What are the sections of a market planning outline? Briefly explain each section
What will be an ideal response?
The marketing plan outline follows the marketing planning process. Throughout the planning process, the
marketer must make many decisions about how the organization's offerings will be marketed. The following
sections make up the marketing plan.
Executive Summary: This section gives the reader a quick overview of the plan. It should only be one or two pages
in length. Although it appears first, it is written last, after all the other sections have been prepared and the writer is
in a good position to summarize the plan.
Objectives: This section covers the goals of the marketing plan project, reflecting the mission and competitive
advantages of the organization.
Market Overview: This section provides a sketch of the market in which the plan is to be implemented. We
establish market characteristics such as size, growth rate, and trends.
Market Segments: This section examines the separate groups that make up the market, and addresses positioning
approaches for the segments.
Competitive Landscape: This section surveys the organization's competition, and addresses strategies to take
advantage of market opportunities.
Strategy: This section leverages the market opportunities discovered in the previous section to determine a general
approach to accomplishing the plan's objectives.
Products/Services: With this section, we begin our focus on the marketing mix, starting with the tactics the
organization will use to develop products and services for the market.
Price: The second portion of the marketing mix covers the tactics to establish pricing objectives and set the price.
Place (Distribution): With this section, we begin our focus on the marketing mix, starting with the tactics on how
the organization will communicate the benefits of its products or services.
Promotion: The final portion of the marketing mix covers the tactics on how the organization will communicate the
benefits of its products or services.
Finance: This section develops a financial analysis, including break-even, pro forma income statement, and budget.
Implementation: This section discusses tools to ensure successful implementation of the plan, including schedules,
control metrics, and contingency plans.
Recommendations: This section is optional. It provides any additional information deemed vital by the plan's
writer to include, such as prioritization of effort and/or sense of urgency.
You might also like to view...
Which of the following is not considered a category within the primary value activities in a value chain analysis?
A. Firm infrastructure B. Operations C. Service D. Inbound logistics
Which of the following product mix pricing strategies involves setting prices across an entire product range based on cost differences between the products, customer evaluations of different features, and competitors' prices?
A) by-product pricing B) product bundle pricing C) optional product pricing D) captive product pricing E) product line pricing
The National Labor Relations Board is an administrative body that prevents union members from engaging in illegal labor practices
Indicate whether the statement is true or false
A ________ is often used to illustrate the position of a firm's products or brands in consumers' minds.
A. psychographic profile B. mass marketing analysis C. perceptual map D. Tapestry analysis E. loyalty timeline