Marketing Plan Template Step 5 & 6

Step 5

5.1    Marketing Strategy

Once you’ve created and agreed your ‘goals’ then you need to create the strategy to achieve them.  Two key factors are identified 1) who do you want to be targeting to achieve your goals? Effectively, identifying your ‘target market segment’?   Cover off the following points when identifying this segment:

  • New or existing clients?
  • How they buy?
  • Where do they come from?
  • What influences them?
  • How do they use your services?

And 2) your ‘differential advantage’ ie:  what have you got that will attract your ‘target market segment’ away from competitors and to buy your products and services.  Think about these areas:

  • What will motivate the market towards you rather than your competitors?
  • What have you got that will meet the needs of your selected segment?
  • What are the advantages you can offer over your competitors?
  • What are your competitors up to and how do you compete?
It’s important that you get your Marketing Strategy clear and succinct because your Marketing Strategy is the key driver of implementation.


Step 6

6.1 The Marketing Mix

These are effectively the resources that you identify and utilise for implementation of your plan.  In other words, the tactics you apply to implement your marketing strategy.  Once you’ve set your strategy you need to develop an understanding of how you are going to achieve it – what are your methods?

Traditionally you may have heard of the ‘4 p’s of Marketing’ – however, particularly in service driven organisations, two more decisions need to be considered; process and people.

Let’s take a look at each element of the ‘marketing mix’ and address the areas that you need to be thinking about when creating yours.  Not all categories will be relevant to you – however, these are the factors commonly considered:

Product

Product variety                       Product presentation              Product packaging

Product features                     Sizes                                        Product design

Brand name                             Guarantee

Pricing

List price                                 Geographical pricing              Fixed pricing

Discounts                                Allowances                             Payment terms

Allowances                             Credit terms                           Value pricing


Promotion

Sales team                               Client promotion                    Advertising

Public relations                       Trade promotion                    Direct marketing

Publicity                                  Third party deals

Place (Distribution)

Location                                  Accessibility                            Intermediaries

Process (Service)

Pre-sales                                  Post-sales                                Point of sale

Performance Standards           KPI* monitoring

*Key performance indicators – measures you put in place to monitor performance

People

Training                                   Incentives                                Culture

6.2       Mixing the Mix

The categories above need to be considered when putting together your ‘plan of attack’ to the market.  In simple terms, consider each point and whether or not it is relevant to your marketing plan.

The tools (ie: the marketing mix) you use to execute your plan are dependent upon your overall marketing goals.

It may be that there are no ‘People’ implications within your plan.  And therefore, you would not have to document it.

However, if one of your goals was to move into France and gain 20 French clients by the end of the year – then you would document under ‘People’, whether you would consider either employing French speaking people whilst in the UK, or train your own team.

for more information on The Marketing Mix see my blog post Getting to Grips with the Marketing Mix

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