Marketing Plan Framework A marketing plan may be part of an overall business plan.

Solid marketing strate gy is the foundation of a well-written marketing plan. While a marketing plan co ntains a list of actions, a marketing plan without a sound strategic foundation is of little use. The marketing planning process Marketing process can be realized by the marketing mix in step 4. The last step in the process is the marketing controlling. In most organizations, "strategic p lanning" is an annual process, typically covering just the year ahead. Occasiona lly, a few organizations may look at a practical plan which stretches three or m ore years ahead. To be most effective, the plan has to be formalized, usually in written form, as a formal "marketing plan." The essence of the process is that it moves from the general to the specific, from the vision to the mission to the goals to the cor porate objectives of the organization, then down to the individual action plans for each part of the marketing program. It is also an interactive process, so th at the draft output of each stage is checked to see what impact it has on the ea rlier stages, and is amended. Content of the marketing plan A marketing plan for a small business typically includes Small Business Administ ration Description of competitors, including the level of demand for the product or service and the strengths and weaknesses of competitors 1) Description of the product or service, including special features 2) Marketing budget, including the advertising and promotional plan 3) Description of the business location, including advantages and disadvant ages for marketing 4) Pricing strategy 5) Market Segmentation Medium-sized and large organizations The main contents of a marketing plan are: 1) Executive Summary 2) Situational Analysis 3) Opportunities / Issue Analysis - SWOT Analysis 4) Objectives 5) Strategy 6) Action Program (the operational marketing plan itself for the period und er review) 7) Financial Forecast 8) Controls Use of marketing plans A formal, written marketing plan is essential; in that it provides an unambiguou s reference point for activities throughout the planning period. However, perhap s the most important benefit of these plans is the planning process itself. This typically offers a unique opportunity, a forum, for information-rich and produc tively focused discussions between the various managers involved. The plan, toge ther with the associated discussions, then provides an agreed context for their subsequent management activities, even for those not described in the plan itsel f. Additionally, marketing plans are included in business plans, offering data s howing investors how the company will grow and most importantly, how they will g et a return on investment.