Know what the marketing plan and what their coverage, scope, purpose, and content …
The marketing plan is a valuable tool that provides guidance to all those who are linked to the marketing activities of a company or organization that describes important aspects like marketing objectives to be achieved, on how they are going to reach, resources to be used, the timing of marketing activities to be implemented and the control and monitoring methods to be used to make adjustments as necessary.
Therefore, it is highly desirable that all those involved in the marketing area know what the marketing plan and what their coverage, scope, purpose and content, so that way, they are better able to understand the usefulness and the value of this important marketing tool.
Defining Marketing Plan :
- According to the American Marketing Asociation (AMA), the marketing plan is a document consisting of an analysis of the current marketing situation, the analysis of opportunities and threats, marketing objectives, marketing strategy, and action programs projected revenues (the state projected profit and loss). This plan may be the only statement of the strategic direction of a business but is more likely to apply only to a brand or a specific product. In the latter situation, the marketing plan is a mechanism for implementation that is integrated within an overall plan Strategic business.
- According to McCarthy and Perrault, the marketing plan (marketing), is written in a marketing strategy and details of the time required to implement formulation. Shall contain a detailed description of the following:
- 1) what combination will offer marketing, who (ie, the target market) and for how long;
- 2) company resources (as reflected in the form of costs) will be needed, and the time interval (month by month, perhaps); and
- 3) what are the results (monthly or semi-annual sales and profits, for example) are expected. The marketing plan should also include some control measures, so that they do know if something is wrong.
In short, the marketing plan is an instrument of communication embodied in a written document that clearly describes the following:
- 1) the current marketing situation,
- 2) the results which are expected in a certain period of time,
- 3) how is he going to accomplish by strategy and marketing programs,
- 4) the resources of the company to be used and
- 5) monitoring and control measures that will be used.
Coverage Marketing Plan :
A marketing plan is a tool that can serve the entire company or organization, however, it is more common to develop one for each division or business unit. Moreover, there are -situations- where more specialist is essential -plans, for example, when there are key brands, very important target markets or special seasons (as with fashionable clothing or seasonal).
Scope of Marketing Plan :
Usually, the marketing plan has an annual range. However, there may be exceptions, for example, when there are seasonal products (which may need specific plans for 3 or 6 months) or when special situations (such as the entry of new competitors or when declining sales resulting occur presented social or macroeconomic problems) that require a new plan that is better adapted to the situation that is occurring.
Purposes of Marketing Plan :
The marketing plan meets at least three very important purposes:
- It is a written–guide pointing the marketing strategies and tactics to be implemented to achieve specific goals in defined time periods.
- It serves as a control–Mechanism. That is, it establishes performance standards against which you can evaluate the progress of each division or product.
The Content Marketing Plan :
There is no single formula or format for which there is universal agreement to develop marketing plan. This is because in practice, each company or organization, developed the method, scheme or the way seems best fit their needs.
However, it is also true that it is very appropriate to have an idea about the basic content should have a marketing plan. Therefore, various authors present their options and ideas in this regard; which are synthesized in the following points:
- Executive Summary: This section provides an overview of the proposed plan for an administrative review is presented. It is a section of a page or two which describes and explains the course of the plan. It is intended for executives who want an overview of the plan but do not need to learn the details.
- Situation Analysis Marketing: This section of the plan the most relevant information on the following points include:
- Market Situation : This data is presented and illustrated on its size and growth (in units and / or securities). Information on customer needs, perceptions and buying behavior also included.
- Product Status : In this part, sales, pricing, contribution margins and net profits for previous years is.
- Competitive situation : Here the main competitors are identified and described in terms of the size, goals, market share, product quality and marketing strategies .
- Status of Distribution : In this part information about the size and importance of each distribution channel is presented.
- Macro environment situation : Here the general trends of the macro environment (demographic, economic, technological, and cultural políticolegales), related to the future of the product line or product  described.
- A SWOT-analysis : This section provides a complete analysis that identifies
- presents the main Opportunities facing the business and
- the main STRENGTHS and Debilidades that the company and the products and / or services. Then it defined the main ALTERNATIVES be targeted to the plan.
- Objectives : At this point are established in two areas:
- Financial goals : For example, to obtain a fixed annual rate of return on investment, produce a given net income, produce a certain cash flow, etc …
- Marketing Objectives : This is the point where financial goals become marketing purposes. For example, if the company wants to get at least 10% of net income to sales, then you should set a target amount in both units and values that will get that margin. On the other hand, if you expect a market share of 5% in units, must balance the goals that allow units to reach that percentage.
Other marketing objectives are: Get a certain volume of sales in units and values, achieve a certain percentage of growth over the previous year, to reach a certain average selling price that is acceptable to the target market, achieve or increase consumer awareness about the brand, expand in a certain percentage distribution centers.
It should be noted that annual objectives set in the marketing plan , should contribute to the goals of the organization and strategic marketing goals are achieved.
- Marketing Strategies : This section provides a broad outline of the marketing strategy or “game plan” becomes. To do this, you can specify the following:
- The target market that will satisfy you.
- THE positioning that will be used.
- The product or product line with which will satisfy the needs and / or desires of the target market.
- The services to be provided to customers to achieve a higher level of satisfaction.
- The price to be paid for the product and the psychological implications they may have in the target market (for example, a high-priced product can stimulate the medium-high and high socioeconomic segment to buy it by the sense of exclusivity) .
- The distribution channels to be used for the product to reach the target market.
- The promotion mix to be used to inform the target market the existence of product (eg, advertising, personal selling, sales promotion, public relations, direct marketing).
- Marketing Tactics : Also called action programs, specific activities or action plans are designed to operate main strategies in the previous section. This section answers the following questions:
- What will be done?
- When will?
- Who will do it?
- How much will it cost?
- Financial Programs : This section, which is also known as “draft statement of profit and loss”, two kinds of information are recorded:
- 1) The item of income showing forecasts of unit sales volume and average selling price.
- 2) A number of expenses that shows the costs of production, physical distribution, and marketing, broken down by category.
- The “difference” (income – expenses) is projected utility.
- Schedule : This section, which is also known as calendar, often includes a diagram to answer the question -when various marketing activities plan cicadas- be made. To this end, it may include a table for weeks or months in which clearly indicates when each activity should be performed.
- Monitoring and Control : This section, which is also known as assessment procedures, responding to the questions: what, who, how and when, with regard to performance measurement in light of the goals, objectives and activities planned the marketing plan .
This last section describes the controls to monitor progress.
The marketing plan is a valuable written document that clearly indicates the persons involved in marketing activities, marketing situation, the objectives to be achieved, how it will achieve them (strategies and tactics), the profit and loss statement for all marketing operations and monitoring and control procedures.
The scope of a marketing plan is usually a year; however, there are also plans for specific periods (3-6 months) as with seasonal clothing.
The coverage of the marketing plan can cover the entire company or organization, a division of products or a single product, brand or target market.
Finally, the contents of a marketing plan includes at least the following items (which are usually tailored to the needs of each company or organization):
- Executive summary
- Analysis of the situation of marketing
- A SWOT-analysis
- Financial programs or draft statement of profit and loss
- Monitoring and control