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A marketing plan outlines a business’s strategy for achieving defined goals and attracting potential customers. It includes six sections, starting with a summary and ending with a tracking section. The plan should detail marketing objectives, the company’s situation and target market, and the marketing strategy itself. The tracking section shows how the company will track all targets.
A marketing plan is a tool used by a business to show investors how the business intends to present itself to potential customers to achieve defined goals. New businesses and businesses that are changing their marketing strategy are among those most likely to write a marketing plan. A marketing plan has six specific sections, starting with a summary. The marketing objectives section includes the overall objectives of the strategy, while the situation analysis and target market sections detail the company’s current situation and key audience. The strategies section talks about the marketing strategy itself and the tracking section at the end shows how the company intends to track all targets.
When someone decides to write a marketing plan, the first section should be the introduction. This has an executive summary and synopsis of everything that will be discussed in the marketing plan. Although this section is presented first, it is best to write it last so that you can go over all the points in the plan and ensure that nothing is left out of the summary.
The second section to include if writing a marketing plan is the marketing objectives sections. Here, the writer discusses definable objectives of the new marketing plan. For example, rather than simply saying that the idea is to increase sales, the plan might state that the goal is to increase sales by 20%. This section also discusses exactly how the marketing plan intends to do this.
In the situation analysis, the writer details the company’s strengths and weaknesses in relation to the marketing plan. In order to write an effective marketing plan, this section requires the company to evaluate all internal and external factors that can help or hurt the company. The writer also details how the company will play to its strengths and how to avoid or minimize its weaknesses.
In the target market section, the writer should detail the demographics and target audience that the marketing plan is looking to attract. To make this area effective, the business will need to research its customers, how much money they make, the age of those customers, and other factors. Psychographics, or client attitudes and behaviors, are considered in this area.
The strategy section is where the writer must show exactly how the marketing will take place. To write a marketing plan that effectively showcases the strategy, the writer must first talk about what kind of advertising the company will be doing and how it wants to reach the customer. Marketing methods such as magazine and radio marketing will also be highlighted.
In the final section, tracking, the writer should show how the company will track all definable objectives and marketing effectiveness. For example, if you are using direct mail marketing, the writer will record the company’s contact information in which the response letters will be told. This lets investors know how the company will track targets and helps the company define the best way to track its marketing.
Asset Smart.
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