The PlanKNOW WHERE YOU ARE HEADED mission statement

identifies the nature of the business and the reason it existsAll tactics and strategies should be built around the mission statement.

mass marketa broad group of customers

product portfolioall the products a company has available at any one time

test marketingwhere the sales potential for a new product is tried in a small market prior to its final release

The marketing plan is a detailed document that further provides a detailed description of how the tactics and strategies will be implemented.

The PlanComponents of a Marketing Plan A marketing plan should be guided by the current and future needs of customers.

Executive Summarya summary of the basics of the plan. The most important part of plan. Thepart that will get people to read more of the plan

The Mission StatementThe marketing plan must be in agreement with the mission statement.

Marketing InformationInformation is gathered, analyzed, interpreted and used to make business decisions.

The Tacticdescribes product or service differentiationshould pinpoint a gap that is not be filled by another product or service

Strategydescribes the marketing mix

The Plan Product/Service

the identified need is the basis for the development of the product or service

The Distribution Systemdescribes how the product or service will be made available to customers

PricingThe price must be set where revenues will be maximized to cover all costs and provide a profit.

Promotional Strategieshow the product will be positioned in the minds of customers

advertising publicity sales promotion

personal selling

The PlanFinancing

disclosure of all expected costs and revenuesmight indicate need for additional funding

Risk Managementoutlines possible risks and strategies for minimizing the risks

Implementation Timeline

start with completion date and plan backwardsspecify event sequencing

Assignments of Responsibilityspecify who is responsible for each component of the plan

Selling

defines how direct sales will be handled

Review and Evaluation define mileposts for progress checks of the plan