The Planning Marketing Plan Format Is One That Is Utilized B

The Planthe Marketing Plan Format Is One That Is Utilized By Major Cor

The marketing plan format is one that is utilized by major corporations all over the country. However, writing a comprehensive marketing plan is a difficult and challenging task, yet, the ability to write such a plan is critical to the development of a marketing manager and an organization. Directions: Identify a company you would like to use for this assignment. This should be an organization that you are familiar with, or have access to their information. You will complete a comprehensive marketing plan, which will include an analysis of their current market situation.

Is the industry growing? What is the market share for the organization that they represent? Who is the dominant player in the marketplace? Remember, you will need to justify your approach using market research and data. The second step in the process is the actual writing of the plan.

Think about the following: What are the goals and objectives for the organization? What is the timing of the plan? What resources will be required to achieve the plan? What are the financial goals? In your marketing plan, be sure to include the following sections:

Paper For Above instruction

I. Executive Summary and Table of Contents

In the executive summary, make sure you address all the main goals and objectives of your plan. These goals and objectives need to be clear, measurable, and reasonable. The summary should encapsulate the core strategies and anticipated outcomes, providing a concise overview for stakeholders.

II. Situational Analysis

A situational analysis presents a snapshot of the market in its current state by describing the company's products/services, target segments, distribution networks, and position in the segment, along with competing offerings and relative positioning. It includes current and future assessments of the business conditions and challenges.

Within your situational analysis, analyze all the following points:

  • Market summary
  • SWOT analysis
  • Competitor analysis
  • Product offering
  • Keys to success
  • Critical issues
  • Pricing

III. Marketing Strategy

The marketing strategy describes the planned direction and goals of the marketing activities, incorporating facts and assumptions about the market size, growth, and financial objectives. Think about the following questions: Where do you see your business going in the next 3-5 years? What is unique about your product portfolio? How will you tell the consumer about your products and unique value proposition?

How will you stay connected to your target market’s needs and wants? How will you price your product? Within your market analysis, be sure to address the following:

  • Mission
  • Marketing objectives
  • Product positioning
  • Marketing mix (4 Ps)
  • Marketing research

IV. Financials

The financials of the marketing plan describe a set of five-year revenue, cost, and profit projections for the marketing plan, including any initial startup costs, sales by channel and segment, and profit margins. Think about the following questions: How much do you plan to sell? What are your factory cost targets? What is your profit target by percent and dollar amount? Remember to include the following in your financials:

  • Sales Forecast
  • Profit targets

V. Controls

The controls of the marketing plan describe the budget tactical activities for implementing the plan, as well as performance benchmarks for activities such as pricing, product configuration, promotion, and distribution. They are in place to measure forecast and profit attainment. Forecasts should be reviewed monthly and quarterly. Develop a 12-month calendar targeting specific dates for product launches and promotions. Include the following:

  • Milestones
  • Implementations and timelines

VI. Summary

The summary of the marketing plan should encapsulate the size and scope of the opportunity, reiterate the segmentation, targeting, and positioning (STP), as well as the marketing mix (product, price, place, promotion). It should confirm that the plan is actionable, how the organization will succeed, and why pursuing this plan is worth it. This section should be concise, no longer than one page, and support your ideas with detailed analysis. Use proper grammar, spelling, and APA style throughout. Write an 8–12-page report in Word format.

References

  • Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
  • Armstrong, G., & Cunningham, M. H. (2018). Principles of Marketing (17th ed.). Pearson.
  • Porter, M. E. (1985). Competitive advantage: Creating and sustaining superior performance. Free Press.
  • Grunig, J. E., & Hunt, T. (1984). Managing Public Relations. Holt, Rinehart & Winston.
  • Jain, R. (2011). Marketing Planning & Strategy. Oxford University Press.
  • McCarthy, E. J. (1960). Basic Marketing. Richard D. Irwin.
  • Peters, T., & Waterman, R. H. (1982). In Search of Excellence. Harper & Row.
  • Day, G. S. (1994). The Capabilities of Market-Driven Organizations. Journal of Marketing, 58(4), 37-52.
  • Hollensen, S. (2015). Marketing Management: A Relationship Approach. Pearson.
  • Ries, A., & Trout, J. (2001). Positioning: The Battle for Your Mind. McGraw-Hill.

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