What is the marketing plan?

Marketing plan: The start of production and investment activities is always accompanied by scientific study and planning. In large firms, before starting production operations, the research and marketing group begins its activities to assess the feasibility of product acceptance and market needs.

Also, in cases where the goods produced are not sold or in competition with similar goods they do not have a suitable market, it is necessary for the research and marketing group to take action and draw up the necessary plans and studies to obtain information about the market situation and the goods to be done.

All group and individual activities to market a product must be calculated and formulated into specific formats, and activities must be discarded without study and planning. For this purpose, in marketing each product, the program related to that product should be prepared very carefully, studied and given to the managers to take the necessary decisions based on it.

Therefore, the marketing planning process is an important part of the planning and budgeting process in an organization. A marketing plan defines marketing goals and proposes strategies to achieve them. Of course, we must not forget that this plan does not include all the goals and strategies of the organization…

What is the marketing plan?

The term marketing plan is used to describe the methods of applying marketing resources to achieve marketing objectives. Market segmentation, market understanding, market size forecasting and practical market share planning are all included in the marketing plan concept.

What are the benefits of a marketing plan?

The marketing plan will create great benefits for organizations and companies. Some of these benefits include:

  • Better use of company resources
  • Identify marketing opportunities
  • Boosting group morale
  • Establishing organizational identity
  • Assist the organization in achieving its goals

What is the structure of a marketing plan?

The general framework for writing a marketing plan follows the structure below, and its content will also change based on the estimates and studies conducted.

1- Management summary

This section contains comprehensive, high-level information about the marketing plan, which is made available to managers and encourages them to study the details of the plan. Since most managers are always short of time, they revise the marketing plan hastily and at a glance, and as a result, they may not clearly understand the main message and purpose of the plan.

Therefore, it is necessary to prepare a complete summary of the plan in one or two pages at most, and in the last few lines, information on the required financial matters should be written down. This summary is of great importance as a communication tool for employees and potential clients who want to be aware of our mindset and thinking.

2-Analysis of the situation

One of the most important and prominent parts of the marketing plan is the situation analysis, which is prepared and presented from various aspects. Among the analyzes to be performed in this section are company analysis, customer analysis, competitor analysis, peer analysis, environment analysis, and SWOT analysis.

SWOT is a type of organizational analysis that enables organizations to analyze their internal resources in periods of strength and weakness and coordinate them against the external environment in periods of opportunities and threats.

3- Market segmentation

In this segment, the market is segmented based on different priorities. Information about each of these segments is extracted based on things like percentage of sales, market needs, consumption, reach, and price sensitivity.

4- Periodic marketing strategies

This part of the work involves making a list of different proposals before arriving at the final strategy. For this, priorities must be set. Priorities include discounts on product prices, how to re-brand, positioning through prizes, valuable products, and so on.

5- Selected marketing strategies

In this section, we shall discuss the reasons for choosing a particular strategy. For this purpose, mixed marketing indicators which include product, price, distribution and promotion should be taken into account.

Product: Product-related topics should be about the benefits of using the product and describe things like product brand, quality, after-sales service, etc.

Price: Discussion about pricing strategies includes list price variables, discounts, payment terms, etc.

Distribution: Distribution-related items include various distribution channels, brokers, and logistics including handling, warehouse, and order tracking.

Promotion: includes activities related to public relations, advertising programs, personal selling, etc.

6- Short and long-term planning

In this part, based on the above-mentioned steps to implement the plan, necessary planning and timings are made and the time needed to achieve each of the set objectives is mentioned.

7- The result

The last part includes a summary of the material prepared in the previous parts, which expresses the results of the project. Among the items related to this section, we can mention the appendices, market stats and estimates, tables, earnings, etc.

Marketing plan preparation

To plan the marketing plan, the company’s objectives and strategies must be determined in advance. These goals and strategies will be determined by the company’s senior managers. The stages of preparing a marketing plan are shown in Figure 1.

Marketing goals

After analyzing the situation, it is possible to define marketing objectives. The purpose of marketing is to create a balance between the company’s products and markets. In fact, objective marketing determines which products will be sold in which markets.

Marketing objectives must be defined and measurable in order to be directed towards an achievable goal. Objectives should be set so that actual performance can be compared against them. Objectives can be expressed in terms of price or market share.

Marketing strategy

Marketing strategy is the method of achieving the marketing objective. Strategy describes the method chosen to achieve a specific goal and the means to achieve that goal within a time frame. Of course, these methods do not include the details of the work that is followed up on a daily basis. In general, marketing strategies are related to the marketing mix (product, price, promotion and distribution).

Marketing tactics

Marketing tactics turn strategy into action plans. Each business plan includes the current status of the company, goals and activities of the company, responsibilities, start and end time, and costs.

Implementation, monitoring and evaluation

After developing the marketing plan, the mentioned plan must be implemented and then the results obtained should be compared with the objectives in order to evaluate the actions taken. After comparing the results with the pre-determined goals, the company’s goals can be reviewed.