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Elements of a Good Marketing Plan
By Renea Myers, president of Renea Myers Marketing

I am often asked to help take the mystery out of developing a marketing plan. I believe a marketing plan should be a relatively brief, straightforward and easy to follow guide for your business to follow over a specific period of time.

Here is a template for a generic marketing plan to help your business get moving in 2009.

I. Executive Summary

-Brief summary of goals and overall recommendations (write this last)

II. Business Description (itís a good idea to refresh the team on the basics of the business)

-One sentence description of services/products provided
-30-second commercial
-Points of Difference/Benefits
-Your Unique Positioning Statement
-SWOT analysis outcomes

III. Environmental Scan

-Overview of current market situation (product, pricing, distribution), competition, challenges, trends
-Services required by customers
-Changes in customer demands
-What marketing activities are the most successful currently, whatís not working
-Overview of past yearís performance, ROI, profit margin etc.

IV. Target Market

-Profile of primary and secondary target markets
-Consider geography, industry, size, accessibility, decision-makers, service gaps, underserved markets
-Segment your market by common characteristics
-Whatís most important to customers?
-Does your market niche need to be more specific? Broader?

V. Goals

-What do you wish to achieve in your business? Example: Increase sales in a division by a certain percentage
-Be specific about when and what

VI. Marketing Strategies

-Outline marketing programs and strategies to reach each of your goals

VII. Tactics

-Outline the tasks required to implement and monitor each strategy

VIII. Budget (expenses and revenue forecast)
 
IX. Evaluation (when to determine success, how to evaluate, what needs to be changed, etc)

If you donít already have a marketing plan, this is the year to make it a priority. With our current economy, donít lose sight of the importance of marketing. It is a proven fact that companies that continue to focus on marketing during down times come out ahead of the competition when things get better.

---Source: Renea Myers is the owner of Renea Myers Marketing, a Greensboro firm offering businesses a complete outsourced marketing department specializing in strategic marketing. For more information, visit www.rmyersmarketing.com. If you have additional questions, contact Renea at (336) 856-0081 or renea@rmyersmarketing.com


 

 

 

 

 

 

 

 

 

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