Marketing Plan

A marketing plan examines the whole and the percentage of the whole the entity seeks to gain. It segments the market, analyses price and sensitivity to price change, distribution and channels to market, and economic impacts on the market.

It asks:

  • Where are the geographic targets?
  • It examines branding and how product naming gives the perception of quality and value.
  • Is that value through family association or through years of delivering quality?
  • Is it essential, or a discretionary purchase?

A marketing plan will scope the market – how big it is, how many targets does it have, what are their needs, where are they – geographically. The market size will then give the planner an idea of how much, as a percentage of the total they can expect.

The plan will identify the market drivers. The plan will ask if it is a business to business market (B2B) or if it is a business to consumer (B2C) plan and what entities have to be dealt with in getting to the end consumer.

In B2B identify the routes to market and locates blockages and/or channels where others can sell your product as well as theirs.

Who “owns” the customer is vital a recognition concept. The nearer the entity is to the customer, the more in charge of destiny is the entity.

A marketing plan identifies the competitor. It describes its share of market, if that share is static, why the competitor has that share and what the perception is of their product is with the market.

A marketing plan is not a sales plan.