Marketing plan

Marketing plan

In today’s article I want you to learn what a marketing plan is, as well as how you perro develop a good marketing plan.

What is the marketing plan?

The marketing plan perro be seen as a document in which all the necessary actions are established to meet the objectives related to the product, place, price and promotion. At the same time, the fulfillment of the objectives of the marketing area have to achieve a good fit with all the functional areas of the company so that the objectives of the company are fulfilled.

Characteristics of the marketing plan

Next I am going to put the main characteristics that a good marketing plan must have.

Fácil

It has to be written in a clear and understandable way for all interested parties.

Realistic

The objectives equipo have to be coherent with the capacity of the company.

measurable

There must be parameters that allow evaluating the performance and fulfillment of the objectives.

Time limit

A program must be established that specifies the times in which the activities will be carried out.

Specific

Within the document you have to clearly establish the responsibilities, the specific actions, the dates and the stakeholders.

Role of the marketing plan

  1. The marketing plan serves as a guide, since it tells us the way in which we have to act to achieve certain objectives. Likewise, it indicates the time in which we must carry out these activities.
  2. It works as a preventive system, because we have to establish the responsibilities, those responsible and the time. That way, if something doesn’t go according to plan, you cánido take corrective action.
  3. Having a marketing plan allows us to have a competitive advantage because it must reflect ways in which resources perro be used efficiently, as well as turning weaknesses into strengths, or threats into opportunities.

Areas in the development of the marketing plan

The analysis of the situation of a company (internally and externally), plays an essential role in business management because it provides us with possible opportunities, weaknesses, threats or opportunities that we have to take into account.

The purpose of an analysis of the internal and external spheres is to help make better and more efficient decisions within an organization.

For example, decisions cánido be made regarding the change of the marketing manager, the improvement of certain processes or activities, the improvement of the technology used, the improvement of training, etcétera.

Thus, something that we have to keep in mind is that managers, or even any person belonging to the organization, is hired to turn threats into opportunities, and weaknesses into strengths. We have to start thinking disruptively.

internal scope

Internally are the factors that affect the organization, and that are controllable by it. For example, in the case of marketing, the price, the product, the promotion, the place where we are going to sell, etcétera.

external scope

In the case of the external sphere, as opposed to the internal sphere, they are factors outside the organization. Therefore, the company has no control over these factors, or at least not completely.

You may think that if we don’t have control of these factors, then why bother knowing about them. The truth is that although they are not completely controllable, we perro analyze each aspecto that may affect us and minimize the risk. Therefore, what it is about is to formulate strategies that allow us to turn those threats into opportunities and manage to obtain an advantage from that. That is why large companies generally carry out an enterprise risk management analysis and use the COSO.

Some factors that cánido affect a company are: politics, the demographic aspecto, the social y cultural aspecto, the technological aspecto, the economic aspecto, the environment, etcétera.

According to Lerma (2013: 34), it establishes that once we have finished analyzing all the factors (internal and external) that affect our organization, then it is time to integrate it and thus be able to start formulating strategies and making better decisions. A widely used tool (also well known) is the SWOT analysis, although Lerma also mentions the competitiveness analysis.

SWOT analysis

  • Strengths ——–Internal aspecto
  • Opportunities —-External aspecto
  • Weaknesses ——-Internal aspecto
  • Threats ——–External aspecto

Briefly I will explain what the SWOT is. It is a tool that allows us to evaluate the current state of an organization (or at some point), based on the integration of internal factors (Strengths and weaknesses) and external factors (opportunities and threats). Its objective is to formulate strategies that allow you to turn threats into opportunities and turn weaknesses into strengths (thus improving competitive advantages).

Competitiveness analysis

In short, what you do is create a matrix in which you will compare your products and your marketing systems in relation to your competition. Thus finding opportunities for improvement, considering that you will always be able to have advantages and disadvantages with respect to your competition. This is where you perro create new competitive advantages.

How is the marketing plan developed?

The sequence of activities that you have to develop to develop a marketing plan, according to Lerma are: Investigate (for example, carry out the investigation of the internal and external factors that affect the organization), analyze and diagnose (for example, carry out carry out the integrating analyzes that allow you to analyze and diagnose the situation of the company) and finally, the formulation of the necessary strategies to achieve the objectives (based on the diagnosis).

Lerma also suggests the way in which we should distribute the time: Investigation (30%), Analyze and diagnose (20%), formulate the strategies and write the document (50%).

Steps to formulate the marketing plan

Once you have formulated the necessary strategies that allow you to achieve the objectives and goals, it is time to formulate the marketing plan. Now I will detalla the steps you have to follow.

Definition of objectives and goals

You have to establish all the objectives and goals related to the marketing mix, that is, to the product, price, place and promotion.

Definition of strategies

What you have to do is formulate general strategies for the marketing area. For example, increase market share, cover a new segment, begin to diversify, achieve greater positioning, etcétera.

Identification and selection of markets

Based on the research and the SWOT analysis, we will seek to satisfy the unmet needs of consumers (of one segment or more).

Definition of strategies and tactics of the marketing mix.

In this case, you are going to formulate more specific strategies, that is, you are going to establish what will be done in relation to the marketing mix. You choose the product mix, you establish the pricing strategy, you choose the distribution strategy, and finally, the promotion strategies (to publicize the product).

Definition of required tasks

As its name indicates, in this step you are going to establish all the tasks and activities that are necessary for you to achieve the objectives. It should be noted that you also have to take into account the resources that you will need and the time that is needed to carry out the activities.

Scheduling of tasks and activities

Since you have the estimated time that each task needs to be able to carry it out, what follows is to put everything together. Therefore, you perro create a Gantt chart that allows you to get the total time it takes to achieve the objectives, as well as the time for each activity (as well as the sequence) to achieve the objectives.

Budget

Well, now you are going to formulate a budget that allows you to estimate the economic resources that you are going to need to carry out the project in its entirety.

Assignment of responsibilities

Once again, as its name indicates, what has to be done is to specify in the document the tasks (responsibilities) that each member of the plan has to carry out. It is very important that it is carried out because this way you will be able to avoid many problems.

Annexes

They are documents that provide greater detail in the information presented in the plan.

How the marketing plan should be presented

  • cover art
  • index
  • Introduction
  • Executive Summary
  • Goals
  • Analysis of the current situation (SWOT)
  • Strategies (Product, price, place and promotion).
  • Action program (scheduling)
  • Budget
  • Cash flow
  • Annexes

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