Key Sections of a Marketing Plan

Key Sections of a Marketing Plan

 Key Sections of a Marketing Plan

marketing plan sections - by Diane Watkins 


A marketing plan is very important to the success of your business. It is a detailed account of how you plan to market your business over the next year and what results you will expect from those efforts. For best results, refer to the plan regularly, at least once a month, and track your success as you go


Executive Summary

The introduction or executive summary is a brief overview of the marketing plan. It allows readers to understand the entire plan quickly before diving into the details. The executive summary is very important because potential investors and company employees may not read the entire plan.
Situational Analysis

The situational analysis details the current situation of the company. It includes information about what is happening within the business such as current business performance and where it stands in the market. It should also discuss what is going on outside the company that affects the business. Upcoming changes on the local, state or national level that will affect the business should be discussed as well as trends or new technologies that will change the way business is done.
Target Market

This section analyzes the target market to understand the cultural and economic forces at work. It is important to know your target customer thoroughly, including the market size and demographics, buyer motivation, expectations and marketing trends.
SWOT Analysis

The SWOT analysis assesses the company’s strengths, weaknesses, opportunities, and threats. It is a simple way of assessing the company’s current situation and resources. Take competing businesses into consideration and discuss the opportunities available to make your business better than the competition.
Marketing Goals and Objectives

Set your marketing goals, listing the improvements and accomplishments that you would like to achieve. Set individual objectives that are steps to achieving these goals. Make the objectives specific and achievable. For example, if your marketing goal is to increase sales by 20 percent this year, set objectives that would help you reach the goal such as participating in industry trade shows or adding a shopping cart to the company’s website. Be specific about how you plan to achieve your goals.
Marketing Strategy and Action Plan

The marketing strategy section includes information about how the business and its products will be promoted and advertised. Give details about the product to be sold. Include its features and benefits, your unique selling points and customer services that are available. Discuss your pricing strategy and how you will distribute and promote the product. Include details about the sales promotions that will be used, who will do the selling, how you will create publicity and a marketing buzz. Include information on geographical areas to target and how the strategy will be implemented.
Marketing Budget

The marketing budget and financial forecast list the expected costs of implementing the marketing plan and predicts the outcome of the marketing efforts. Including a break-even analysis is helpful in understanding the implications of the marketing strategy


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