Develop a Marketing Plan

 Your marketing plan gives you a guide on which to base decisions and ensures that everyone is working together to achieve the same goals  It can prevent your organization from reacting to problems in a disorganized manner and can help anticipate problems

 Marketing plan objectives should be timely, measurable and attainable  Consider you competitors prices when introducing a new product  Consider your competitor’s market share when forecasting sales  Rely on research information when forecasting sales

 Forecasting sales for your marketing plan are important for use as a standard of measurement  When the level of profitability remains the same, a business may decide that the cost of implementing a marketing plan for a specific product is much greater than the financial benefits

 1. Executive Summary: brief summary of goals and overall recommendations. (write this last)  2. Situation Analysis: overview of current marketing situation (product, pricing, distribution), competition, challenges, trends  3. Desired Target Market: important step  4. Marketing Goals and Objectives: what do you wish to achieve in your business? Objectives should lead to an increase in sales

 5. Marketing Strategies and Programs: outline marketing programs and strategies to reach each of your goals. Include a detailed product description  6. Financial Plans: you budget, expenses and revenue forecast  7. Performance and Implementation: When to determine success, how to evaluate, what needs to be changed.  8. Appendices