A marketing plan is typically designed to establish a framework for management to use as they pursue the marketing and sales objectives. It should be built on the results of your market research and the specific value proposition of your product or service. In general, a marketing plan is a shorter form of a business plan that has a limited scope and marketing emphasis.

Similar to any other business document, it is not only important for the marketing plan to have the right content, but it must also be presented in a way that is informative and maintains the reader's interest.

Every marketing plan has to fit the needs and situation. Even so, there are standard components you just can't do without. A marketing plan should always have a situation analysis, marketing strategy, sales forecast, and expense budget.

• Situation Analysis: Normally this will include a market analysis, a SWOT analysis (strengths, weaknesses, opportunities, and threats), and a competitive analysis. The market analysis will include market forecast, segmentation, customer information, and market needs analysis.

• Marketing Strategy: This should include at least a mission statement, objectives, and focused strategy including market segment focus and product positioning.

• Sales Forecast: This would include enough detail to track sales month by month and follow up on plan-vs.-actual analysis. Normally a plan will also include specific sales by product, by region or market segment, by channels, by manager responsibilities, and other elements. The forecast alone is a bare minimum.

• Expense Budget: This ought to include enough detail to track expenses month by month and follow up on plan-vs.-actual analysis. Normally a plan will also include specific sales tactics, programs, management responsibilities, promotion, and other elements. The expense budget is a bare minimum.

Are They Enough?

These minimum requirements above are not the ideal, just the minimum. In most cases you'll begin a marketing plan with an Executive Summary, and you'll also follow those essentials just described with a review of organizational impact, risks and contingencies, and pending issues.

Include a Specific Action Plan

You should also remember that planning is about the results, not the plan itself. A marketing plan must be measured by the results it produces. The implementation of your plan is much more important than its brilliant ideas or massive market research. You can influence implementation by building a plan full of specific, measurable and concrete plans that can be tracked and followed up. Plan-vs.-actual analysis is critical to the eventual results, and you should build it into your plan.

Test Marketing Your New Products

How do you test market a new product or service? How do you find out if people are actually going to buy it? First, make or get a prototype. Create or get a sample. If it's being manufactured somewhere else, get a sample of it. If you're going to manufacture it yourself, create a prototype so that you can show it, demonstrate it, photograph it. So that you can let people see it, touch it, feel it, and get an opinion from it... More