The marketing plan is a vital tool for business management. It will frame all the decisions that the company takes to try to be more competitive in front of other companies. Thanks to the marketing plan we have the possibility to mark different business objectives and describe the path that we must go to get them.
- 1 Steps to create a marketing plan
- 2 What is a marketing plan?
- 3 Importance of the marketing plan
- 3.1 Why is the marketing plan important?
- 3.2 What is a marketing plan for?
- 3.3 The utility of a marketing plan
Steps to create a marketing plan
With the marketing plan is conducted an investigation that allows us to know everything around us and gives us all the necessary information to make the right decisions. Thanks to this tool, you can do a planning of the actions that should be taken by the company to achieve the goals that are proposed.
Marketing plans are fundamental when it comes to creating a company or taking out a new product. To market a product without having made a marketing plan is a risky task with a high probability of failure.
The marketing plan is within the business plan, although we can say that when we already have an advanced business, we can make a specific marketing plan without creating a complete business plan.
In any case, the marketing plan cannot be considered as an isolated tool, but must be carried out in collusion with all the management aspects that affect the business and the overall strategic plan of the company, so that a coordinated strategy is created. Of all the activity of the company.
What is a marketing plan?
In any business there must be a part of the resources dedicated to marketing or marketing. It is an important part of any business that is dedicated to analyzing the needs or desires of consumers and their circumstances, in order to find out how best to adapt the product or service offered, value it and bring it closer to consumers. With these resources is made the marketing plan that defines a large part of the overall strategy of the company.
The above, summarized in 4 lines seems simple, but behind it is a whole set of internal and external study, analysis and definition of objectives and strategies, which to be effective require careful planning.
At this point is where the marketing plan of a business fits. And since it is related to the other areas of the company, and the importance that it entails in relation to the achievement of the objectives of any project, is considered a strategic part of the conception of any company and, therefore, should be collected Within the business plan, which describes all the activity and planning of the actions of a company.
Importance of the marketing plan
Many entrepreneurs are not yet aware of the importance of a marketing plan and the need to implement advertising strategies in their business.
The marketing plan has a very clear purpose for the company, to reach its target audience, increase and build loyalty to its customer base and, of course, improve the profitability in each of the commercial actions.
Erroneously it has always been considered that the success or failure of a product is determined by its quality or qualities; Or even, that a product is “sold alone “. However, there are other factors that influence this process and will favor the acceptance of the company in the market.
Therefore, the elements of the marketing plan create a coordinated strategy on the pillars that support the viability of the company, to obtain a greater effectiveness in all the actions and decisions taken by the management.
Why is the marketing plan important?
To understand the importance and the need to make a marketing plan you have to start from the idea that any business needs to attract and retain customers, to be able to stay.
Based on this idea, it is clear that without marketing and advertising action, if the customer does not know your brand, do not understand what your company, etc. You can never achieve the rate of sales that otherwise would be accessible to you.
What is a marketing plan for?
The marketing plan is part of a company’s business plan, so it is contingent on its strategic plan. This document defines the commercial objectives, in a structured way, to achieve in a certain period of time, detailing the strategies and actions that are going to be implemented to achieve these objectives.
In order to develop a marketing plan, there must be a preliminary phase of study and analysis where all the factors that can be taken in a moment affect your business model are collected.
The utility of a marketing plan
What is sought with the marketing plan is to improve the orientation of the company to the market, creating and providing value for the customer. This document allows the company to detect new business opportunities to get the most out of them.
In the same way, what is achieved with the marketing plan is to establish and fulfil as efficiently as possible the objectives of the company optimizing the available resources while reducing the risks.
What does it help to make a marketing plan?
A marketing plan helps to better understand the environment in which a company develops its activity and what is its target audience, to know their needs and to be able to satisfy them. Having a more thorough knowledge of the environment in which the company moves, minimizing the risk of frustration and depletion of resources.
It is very helpful for managers and anyone who is responsible for managing a company or organization.
More specifically, a marketing plan contributes to:
This document, by containing the objectives of the commercial strategy and the strategy and actions to achieve them, becomes a real guide for all the areas of the company.
As the marketing plan clearly and easily collects the mission and vision of the company can contribute to the generation and maintenance of the motivational attitude of the members of the organization, making them feel more involved and motivated and Contribute to the accomplishment of goals and objectives.
If the road is clear because the objectives are accurate and well assumed by all the members of the company, the workers have the most uninhibited, creative and open mind.
Achieve greater strategic cohesion
Once the entire workforce is oriented towards a common goal, they know where and how to get there, there is greater coherence and cohesion in all areas of management, leading to greater integration.
To achieve the success of a marketing plan, there are a number of elements of the marketing plan that we have to keep in mind:
Analysis of the internal and external situation
Knowing where the company or project is located is essential to make decisions in an efficient way. It is advisable to perform a SWOT analysis.
Approach and establishment of objectives
Knowing where we are going, the goals that you want to achieve is also vital. The objectives must be specific, achievable, viable, flexible, relevant, motivating and consistent with the company’s mission and values.
Design of the marketing mix strategy
In this phase, the strategy of achievement is drawn up through an action plan in which the 4Ps are balanced: product, price, distribution and promotion.
Implementation of the Strategy
This point assesses the adequacy of the strategy by reviewing its viability and allocating tasks and resources.
Control of the results
In this last phase, it is verified that the expected results are being achieved and corrective measures are applied if necessary.
If you are creating a company or want to launch a new product to the market, it will be essential that you create a marketing plan and know the parts that have to have the presentation of the marketing plan to make fundamental decisions in order to create a strategy Coordinated to ensure the economic viability. Here you can find the different steps you need to follow to develop a marketing plan.
Objectives of the marketing plan
The marketing plan is essential to reflect all the decisions that affect the overall strategy of the company. In this article we analyze the objectives of the company and the purpose of the marketing plan for a new company, which wants to incorporate in its action plans strategies aimed at increasing the sales index and improving its commercial performance.
Therefore, if you are thinking of betting on marketing as a useful tool for the development of your company, before deciding to spend certain sums of money without control or sense, it is important that you understand the importance of the marketing plan in the company .
Although many may come to believe that advertising is not effective, the truth is that its impact will depend heavily on the company’s ability to organize and detail its marketing goals.
What are the objectives of a marketing plan?
Does the same marketing plan apply to any type of company? Of course not. Before you create a business, or start making your first marketing plan, you should know that any advertising strategy should be directed specifically to the business sector, to meet the needs of a specific niche market.
In fact, marketing objectives must match the overall business objectives, so that the message is consistent with the company’s own brand and direction.
It would not be useful to use an advertising strategy completely different from the business archetype, because the client would be deceived or disappointed by the company, once he knew the real product.
Have you heard about SMART targets? Well, any business objective (as in the case of marketing) must comply with a number of minimum qualities, which are:
So that it can be clearly defined when it comes to establishing the marketing plan.
To be able to set goals or measurable scales that serve as a reference when estimating the success or failure of a campaign.
Workable If the target cannot be carried to reality it makes no sense to take it into account.
The marketing plan will only work with realistic objectives that are achievable by the company.
Limited in time
The theme of time dimensioning is very important to develop goals that are limited to a specific period, and in this way the other objectives can be fulfilled.
Definition of marketing Plan
The concept of marketing plan is therefore the planning and organization of all the processes and activities that a company needs to carry out in order to achieve its strategic objectives in terms of sales and market positioning.
It is an important tool for any company that will allow you to:
Know the market better
Get more details about the needs of consumers.
Make strategic decisions about your product or service: Adapting features, distribution channels and sales, pricing plans.
And maintain a relationship with customers after their purchase or service engagement.
Elaborating the marketing plan of a company will allow to combine all the resources and efforts in terms of communication and image, to transmit a unique and coherent message about business and its products or services, thus generating a greater impact on the market.
Marketing Plan for the creation of a new company
The marketing plan for a business that is being created is if it is more important than for a company that is already in operation. When it is done before creating a company, the simple fact of following the phases and the step by step for the elaboration of your marketing plan, will help you to think and reconsider some of the premises that you had about your business idea.
Almost without noticing you will see yourself adjusting the characteristics of your product or service to align them with the desires or needs of the consumers, as well as the channels of marketing and distribution of products, the promotions and other many factors in Function of the conclusions that you extract from the study and analysis to carry out the marketing plan.
Also, by having to mark you commercial and sales objectives you will be advancing part of the economic-financial plan, which will be an important proof that your business can be profitable and therefore viable.
Once the activity is started you will probably have to change some objectives or adapt some of the actions that you had defined in the initial marketing plan, either by changes in the evolution of the market and the media or to optimize some of the Defined actions.
In any case, the process of elaboration of the marketing plan will have been very positive for the start up of your business. And it will certainly help you to optimize your resources and efforts in the presentation of your services in the market.
The marketing plan of a business project is not only the basis for a good interaction of your business with the market, but is the starting point for making a proper decision making in terms of various strategic aspects of your product or service.
Marketing Plan Template
The marketing plan should be the roadmap that serves as a guide to mark the path that the company should travel. It should include all the strategic decisions that affect the company’s future. It should be a document that shows a coordinated strategy of all the actions that will be carried out by the organization.
Before creating a company, it is imperative to make a marketing plan where you translate all the strategic decisions that the company will take as soon as it is put into operation. It is also necessary to make a marketing plan when launching a new product, or when you want to make a major change in the company.
Previous market studies, SWOT analyses, target audiences, strategies. All these points must form a plan of action that will assure you the success as a company.
Marketing Plan Example
Here you can make a template of a real marketing plan in which you can base for the realization of your own. If you do not know how to make a marketing plan, you have the possibility to follow the steps to make the presentation of the marketing plan that shows the example and adapt them to your own company.
Here you can find the different elements of a marketing plan that are essential to include. That yes, you should be the one to make the decision of what is the strategy to follow in your business to Excel above the competition.