and marketing expenditure level. Strategy should be formed for all marketing mix components. Marketing budget is a section of marketing plan that indicate projected revenues, profits, and costs. The last section of marketing plan outlines the controls that will be utilized to monitor progress. This permits for progress checks and corrective action.
6. Action programs - This section sets out what will be done, by whom, when, and how much will be spent doing it.
7. Projected profit-and-loss statement - Marketing budget section of plan indicate projected revenues, costs and profits/surpluses.
8. Controls - This last section outlines control measures that will be utilized to monitor progress. Goals can be set out monthly, weekly, quarterly, annually or for all periods. Following evaluation of results, actions are suggested and implemented in the next period.