Marketing plan

Science which includes a set of techniques and strategies that are used to study how they behave the markets and commercial management of companies known for marketing . Currently, companies need marketing to improve their companies and businesses and this can be achieved through a marketing plan because this tool helps them define the steps to follow correctly while establishing clear objectives.

Definition

Plan marketing is a type of document in text format in which all collected studies of marketing that makes a particular company, the goals we have with respect to the marketing , different strategies needed to implement and planning for that these objectives can be achieved. It is a type of guide that helps guide the company when it must make decisions through good research that helps to know the economic viability , the short and long term objectives and thetiming of the actions that need to be carried out.

Source

The word marketing was used for the first time in 1902 by a professor at the University of Michigan , ED Jones during one of his speeches on the subject. As a reference of its origin, we speak of the 50s when mass production and the passivity of the consumer stood out mainly .

Characteristics of a marketing plan

Among its main characteristics we find the following:

• It has a good organization .
• All the aspects that are of relevance must be contained within the plan.
• It gives the company a strategy so that it can fulfill its mission .
• It is based on the facts and assumptions that are valid .
• It foresees the use of available resources .
• It has a description of how the organization will implement the plan.
• It has continuity , it is very simple and also brief .
• Specifies a performance criterion that can be monitored and controlled.

Types

The types of marketing plans that exist today are detailed below:

• Marketing plan for a specific product category and brand : For each specific product, a separate marketing plan is drawn up. The team should draw up a rain of ideas on the objectives of sales and predict the success of each.
• Marketing plan for a new product and geographic marketing plans : the focus is on defining the overall concept of the product, it has to be carefully designed, restructured by the team and then tested in the market . One of the key parts of this plan is the actual introduction of the product to consumers.
• Marketing plans by market segments and customer plans : when the product is sold to various market segments , which are specific groups that are more likely to buy the product, the marketing team establishes a different plan for each group depending on of its different characteristics and needs .

What is a marketing plan for?

The marketing plan is a type of document that serves as a guide to understand the efforts of marketing that makes a particular company and the goals it wants to achieve. Through it, it is possible to maximize the resources available to the brand, it is possible to link different types of teams , quantify the resources to be able to develop and enforce the marketing plan and analyze the positioning of the company.

In addition, through this type of plan it is possible to correctly understand the future of the company as well as the risks and challenges that may arise for a certain business, while measuring and controlling the results based on the objectives that have been proposed.

How to make a marketing plan

In order to develop a marketing plan correctly, the following structure can be followed:

• Analytical Marketing : here an objective vision is provided about the situation that the company has in relation to competitors and the economic and social situation . It includes the characteristics of the business, the political situation, the characteristics of the place and the competition.

Commercial studies are also carried out on purchasing processes, analysis of distribution channels, SWOT, studies on prices, on the product and on marketing.

• Strategic marketing : this phase is carried out depending on the type of business and includes the marketing strategy, the segmentation of the plans depending on the target audience that has been chosen, the positioning.
• Operational marketing : the third step has to be focused on what is known as 4P of marketing in other words, the product policy, the price policy, the distribution and sales policy, and commercial organization .
• Action plan : this is the most operational stage of the entire plan and helps the different strategies to achieve the goals that have been set. Actions are taken on products, prices, sales, product distribution and transport channels.
• Monitoring : This step is also very important because it is useless to have a marketing plan if it is not reviewed on a regular basis whether the measures that have been established are functioning properly.

Importance

Plans and marketing strategies are very important because they make sales more easy for any entrepreneur. Through them you can have access to customers smarter, reducing costs of marketing and increasing the chances of converting prospects into sales . The marketing plan is basically the missing link between the strategic direction of the company and obtaining results . It is the element that unites everything and guarantees that the appropriate activity is carried out, at the right time, to the right audience and through the right channels.

Examples

Some examples of marketing plans are mentioned below.

• Make the brand of a certain product known to a target audience.
• Increase market shares based on existing brands.
• Launch of new products.
• Improve return on investment or ROI.
• To be able to introduce a certain company into new markets, either nationally or internationally.
• Increase the benefits that a company provides.
• Optimize conversion funnels.