How To Write A Marketing Plan

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The key takeaways are that a marketing plan typically includes an introduction, situational analysis, marketing objectives and strategies, marketing mix, implementation plan, budget, and considerations. It aims to analyze the company's current position and outline a strategy and tactics to meet goals.

The main sections of a marketing plan are the introduction, situational analysis, marketing objectives and strategies, marketing mix, implementation plan, budget, and considerations.

The situational analysis section aims to analyze the company's current position by taking a snapshot of where things stand at the time the plan is presented. It covers market research topics like customer analysis, competitor analysis, and environmental analysis.

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How to Write a Marketing Plan


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Part 1: Introduction
Part 1 of the plan is designed to provide the reader with the necessary information to fully
understand the purpose of the marketing plan. This part also includes organizational background
information, which may be particularly important if the audience for the plan is not familiar with
the company, such as potential financial backers.
This part of the plan contains two key components:
1. Purpose of the Marketing Plan
2. Organization Mission Statement
Some of the information, in particular the mission statement, may require the input of upper-
management. The information in this part will prove useful later in the plan as a point of
reference for material that will be introduced (e.g., may help explain pricing decisions). In cases
in which there are separately operated divisions or SBU, there may also be mission statements
for each.
Purpose of the Marketing Plan
The main body of the Marketing Plan often starts with the planner providing the rationale for the
plan. The tasks associated with this section are to (Length: 1 paragraph):
Offer brief explanation for why this plan was produced
o e.g., introduce new product, enter new markets, continue growth of existing
product, yearly review and planning document, etc.
Suggest what may be done with the information contained in the plan
o e.g., set targets to be achieved in the next year, represents a departmental report to
be included in larger business or strategic plan, etc.
Organization Mission Statement
For larger firms this may already exist in a public way (e.g., found in annual report, found on
corporate website) but for many others this may need to be formulated.
The organization mission statement consists of a short, finely-honed paragraph that considers the
following issues (Length: 1 paragraph):
Identifies a stable (i.e., not dramatically changing every year), long-run vision of the
organization that can answer such questions as:
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o Why is the company in business?
o What markets do we serve and why do we serve these markets?
o In general terms, what are the main benefits we offer our customers?
e.g., a low price software provider may state they offer practical and
highly affordable business solutions
o What does this company want to be known for?
o What is the company out to prove to the industry, customers, partners, employees,
etc.?
o What is the general corporate philosophy for doing business?
o What products/services does the company offer?
In developing the vision presented in the mission statement consider:
o Company History
How company started and major events of the company, products, markets
served, etc.
o Resources and Competencies
Consider what the company currently possesses by answering the
following:
What are we good at?
What is special about us compared to current and future
competitors (in general terms do not need to mention names)?
What do we do that gives us a competitive advantage?
Consider the questions above in terms of:
people, products, financial position, technical and research
capabilities, partnership/supply chain relations, others
o Environment
Consider the conditions in which company operates including:
physical (e.g., facilities), equipment, political regulatory,
competitive, economic, technological, others
Part 2: Situational Analysis
The situational analysis is designed to take a snapshot of where things stand at the time the plan
is presented. It covers much of the same ground covered in the Preparing a Market Study tutorial,
so those preparing a Marketing Plan should check this out as well.
This part of the Marketing Plan is extremely important and quite time consuming. For many,
finding the metric needed in this section may be difficult, especially for those entering new
markets. Anyone in need of numbers should look the Data Collection: Low-Cost Secondary
Research tutorial, which may offer ideas for inexpensively locating the numbers Marketing Plan
writers may need. For those who can afford to spend to locate marketing metrics, the Data
Collection: High-Cost Secondary Research tutorial will also be of value.
The situational analysis covers the following key areas:
Current Products
Current Target Market
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Current Distributor Network
Current Competitors
Financial Analysis
External Forces
Analysis: Current Product(s)
May be able to skip this section if plan is for a new product and no related products exist.
Provide detailed analysis of the companys product(s). (Length: 1-2 pages).
Describe the companys current product(s) offerings in terms of:
o Product Attributes
Describe the main product features, major benefits received by those using
the product, current branding strategies, etc.
o Pricing
Describe pricing used at all distribution levels such as pricing to final
users and to distributors, incentives offered, discounts, etc.
o Distribution
Describe how the product is made accessible to final users including
channels used, major benefits received by distributors, how product is
shipped, process for handling orders, etc.
o Promotion
Describe promotional programs and strategies in terms of advertising,
sales promotion, personal selling and public relations, how product is
currently positioned in the market, etc.
o Services Offered
Describe support services provided to final users and distributors before,
during and after the sale
Analysis: Current Target Market(s)
Examine in detail the companys current target market(s). Obviously to do this section correctly
takes a great deal of customer-focused research. (Length: 2-3 pages).
Describe the target market approach:
o What general strategy is used to reach targeted customers? Generally approaches
include:
mass market aim to sell to a large broad market
segmentation approach aim to selectively target one (niche) or more
markets
Describe demographic/psychographic profile of the market:
o Profile criteria may include:
gender, income, age, occupation, education, family life cycle, geographic
region, lifestyle, attitudes, purchasing characteristics, etc.
Describe the following characteristics of targeted customers:
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o Needs/benefits sought by market
o Product usage
Consider answers to these questions related to customers using the product
such as:
who is using the product?
why do they use the product?
when do they use the product?
how is the product used?
o Product positioning
Evaluate how customers perceive the product in relation to competitors
products or to other solutions they use to solve their problems
o Attitudes
What is the target markets attitude regarding the companys product?
What is the target markets attitude regarding the general product
category?
i.e., exam the general attitude regarding how products from all
companies serve the target markets needs
Describe the purchasing process:
o How does the target market make their purchase?
What does the decision-making process involve?
What sources of information are sought?
What is a timeline for a purchase (e.g., impulse vs. extended decision-
making)?
o Who makes the purchase?
Does user purchase or is other party responsible (e.g., parent purchasing
for children)?
o Who or what may influence the purchase?
Provide market size estimates:
o Keep in mind these are estimates for the market not for a specific product
Provide size estimates for the potential market
What is the largest possible market if all buy?
Provide estimates of size for the current target market
What percent of the potential market actually purchased?
Provide estimates of future growth rates
At least through the timeframe for the plan (e.g., 1 year) but most
likely longer (e.g., 3-5 year projections)
Analysis: Current Distributor Network(s)
This may not apply if company does not use distributors.Evaluate how the companys product(s)
is distributed. Clearly marketing plans for a service company may not have much detail here but
this section will most likely have some relevance even for service firms (e.g., package delivery
services, online legal service, etc,). (Length: 2 pages).
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Describe the channels/supply chain employed to sell and deliver the product: (Note:
internal sales force discussion should appear under company promotion in Current
Product Analysis above.)
o Options may include:
direct to customer
indirect via a distributor
combination of both
What are the needs/benefits sought by distributors?
Describe the products role within the distributor network:
o How is this product used within the distributors business?
o How important is product within the distributors strategy?
o How is product positioned?
e.g., how does distributor view product in relation to competition
o Attitudes and perceptions about company's product(s)
Purchase process
o How does distributor network make their purchase?
o Who or what influence distributors purchases?
Demographics
o Who makes up the distributor network?
types
size
geographic region
markets served
Analysis: Current Competitor(s)
Examine the main competitors serving the same target market. For much more detail on
analyzing competitors see the Preparing a Market Study tutorial. This section may also benefit
from the use of comparison tables. (Length: 3-4 pages).
Describe direct competitors in terms of:
o Target markets served
o Product attributes
o Pricing
o Promotion
o Distribution including the distributor network
o Services offered
Discuss competitors strengths and weaknesses:
o May need to consider much more than just marketing issues such as:
financial standing
target market perception
R & D capabilities
Discuss competitive trends:
o May need to include discussion of future competitive threats
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Analysis: Current Financial Condition
Much of this information can be handled within a graphical format, such as tables and graphs,
though a paragraph explanation of each is generally required. Make sure to include total dollar
(or other currency) amounts as well as percentage market share. For more detailed marketing
plans or for plans for seasonal products, providing monthly or even weekly sales figures may be
required. Provide a spreadsheet-style layout showing detailed breakdown of marketing revenues
and expenses. (Length: 2-4 pages).
Current Sales Analysis
o Overall industry sales and market share (for at least the last year)
total market sales
total for companys product(s)
total for competition
o By segments/product categories
total for segments/product categories
total for companys product(s)
total for competition
o By Channels of Distribution
total for each channel
total for companys product(s) by channel
total for competition by channel
o By Geographic Region
total for each region
total for companys product(s) by region
total for competition by region
Profitability Analysis
o Revenues
For highly detailed plans break out into categories as shown above in the
Current Sales Analysis section.
o Marketing Expenses
Types:
Direct those expenses that can be tied to the product
Indirect or Proportional generally administrative or broad
marketing expenses that may be assigned to a product based on
some established criteria (e.g., a products percentage of overall
company sales) Note: not all companies follow this approach
For highly detailed plans break out into categories as shown above in the
Current Sales Analysis section.
Analysis: External Forces
Describe trends, events, conditions that are external (usually uncontrolled by the company) that
may impact the companys product(s) or the market. (Length: 1-2 pages)
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Areas of consideration:
o social and cultural
o demographic
o economic
o technological
o political
o legal, regulatory, ethical
Analysis: Summary
In an effort to provide an easy to visualize summary of the product(s) consider using one or more
of the following commonly used product/market analysis tools. (Length: 1 page)
Planning With the Product Life Cycle
Boston Consulting Group Growth/Share Matrix
General Electric Market Attractiveness Matrix
Finally, summarize all information in the Situational Analysis. (Length: 1 page)
Provide a SWOT analysis for the companys product(s) that includes:
o Strengths
o Weaknesses
o Opportunities
o Threats
Part 3: Marketing Strategy and Objectives
Those reading a marketing plan need a clear picture of the direction the product will take. Also,
they want to see that some accountability has been built into the plan so that the plan is not just
fluff but results in measurable actions. The best way to provide this information is through a
section devoted to identifying the key strategies and objectives for the product(s).
This section consists of three major issues:
Marketing Strategy
Financial Objectives
Marketing Objectives
Identify Marketing Strategy
In this section identify the general marketing strategy under which this plan is being developed.
It is very possible that a product will follow more than one strategy (e.g., sell more of same
product to current customers but also find new customers in new markets). Plan developers may
get some guidance and also rationale for strategy by examining results from the Situational
Analysis. In particular, planners may look to strategies that are suggested within the scope of
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Product/Market Analysis Tools. Additionally, planners should refer to the Mission Statement in
Step 1 to insure strategies are in line with how the company views itself. (Page length: less than
1 page)
Strategies generally fall under one of the following (or in some cases more than one) ideas:
Market growth (see ansoff matrix)
o Higher market penetration
Sell more to same market (i.e., get current customers to buy more or buy
more frequently)
If overall market is growing this may not necessarily mean a
growth in overall market share
If overall market is not growing this means a growth in overall
market share
o Find new markets
Sell to markets or market segments not previously targeted
o Develop new products for existing customers
o Develop new products for new customers
Market stability
o Techniques to keep the status quo
Primarily used in times of economic decline or market decline
Generally requires the taking of market share from others in the industry
Cost control
o Techniques to contain costs or operate more effectively
Can work in combination with market growth or market stability
Market exit
1. Techniques to depart a market
Determine Financial Objectives
For many organizations the ultimate goal of the marketing plan is the effect it will have on the
bottom line. Measures reflect income statement items and common ratios. (Page length: less than
1 page)
Customer sales
o by volume and growth percentage
o by segments
Channel sales
o by volume and growth percentage
o by channel
Margins
Profitability
Ratios
o use common financial ratios and other metrics associated with marketing in the
industry
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Determine Marketing Objectives
Marketing success can be measured on several non-financial market metrics. These measure are
important since these often shed light on underlying conditions and circumstances facing the
company that are not easily seen within financial measures. For instance, a company may report
strong sales for a product but market share information may suggest the product is losing ground
to competitors. The marketing objectives section will indicate targets to be achieved across
several marketing decision areas. To add additional strength to this section include marketing
metrics where possible. (Page length: less than 1 page)
Target market objectives
o market share
total
by segments
by channel
o customers
total
number/percentage new
number/percentage retained
o purchases
rate of purchases
size/volume of purchases
Promotional objectives
o level of brand/company awareness
o traffic building
(e.g., store traffic, website traffic)
o product trials
(e.g. sales promotions, product demonstrations)
o sales force
(e.g. cycle time, cost per call, closing rate, customer visits, etc.)
Channel objectives
o dealers
total
number/percentage new
number/percentage retained
o order processing and delivery
on-time rate
shrinkage rate
correct order rate
Market research objectives
o studies initiated
o studies completed
R&D objectives
o product development
Other objectives
o partnerships developed
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Part 4: Tactical Marketing Programs
This is the heart of the marketing plan. It contains descriptions of detailed tactics to be carried
out to achieve the objectives and goals established in Step 3. It is typically the longest section of
the plan, often representing 50% or more of total page count.
In this section details and timetables are presented for six key decision areas:
Target Markets
Product
Promotion
Pricing
Distribution
Other Areas
Preferably this section includes a brief summary of current marketing decisions (see Part 2:
Situational Analysis) so readers of the plan can easily compare what was planned to what is
planned.
Tactical Decisions: Target Market
If the target market remains the same as what was identified in the Situational Analysis then
identifying the market will be relatively easy though justification for continuing with this market
is required. For new markets a more detailed discussion is needed. This section also includes the
sales forecast which is the driving force for all financial forecasts. Depending on the depth of
detail sought in the marketing plan, it may be a good idea to include likelihood scenarios, such as
best case, worst case, and probable case, when developing the sales forecast. (Length: 1-2 pages)
Target market description:
o Brief summary of current target market
o Identify planned changes:
Summarize changes:
Describe using profile (e.g., demographic, psychographic,
behavioral, etc. )
Describe how it will be accomplished
Justify planned changes:
Due to results
Due to research
Due to competition
Others
Describe target market tactics:
Objectives
Methods used change target market
Profile the target marketing
Product positioning:
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o Brief summary of product postition
How does target market view product in relation to competitors products?
o Identify planned changes:
Summarize changes in product positioning
Justify planned changes:
Due to results
Due to research
Due to competition
Others
o Describe tactics to carryout changes
Objectives
e.g. what is desired position?
Methods used to change position
Sales forecast for each product:
o Brief summary of current sales
o Identify changes
Summarize changes in forecast
Justify forecast (i.e., figures determined based on what information?)
o Describe forecast
Objectives
Methods used to carry out
Numerical estimates
Categories:
Total
By segment(s)
By distribution channel
Others
consider likelihood scenario analysis
Tactical Decisions: Product
In this section discuss the decisions to be made for existing or new products and services. Make
sure to consider all aspects of product decisions (branding, labeling, packaging) and not just the
product itself. Also, keep in mind product decisions can also impact distributors (e.g.,
distributors response to packaging used to ship the product). (Length: 1-3 pages)

o Brief summary of current product decisions for users and distributors in terms of:
General description
e.g., category of product, product line information
Features/attributes offered
list key features
main benefits target market receives
Branding
Packaging
Labeling
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o Identify planned changes:
Summarize changes
For new products
How was product developed?
Stage in development process
Timetable for availability
Justify changes:
Due to results
Due to research
Due to competition
Others
o Describe planned changes:
Identify changes directed to the targeted user market:
Objectives:
e.g., modify existing products, extend existing product line,
develop new products, develop new uses/benefits for
existing products, delete current product, etc.
Features/attributes offered
Branding
Packaging
Labeling
Identify changes to the distributor network:
Objectives:
e.g., improve distribution, improve protection, lower cost of
handling, gain distribution, etc.
Features/attributes offered
Branding
Packaging
Labeling
Tactical Decisions: Promotion
Describe the decisions related to how the product will be promoted. In general, promotion
consists of four major areas advertising, sales promotion, public relations and personal selling
though not all may be used. Timetables for promotion are important since certain types of
promotions (e.g., magazine ads, trade shows) require long lead times. Most information in this
section can be shown in tables and graphs. Each of the four promotion areas is separated out,
however, some planners find it easier to combine the areas. For instance, the promotional areas
could be combined within special promotion programs, such as Holiday Promotion Program,
Summer Promotion Program, etc. (Length: 1-4 pages)
Brief summary of current promotional decisions for users and distributors in terms of:
o General description for four promotional areas:
advertising
sales promotion
personal selling
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public relations
o Message/theme
o Methods used:
Summarize methods used
Summarize spending for each method
o Interrelation of four promotional areas
e.g., explain how advertising supports sales promotion
Identify planned changes:
o Summarize changes
o Justify changes:
Due to results
Due to research
Due to competition
Others
Describe planned changes:
o Identify changes directed to the targeted user market:
General description for four promotional areas:
Objectives
Advertising - e.g., build general awareness/inquiries/traffic,
encourage product trial, shift awareness (e.g., change attitude),
response to competitor promotion, increase use or purchase rate,
support other market decisions (e.g., support sales force), general
corporate/product image building, etc.
Sales promotion - e.g., build inquires, increase product trial,
encourage repurchase, build traffic, support other promotions
Personal selling - e.g., new account development, account
support/maintenance, increase product trial, encourage
purchase/repurchase, build traffic, support other promotions
Public relations - e.g., build general awareness/inquiries/traffic,
encourage product trial, shift awareness (e.g., change attitude),
respond to negative news/perception, image building, prepare
markets for future activity (e.g., new product)
Methods and message:
type and media used: e.g., ad type (e.g., television spots, Internet
banner ads, roadside billboards, direct mail, etc.) , sales promotion
type (e.g., coupons, demonstrations, etc.), selling type (e.g., sales
force, call center), pr type (e.g., press release, pitch to magazines,
etc.)
message conveyed
Spending and timetables
total
sub-divided by:
type
e.g., ad spending, sales force compensation
media used
targeted users
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o Identify planned changes directed to the distributor network:
General description
Objectives
Advertising - e.g., build general awareness/inquiries, encourage
product handling, shift awareness (e.g., change attitude), response
to competitor promotion, increase purchase rate, support other
market decisions (e.g., support sales force), general
corporate/product image building, etc.
Sales promotion - e.g., build inquires, encouraging inventory
building, support other promotions, encourage handling of new
products, obtain distributor assistance
Personal Selling - e.g., new account development, account
support/maintenance, encourage purchase/repurchase/inventory
building
Public Relations - e.g., build general awareness/inquiries/traffic,
encourage distribution trial, shift awareness (e.g., change attitude),
respond to negative news/perception, image building, prepare
markets for future activity (e.g., new product)
Methods and message
type and media
message conveyed
Spending and timetables
total
sub-divided by:
type
media used
targeted distributor network
Tactical Decisions: Distribution
This marketing tactics section lays out the distribution plan for the product or service.
Distribution is a broad concept that includes all activities and entities (e.g., value chain partners)
responsible for getting the product or service to the customer. Distribution costs can represent a
high portion of the overall cost of the product so an efficient distribution system may be critical
for marketing success. (Length: 1-3 pages)
Brief summary of current distribution network/value chain decisions:
o Types of channels used
direct - e.g., direct via sales force, Internet, etc.
indirect - e.g., retailers, wholesalers, agents
combination
o Level of market coverage
intensive - e.g., mass availability
selective - e.g., wide availability
exclusive - e.g., restricted availability
o Outlets handling product
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types
number/level of penetration
geographic location
o Perceived product positioning
in relation to competitors
o Distribution costs
Identify planned changes:
o Summarize changes
o Justify changes:
Due to results
Due to research
Due to competition
Others
Describe planned changes:
o Objectives
e.g., account development, gain distributor support, account maintenance,
account penetration
o Types of channels employed
o Level of market coverage
o Outlets handling product
o Product positioning
o Distribution costs
Tactical Decisions: Pricing
Pricing decisions can be a complicated undertaking that requires knowledge of the market,
competitors, economic conditions and, of course, customers. For this section it is not necessary
to provide extensive financial evaluation of the pricing decision since most of this will take place
in Part 5 Budgeting and Implementation, however, the use of tables and graphs may be helpful in
showing pricing trends and pricing decisions within various categories. (Length: 1-2 pages)
Brief summary of current pricing decisions:
o Describe pricing decisions by:
model/product
segment
channel
geography
other
o Adjustments and Allowances
Discounting
Payment terms
Identify planned changes
o Summarize changes
o Justify changes:
Due to results
Due to research
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Due to competition
Other
Describe planned changes:
o Objectives
e.g., return on investment, market share, profit level, price leadership,
match competition, etc.
o Factors affecting price setting
Cost factors
Fixed costs to be covered
Variable costs
Customer expectations
Company expectations
e.g., margins, ROI
Demand Considerations
market elasticity
position on product life cycle
Competition
Economic conditions
Legal/regulatory considerations
o Pricing Options
list, preferred or suggest pricing
adjustments and allowances
sub-divided by:
product/model
customer
channel
other
Tactical Decisions: Additional Considerations
(These may be optional.)
In this section include a discussion of other marketing decision areas. Two additional areas
customer support service and marketing research are provided though it is possible others exist.
(Length: 1 page or less each)
Customer Support Services
o Brief summary of current customer support services decisions:
types offered:
e.g. call center, online, service desk, walk-up, on-site
customers being serviced:
e.g., current customers, potential customers, distributor network
service delivery method:
e.g., internally managed, contracted, partnership arrangement
o Identify planned changes
Summarize changes
Justify changes:
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Due to results
Due to research
Due to competition
Other
o Describe planned changes
Objectives
e.g., availability, response time, satisfaction level
Types offered
Customers being serviced
Service delivery method
Spending and timetables

Market Research
o Brief summary of current market research efforts
Projects
e.g., completed, in process, under consideration
Research responsibility
e.g., internally managed, contracted, partnership arrangement
Identify planned changes
Summarize changes
Justify changes:
Due to results
Due to research
Due to competition
Other
Describe planned changes
Objectives
e.g., customer analysis, market analysis, competitor
analysis, exploratory
Projects
Service responsibility
Spending and timetables
Part 5: Budgeting, Performance and Implementation
In many ways this part of the marketing plan is the area that will ultimately "sell" the plan to
those who have the power to give final approval. This step consists of three key topics:
Marketing Budget - presents a clear picture of the financial implications of the plan
Performance Analysis - presents the expected results of the plan including its financial
impact
Implementation Schedule - shows timelines and identify those responsible for performing
tasks
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Setting the Marketing Budget
This section should lay out spending requirements necessary for meeting the plan's objectives. It
is expected that several tables and graphs will be presented along with narratives explaining
important budget issues. (Length: 2-3 pages)
Outline spending requirements for each tactical marketing decision
o Breakdown each tactical category
e.g., types of advertising, types of services offered, marketing research
expense, etc.
o Show detailed spending timetable by:
Month
Year
o Show spending by:
Product (if plan is for more than one)
Segment/Geographic area
Distribution Network/Channel
Performance Analysis
This section should contain various performance metrics including the financial implications of
the plan in terms of contributions to the companys bottom line. HOWEVER, as was stated in the
beginning of the Marketing Plan tutorial, the marketing plan is generally a component of a larger
business plan. We do not cover a full financial discussion such as a full balance sheet, income
statement, detailed ratio analysis, etc., though these could be included if necessary. Again,
numerous tables and graphs should be presented. (Length: 2-3 pages)
Marketing Contribution
o Show revenue versus expenses for marketing decisions
Revenue should follow sales forecasts (see Part 4)
Show expenses by category (e.g., advertising) and sub-category (e.g.,
types of advertising)
o Breakdown by:
Product
Segment/Geographic area
Distribution Network/Channel
Breakeven Analysis:
o Primarily for plans that involve the sale of tangible products, the breakeven
analysis indicates the level of sales (generally described in terms of number of
units sold) required before the company realizes positive marketing contribution.
o Requires understanding of:
Fixed costs cost that occur no matter level of sales
Variable costs cost that may change as level of sales varies
o Present as both graph and chart
Show breakeven point over level of sales volume
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From zero through best scenario sales level
Show breakeven over time
Ratio Analysis
o Limit to important marketing ratios that are common to the industry
e.g., sales cycle, advertising-to-sales, conversions from trial to purchase,
website traffic-to-search engine marketing, etc.
Implementation
Provide a discussion of how and by whom the plan will be carried out. (Length: 1-2 pages)
Detailed schedule of tasks and those responsible:
o Breakdown by important tactical marketing decisions
Best presented in a Gantt chart format.
o Identify those responsible for each important task:
If unsure leave generic
e.g., advertising agency, web hosting company, distributors, etc.
Part 6: Additional Considerations
The final major section in the Marketing Plan prepares the reader for potential situations that
may affect the plan. In this way the reader is provided with a somewhat more balanced picture of
what the company may face as it attempts to implement the plan. (Length: 2-3 pages)
1. Internal Factors
Discuss company factors that may affect the plan
o e.g., loss of funding sources, loss of key personnel, current plan is linked to
success to other products that may not reach their goals, production problems, etc.
2. External Factors
Discuss outside factors that may affect the plan
o e.g., supply chain problems, competitor reaction, technological developments,
legal environment, societal changes, economic issues, governmental concerns,
etc.
3. Research Limitations
Discuss problems that may exist with the research information on which assumptions are
being made
o e.g., difficult to find solid data on a certain subject

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