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.

Review

A marketing plan's executive summary should include a brief summary of the market, the product to be offered, the strategy behind the plan, and the budget, as well as any other important information.
In this section of the plan, the planner describes the offering and a brief rationale for why the company should invest in it.
The market section of the plan should describe a firm's customers, competitors, any other organizations with which it will collaborate, and the climate of the market.
The strategy section details the tactics the organization will use to develop, market, and sell the offering.
When readers complete the strategy section, they should conclude that the proposed strategy is the best one available.
The budget section of the marketing plan covers all the resources, such as new personnel, new equipment, new locations, and so forth, needed to successfully launch the product, as well as details about the product's costs and sales forecasts.