This marketing plan outline will help small business owners put together a strategy to launch a new product or service or will help those who are starting a small business or working their business.
Marketing Plan Outline:
1. Executive Summary:
The executive summary is really a spotlight page of the contents of the marketing plan outline. Typically it needs to reference the key points of your strategy and answer the who, what, why, when, where, and how questions. This summary is always done at the end – after the other parts of the strategy are completed.
2. Company Review:
* Background information on the company (date incorporated, operation purpose, history, number of workers, primary product/service.
* Include the company’s vision statement, which is a view of the company’s long-term and future route, and the company’s value policy. Both will keep your strategy focused and aligned on your business.
* Industry examination
* Competitive Analysis; including an outlook of competitive advantage
* Suppliers to your business
There are two types of markets: mass markets (you’re marketing to the world – much like an online operation) or target markets (you’re selling to a specific targeted section of the market) – also referred to as target marketing or marketing segmentation.
As a small business owner, typically you will want to direct your market and you will therefore need to do market segmentation.
* Market segmentation is about segmenting the target market so that you can better target them with your offer. This could be done at a fairly basic or at a very detailed level.
5. Identify Your Target market with your marketing plan outline:
* Select your main, secondary, and perhaps even your tertiary markets based on your marketplace segmentation.
6. Build Your marketplace Strategy:
Your marketplace strategy needs to contain a main goal or mission statement (that connects to the Company’s mission statement). It also needs to contain your marketing objectives and how you plan to accomplish them (the action plan next steps).
* Why does what you sell benefit your (potential) customer?
* Describe your market’s needs and wants.
* Describe how your operation will meet them.
* Define your product’s place from the perspective of your target customer and relative to your competitors.
* Define the general techniques you will use (keeping in mind your target market’s need and wants and your operation product or service benefits.
* Define marketing mix:
* Product or Service: Features, advantages, benefits, specifications, improvements, problems/challenges.
7. Measure Your outcomes:
Your marketing plan outline must contain a strategy to measure operation performance and specific selling outcomes.
* How many sales did you get through your affiliate or referral programs?
* How many sales through the web; through walk-in?
* Did buyers inundate your phone lines after they read about you in the local paper?
Keep track of your marketing strategies, programs and tactics and measure results against these activities. Focus on those activities that give you the best results and spend less time, energy and money on those activities that don’t increase sales.
8. Marketing Plan Outline – Additional Elements To Include:
Your marketing plan outline needs to also include the orders plan, the operation operations system and business financial strategy.