I. Summary of a marketing planThe marketing planning (concretized in
marketing plan) is an essential organizational activity, considering
hostile and complex competitive business environment. Our ability and skills to perform profitable sales are affected by hundreds of internal and external factors that interact in a difficult way to evaluate. A marketing manager must understand and build an image upon these variables and their interactions, and must take rational decisions.
Let us see what do we call a "marketing plan"? It is
result of
planning activity, a document that includes a review of
organization's place in
market, an analysis of
STEP factors as well as a SWOT analysis. A complete plan would also formulate some presumptions on why we think
past marketing strategy was successful or not. The next phase shall present
objectives we set, together with
strategies to achieve these objectives. In a logical sequence, we will further need to evaluate
results and formulate alternative plans of action. A plan would consist in details of responsibilities, costs, sales prognosis and budgeting issues.
In
end, we should not forget to specify how
plan (or plans) will be controlled, by what means we will measure its results.
We will see how to build
marketing plan, what is its structure: after we will see how to build
traditional marketing plan, we will take a look at
e-marketing plan and see how
unique features of
internet will require some changes in
approach of writing a marketing plan.
But, before we continue, we must understand and accept that steps of
marketing plan are universal. It is a logical approach of
planning activity, no matter where we apply it. The differences you meet from a plan to another consist in
degree of formality accorded to each phase, depending on
size and nature of
organization involved. For example, a small and not diversified company would adopt less formal procedures, because
managers in these cases have more experience and functional knowledge than
subordinates, and they are able to achieve direct control upon most factors. On
other hand, in a company with diversified activity, it is less likely that top managers have functional information in a higher degree than
subordinate managers. Therefore,
planning process must be formulated to ensure a strict discipline for everyone involved in
decisional chain.
II. The general marketing plan
The classical marketing plan would follow
following scheme of 8 stages:
1. Declaring
mission: this is
planning stage when we establish
organizational orientations and intentions, thus providing a sense of direction. In most cases, this is a general presentation of
company's intentions and almost has a philosophic character.
2. Establishing current objectives: it is essential for
organization to try to determine with preciseness
objectives to be reached. These objectives, in order to be viable, must be SMART. SMART is an acronym and stands for "Specific", "Measurable", "Attainable", "Realistic" and "Timed". The objectives must also convey
general organizational mission.
3. Gathering information: this stage is based on
concept of marketing audit. After performing
audit of
macro-environment by analyzing
STEP factors (social, technologic, economic and politic), we should turn
focus upon
immediate extern environment (the micro-environment) and analyze
competitive environment,
costs and
market. Finally, we will conclude with
SWOT analysis, by this way we will have a general view upon
internal environment compared to
external one. The SWOT analysis combine
two perspectives, from
inside and from
outside, because
Strengths and
Weaknesses are internal issues of an organization, while
Opportunities and Threads come from
outside.
4. Re-formulating objectives: after
close examination of data gathered in
previous stage, sometimes it is needed to re-formulate
initial objectives, in order to address all
issues that might have come up from
previous stage. The distance between
initial objective and
re-formulated objective will be covered by appropriate strategies. We must ensure
re-formulated objective is SMART as well.
5. Establishing strategies: several strategies are to be formulated, in order to cover
distance between what we want to achieve and what is possible to achieve, with
resources at our disposal. As we would usually have several options, we should analyze them and chose
one with more chances to achieve
marketing objectives.
6. Plan of actions: consists in a very detailed description of
procedures and means to implement
actions we want to take. For example, if
strategy implies a raise in advertising volume,
plan of actions should establish where
advertisements will be placed,
dates and frequency of
advertising campaigns, a set of procedures to evaluate their effectiveness. The actions we plan to take must be clearly formulated, measurable, and
results must be monitored and evaluated.