VUSSC/Content/Entrepreneurship/Marketing the Business/Characteristics of a Market Plan
Characteristics of a Marketing Plan
The characteristics of a Marketing Plan should be to:
- Provide a strategy to accomplish the mission statement of the enterprice;
- Be based on facts and valid assumptions;
- Provide for the use of existing resources;
- Describe how an organisation is going to implement the plan;
- Provide for continuity;
- Be simple and short;
- Be flexible;
- Specify a performance criterion that can be monitored and controlled.
The Marketing Plan
First you must set your marketing objectives. These must be:
- be clear;
- be measurable; and
- have a stated time frame for achievement.
Examples of marketing objectives could be:
- To generate sales of $800.00 during the first year.
- To encourage 100 new persons to try the product in the first six months.
Your marketing strategy section of your plan outlines your game plan to achieve your marketing objectives. It is, essentially, the heart of the marketing plan. The marketing strategy section should include information about the four p's:
- Product - your product(s)and services
- Price - what you'll charge customers for products and services
- Promotion - how you will promote or create awareness of your product in the marketplace
- Place (distribution) - how you will bring your product(s) together with your customers.