Marketing Plan Template (Comprehensive)

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									This document provides a template marketing plan for a fictitious company. This
Marketing Plan Template can assist any company or marketing officer in identifying a
target market, developing a strong message, and creating promotional strategies to
obtain new clients. This template is drafted for a retail business and contains both
standard clauses and opportunities for the use of optional terms and conditions making
it fully customizable to fit the needs of the company. This document should be used by
a startup company as part of a business plan or by a marketing or product manager in
an established company.
Marketing Plan for [company
name]
Fiscal Year [20XX]




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Contents
1.         Executive Summary ............................................................................................................ 5
     Introduction .................................................................................................................................................. 5
     Purpose .......................................................................................................................................................... 5
     Market Summary .......................................................................................................................................... 5
     Market Opportunity ...................................................................................................................................... 5
     High-level timeline & Key Deliverables ....................................................................................................... 5
2.         Situation Analysis ............................................................................................................... 5
     Market Summary .......................................................................................................................................... 6
           Target Markets ...................................................................................................................................... 6
           Market Demographics .......................................................................................................................... 6
           Market Needs ......................................................................................................................................... 6
           Market Trends ....................................................................................................................................... 6
           Market Growth ...................................................................................................................................... 7
     SWOT Analysis.............................................................................................................................................. 7
           Strengths ................................................................................................................................................8
           Weaknesses ............................................................................................................................................8
           Opportunities .........................................................................................................................................8
           Threats ...................................................................................................................................................8
     Competition...................................................................................................................................................8
           Competitors by Sales Volume ...............................................................................................................8
           Competitors by Demographic Share ................................................................................................... 9
     Product/Service Offering(s) ......................................................................................................................... 9
     Pricing ......................................................................................................................................................... 10
     Distribution/Delivery ................................................................................................................................. 10
     Success Factors ........................................................................................................................................... 10
     Critical Issues .............................................................................................................................................. 10
3.         Marketing Strategy ............................................................................................................ 11
     Mission .........................................................................................................................................................11
     Marketing Objectives ...................................................................................................................................11
           Demand Creation .................................................................................................................................11
           Sales Revenue .......................................................................................................................................11
           Repeat Business ....................................................................................................................................11


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           Brand Awareness .................................................................................................................................11
     Financial Objectives .....................................................................................................................................11
           Sales Revenue .......................................................................................................................................11
           Expense Containment/Reduction .......................................................................................................11
           ROI .........................................................................................................................................................11
     Positioning & Messages ...............................................................................................................................11
           Unique Selling Proposition ..................................................................................................................11
           Key Differentiators .............................................................................................................................. 12
           Target Messages .................................................................................................................................. 12
     Strategy Pyramids & the Marketing Mix ................................................................................................... 12
4.         Financials, Budgets, and Forecasts.................................................................................... 13
     Break-Even Analysis ................................................................................................................................... 13
     Sales Forecast .............................................................................................................................................. 13
     Expense Forecast ........................................................................................................................................ 14
           Marketing Expense Budget ................................................................................................................. 14
5.         Controls.............................................................................................................................. 15
     Metrics ......................................................................................................................................................... 15
     Contingency Planning................................................................................................................................. 15
6.         Detailed Execution Plan (Implementation)....................................................................... 16
     Creative Strategy ......................................................................................................................................... 16
     Tactical Timeline......................................................................................................................................... 16
7.         Appendices .........................................................................................................................18
     Marketing Organization ............................................................................................................................. 18
     Primary Research Results .......................................................................................................................... 19
     Sample Surveys .......................................................................................................................................... 20
     Secondary Research Compilations ............................................................................................................ 21




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[This marketing plan template contains both instructions for completion and examples. Delete
the gray shaded material, and replace the examples with your own content. Note, data
contained in charts is for illustration purposes only and does not reflect any actuals.]

1.     Executive Summary
Introduction
[The introduction provides key information on the company, historic highlights, and other
information that sets the context for the how and why of the marketing strategy to follow.]
As _______ moves into its _______ year of operations, we have the opportunity to capitalize
on market conditions and new trends in apparel distribution to gain significant market share in
our core demographics.

Purpose
[Provide a brief and concise description of what the Marketing Plan contains.]
The ___ 20___ Marketing Plan lays out the strategy and tactics for achieving our revenue and
market share goals. It summarizes marketing research and analysis, to identify opportunities
and challenges, as well as providing a detailed tactical plan for how we intend to achieve our
2010 goals, the estimated budget, and a timeline of deliverables.

Market Summary
[This section provides a high level summary of the key points detailed in the Situation Analysis
section.]



Market Opportunity
[Provide an overview of the key decisions, issues and findings, based on research and analysis,
which form the basis of the Marketing Plan.]



High-level timeline & Key Deliverables
[Briefly address management/stakeholder involvement in approval of the plan, listing key
meetings and the decisions to be finalized, as well as major milestones in implementing the
tactical/implementation plan. If key decisions such as messages, budget numbers, etc have
already been finalized, this is a good place to reiterate them.]



2.     Situation Analysis
[Use this section to bring together results from primary and secondary research to identify your
target market(s), a SWOT analysis of your current environment data on key competitors]

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Market Summary
Target Markets
[Identifying the target markets is critical to all other decisions outlined in the marketing plan.
Primary research through surveys, interviews, and focus groups provides the key insights
needed to identify the target markets, their attributes, purchase rationales, influences, etc.
These target markets also serve as the basis of building personas, or customer profiles in
developing creative strategies, key messages, and programs. Giving names to the targets is not
required, but often helps focus brand and theme issues.
Note that in business-to-business marketing, you may also need to identify vertical markets,
which are particular business segments to which you will market your products/services, such as
financial services, health care, manufacturing, telecommunications, etc.]
Young Go-Getters—Women 20–30
Focused on starting careers and families, the Go-Getters are looking for experiences that build
towards career goals, and are starting to experience work-life balance issues. They are products
of the internet age, are frequent job changers, and tend to have active lifestyles that incorporate
physical activities and social gatherings. They are looking for high-style and versatility in
wardrobe pieces, and are willing to pay more if the piece is new or unique, rather than for long-
lasting value.
Balancers—Women 30–40
Achievers—Women 40+

Market Demographics
[Describe the specific characteristics of target markets such as disposable income, percentage of
income spent on your product/service category, average store visits annually, percentage of
online spending, media/new media habits, brand loyalty]



Market Needs
[This section answers the questions as to what the target markets are seeking in
products/services, characteristics, price points, etc., that are either not being provided by your
competition or are not adequate]



Market Trends
[Describe trends in the target markets that will impact sales of your product or service, such as
expanding or contracting levels of disposable income, changes in household size, adoption of
new technology or pop culture events, etc.]




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Market Growth
[Describe the forecasted growth in the target markets, including the key factors impacting
growth]



SWOT Analysis
[SWOT Analysis is a common and very useful technique for clarifying the internal and external
factors that will impact market strategy prior to determining a course of action. The chart below
lists examples, and depending upon the product, service, or branding goal, these examples may
be listed in more than one quadrant]


   Strengths                                       Weaknesses

      Store managers experience                      Succession planning
      USP                                            Space costs in northeast
      Established channel                             corridor
       relationships                                  Recession/unemployment rates
      Broad Price points                             Lack of 40+ casual lines
      Advantageous leases                            Just in time inventory
      Spokesperson contracts                         Online abandonment rate
      Casual work culture
      Well received 20+ transitional
       lines




   Opportunities                                   Threats

      Appeal to growing kitschy/non-                 Cash flow crunch
       conformist demographic                         POS implementation
      In-house social media expertise                Knock-off growth
      Acquisition of existing chain                  In-store turnover
      Parallel growth in online and                  Competitive online presence
       bricks and mortar presence                      upgrades




[The next four subsections provide narratives that detail the points in the SWAT graph]




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Strengths

Weaknesses

Opportunities

Threats

Competition
[Use this section to delineate competitors by channel as well as demographics, and identify
potential competitors based on trends and SWOT analysis]
While any retailer selling women’s career, transitional and casual lines can legitimately be
considered competition, we focus on department stores, national chains, and larger regional
chains that cater to the target markets of young women 20–30, career women 30– 40, and
mature career women 40+. In the context of our moderate growth strategy, competition varies
somewhat by region.

Competitors by Sales Volume
Secondary research conducted on the top brick and mortar retail competitors indicates that as a
recent entry into the Northeastern US market, _______ faces stiff competition from high end
department stores, as well designer outlets. We are positioned well against boutiques due to a
broader product line for transitionals.




________ fares better with its two Southeastern US locations (Atlanta, and Charlotte). We
expect new store openings in the Southeast during 20__ to exploit the rapid brand awareness.


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Online retailers such as ______, _____, and _____ are substantially stronger among the 35–
40 demographic who are more comfortable with personal style choices and less likely to
experiment with new brands. The online market is highly fragmented and presence in this
market depends on a user experience that aligns with brand strategy while focusing on
conversion through ease of purchase, interactivity for up-sell and cross-sell opportunities, and
security of transactions.

Competitors by Demographic Share
[Tie together information about the target markets and the competitive landscape, to answer
questions about how your company and your competitors are likely to fare in each target]
According to research reports from NRMA, our top competitors sales volume in our target
markets shapes up as follows:




Product/Service Offering(s)
[Provide descriptions of the product service offerings, grouped and categorized in ways that
align with your target market goals]
   “_________:” Separates, skirts, blouses, dresses, sweaters, and accessories sourced from
    artisan/designers using natural materials, at the top price points.
   “_________:” Casual separates from Tier 2 label mid price points and maximum markup
    for easier discounting.



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Pricing
[Describe the pricing strategy, and consider providing the rationale for choosing one strategy
over another. Traditional strategies include cost-plus, target return, value-based, and various
psychological pricing strategies]



Distribution/Delivery
[Outline the channels your company uses to deliver the product/service to your customers and
cost, time, and other factors that impact each channel]
   Retail locations: _____ (__) percent of 20__ sales will take place via ___ (__) existing
    locations, with ____ (__) additional locations planned.
   Outlet locations: ______ is investigating potential outlet locations but has not determined
    viability.
   Catalog sales: catalog, while still viable, is a diminishing channel for _____. Most catalog
    buyers are rapidly moving to shopping over the internet, and we anticipate completely
    merging catalog sales within the online shopping experience by 20__.
   Online shopping: ___ percent (__%) of 20__ sales will take place via our website
    www._______.com, and several aggregator sites such as _________.com. The online
    referrals from fashion portals and online news magazines, social marketing via Twitter and
    Facebook communities are detailed in the implementation plan.

Success Factors
[Explain any key factors that must be addressed in order to achieve marketing objectives, such
as IT implementations, completion of new sourcing agreements, rebranding efforts, recruitment
of qualified personnel, etc.]

Critical Issues
[Identify any constraints or issues that could adversely or positively impact successful
implementation of marketing programs. These could include a wide array of possibilities, such
as pending tax increases or new regulations, legal actions, organizational changes, timely
operational or infrastructure changes, etc.]




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3.     Marketing Strategy
[The heart of the marketing plan, the section on strategy outlines the goals, programs and
methods to achieve the goals]

Mission
________’s mission is to generate reasonable ROI by providing high fashion clothing and
accessories for women seeking quality, value and style for work and casual times.

Marketing Objectives
[Objectives typically fall into one or more of the following areas]

Demand Creation
[Define objectives for indirect demand creation, or “awareness” and/or direct demand creation,
or “leads” that are ready to be converted to sales. Demand creation should result in tactical
approaches such as PR and consumer “buzz”]

Sales Revenue
[Outline sales revenue objectives in the ways that are most relevant and measurable for your
company: objectives by product line, target market, and geographic location]
Objective 1: generate year-over-year revenue increase of ___ percent (__%) per location.
Objective 2: increase per-transaction revenue by ____ percent (__%_ per quarter.



Repeat Business

Brand Awareness

Financial Objectives
Sales Revenue

Expense Containment/Reduction

ROI

Positioning & Messages
Unique Selling Proposition
[The Unique Selling Proposition or USP, is the “thing” that sets your company apart from your
competition and provides a benefit to the customer. It serves as the foundation for the messages
to your target audiences.]



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Key Differentiators
[Key differentiators support the USP and messaging]
   Everything’s returnable
   Style consultants on staff
   Blogging from the New York shows


Target Messages

Strategy Pyramids & the Marketing Mix
Identify strategy, tactics (media, message, channels), and programs for each product/target
market. These can be detailed in text and illustrated with a pyramid like the example below]




                                       Strategy

                                Emphasize High Fashion




                                       Tactics

                          Message: Style. Matters
                          Channels: fashion mags, websites


                                      Programs
                      Viral Fashion Show     Magic Mirror ads
                      Tweet follows          Style Tips POP
                      Facebook Fan Group




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4.     Financials, Budgets, and Forecasts
[The marketing plan needs to address the key questions of “how much will it cost?,” “how much
will we sell?,” and “what will it take to break even?” Spreadsheet calculations, based on your
overall business plan can be included here, or you can modify the sample charts]
This financial overview of _______ addresses address break-even analysis, sales forecasts,
expense forecasts, and how those link to the market strategy and specific marketing activities.

Break-Even Analysis
The following break-even analysis provides estimated monthly fixed costs that take into account
brick and mortar and online retail channels.

Monthly Revenue Break-Even                  $


Assumptions:

Average Percent Variable Cost               %

Estimated Monthly Fixed Cost                $




Sales Forecast
We break out the monthly sales forecast for 20___ by demographic group, for all locations and
channels.




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The following chart outlines annual sales and cost of sales for the three-year period beginning in
20__.
                                            20__                 20__                  20__
Sales
        Young Go-Getters            $                    $                     $
        Balancers                   $                    $                     $
        Achievers                   $                    $                     $
Total Sales                         $                    $                     $
Direct Cost of Sales
        Young Go-Getters            $                    $                     $
        Balancers                   $                    $                     $
        Achievers                   $                    $                     $
Subtotal Direct Cost of Sales       $                    $                     $



Expense Forecast
The marketing expenses will be higher relative to other months when planned store openings
are ramping up. The expenses will also spike toward the end of the year during the winter
holiday season.



Marketing Expense Budget
                                            20__                 20__                  20__
Advertisements                      $                    $                     $
POP and collateral                  $                    $                     $
Website management                  $                    $                     $
Email campaigns                     $                    $                     $
Other                               $                    $                     $
                                    ------------         ------------          ------------
Total Sales and Marketing           $                    $                     $
Expenses
Percent of Sales                    %                    %                     %




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5.      Controls
Metrics
[Define the relevant metrics to be used to measure marketing activities, some examples are
listed below]
    Conversion rates—Visit-to-registration rate; Registration-to-trial rate; Trial-to-transaction
     rate

    Average transaction size

    Transactions per customer

    Months per subscriber

    Abandon rate

    Returns rate

Contingency Planning
    Identified Risks and Risk Mitigation

    Worst-Case Scenarios




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6.     Detailed Execution Plan (Implementation)
Creative Strategy
[The following components of the creative strategy are usually completed as decision-making
activities with separate documents or reports. They determine the creative content for the detail
marketing program tactics
                   Creative Brief

                   Customer Personas

                   User Experience Goals]

Tactical Timeline
[Consider using project management tools such as MS Project to develop a timeline that
addresses resources, as well as milestones and tasks]
Program/Task                         Owner                  Approver              Deadline
Web portal/storefront                Web design Agency      Marketing VP
       Design Objectives             Account team
       Key messages
       Navigation                    Web Architect
       Wireframe                     Web Architect
       Prototypes                    Development Team
       Content development
       Testing
       Launch
       Analytics
       Adjustments
Seasonal POP                         Marketing Services
       After Holiday
       Inventory Reduction
       Spring Preview
       Tax Freedom
       Easter
       Mother’s Day
Viral Events…..


Sales Training


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Program/Task                    Owner   Approver   Deadline
PPC web campaigns
Print ad campaigns
Semi-annual Fashion Show
Quarterly Marketing Review




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7.    Appendices
Marketing Organization




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Primary Research Results




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Sample Surveys




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Secondary Research Compilations




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