MARKETING PLAN Your Name Executive Summary Summarize the

MARKETING PLAN Your Name

Executive Summary Summarize the opportunity � One or two sentence statement of opportunity Provide an overview of the plan that you will implement Document the total 5 year business improvement in � Sales � Market � Profit share

Situation Analysis The Market: Past, present, and future � Market past � Major size and growth rate – and expected future growth rates customer or market needs � Macro-trends impacting the market � Current company or segment market share and market position(e. g. leader, follower, challenger) � Major competitors

Situation Analysis The Competition Who are the key competitors What are their significant competitive products Where does there seem to be an opportunity to compete?

Situation Analysis: SWOT Strengths Weaknesses Opportunities Threats

Marketing Strategy Objectives Mission Statement Marketing objectives (e. g. market share) One year financial objective (e. g. revenues, profits, growth rate) Marketing Strategy – HOW will the business achieve these goals?

Segment – Target – Position Segmentation Choices for this Market � Why is the relevant choice Target Segment(s) � Why is the most attractive segment � Estimated segment size Positioning of product or service � Statement that distinctly defines the product in its market and against its competition over time • Consumer promise or value proposition – Statement summarizing the benefit of the product or service to the consumer

Product (Service) Strategy Describe the product or service being marketed. Topics should include, for instance � New product, or product line extension � Product attributes � Product benefits � Product packaging � Product warranties, etc

Price Strategy Which of the common pricing strategies will be followed � Why What is the initial offering price � Why What is the plan for future price changes

Distribution Strategies Distribution strategy Channels of distribution � Summarize channels of distribution Distribution by channel Show plan of what percent share of distribution will be contributed by each channel – a pie chart might be helpful

Communication Strategy What are the communication strategies for generating awareness, trial, and adoption? � How are these strategies best suited for the target market?

Financials Forecasting method used (Ch 3) � Why chosen Projected Income Statement Base Year Qtr 1 Sales Revenue COGS Gross Profit SG&A New marketing expenses New R&D expense Operating Income Qtr 2 Qtr 3 Qtr 4 Full Year

Implementation Controls First year goals Additional year goals Measures of success/failure (ie. what metrics will be tracked? ) Requirements for success � For instance, what support needed from other departments

Contingency Plan Contingency plans if plan if metrics are not meeting goals?