Marketing
plans are detailed strategies of how to go about
successfully marketing a product or products and
earning a projected amount of return from the
effort. A comprehensive marketing plan will
consider such important elements as distribution
costs, production costs, advertising expenses and
any expense related to identifying and marketing
the products to the consumers in the targeted
markets. The marketing plan may focus on
strategies related to the upcoming twelve-month
period, the next calendar year, or include a span
of three to five years into the future.
While this is not always the
case, companies tend to develop a marketing plan
by calling upon the services of a marketing
specialist. Marketing specialists may be
associated with the public relations firm hired by
the company to build a viable advertising
campaign, or be an employee of the company. In
both scenarios, the specialist will work with
others within the corporate structure to develop a
plan that efficiently attracts advertisers and
consumers alike, while earning the greatest degree
of return possible within the time frame of the
marketing plan.
A truly solid
marketing plan goes beyond defining broad goals.
Often, the plan is highly detailed by moving past
broad objectives to identify specific goals that
are met all through the life of the marketing
plan. Along with setting these specific goals, an
escalation list or a list of action items is also
spelled out for each goal. This helps the marketer
to not only know what the goal happens to be, but
also how to go about achieving the goal.
The development of a
proper marketing plan
involves information
collected from several
different sources.
Opinions of
advertisers on the
product line are very
important. Corporate
executives provide
information involving
the manufacturing
process and costs
associated with
creating the products.
Marketing executives
identify consumers who
are most likely to buy
the product, define
the characteristics
that apply to this
consumer base, and how
the product line will
meet their current
needs and wants.
While there are
templates available
for marketing plans,
it is usually
difficult to simply
fill in the blanks of
a form and come up
with a workable plan.
However, these
guidelines and
templates can help lay
the foundation for a
plan that is
specifically geared to
the products that will
be marketed and to the
consumers who will
purchase the products.
The creation of a
viable marketing plan
is not a task
that is accomplished
overnight, even for a
small business.
Generally, at least
three to six months is
needed to work out the
details that will lead
to the formation of a
marketing plan that
has a good chance for
success.
