Marketing Plan Basics
Marketing plans can be written in any format that is acceptable to the guidelines of the strategic planning process of the organization. A multinational company must assess its marketing strategy among several countries and regional markets. Small and medium-sized businesses will write their marketing plans according to their intended target markets and respective environments. This text provides guidance on how to format a marketing plan.
The Business Challenge
In the "business challenge" section of the plan, the planner describes the offering and provides a brief rationale for why the company should invest in it. In other words, why is the offering needed? How does it fit in with what the company is already doing and further its overall business goals? In addition, the company's mission statement should be referenced. How does the offering and marketing plan further the company's mission?
Figure 13.3: Convincing stakeholders
Your marketing plan has to convince busy executives and other stakeholders that your idea is worth investing in.
Remember that a marketing plan is intended to be a persuasive document. You are trying not only to influence executives to invest in your idea but also to convince other people in your organization to buy into the plan. You are also trying to tell a compelling story that will make people outside your organization - for example, the director of the advertising agency you work with, or a potential supplier or channel partner - invest money, time, and effort into making your plan a success. Therefore, as you write the plan you should constantly be answering the question, "Why should I invest in this plan?" Put your answers in the business challenge section of the plan.