What is a Marketing Plan?

what-is-a-marketing-planHave you ever wondered what a Marketing Plan is?

Does all this talk of marketing planning sound like double Dutch to you?

Well a Marketing Plan, in simple terms, is a road map for your business.  A Marketing Plan should outline specific actions your business will take to market your service or product to the people who purchase it (your customers).

A Marketing Plan should supplement your Business Plan.  Together, these plans will guide your business on where it is going and how it is going to get there.

So, how do you write a Marketing Plan?

  1. Identify your Company’s Vision, Mission and Values
  2. Identify your objectives; what are the specific goals of the company (time bound them)
  3. List the products/service that your company offers
  4. Identify who will consumer your product/service? The people who buy your product may not be the people who consume your products. You need to identify your consumers
  5. Identify who your competitors are
  6. Consider your competitors and identify what is unique, special and/or different about your product/service. This is referred to as positioning.
  7. Develop your pricing
  8. Identify how you will sell your product and the support you will need to sell it
  9. How will people find out about your product/service, for example:
    1. What signage do you need
    2. What will your stationery look like
    3. What brochures do you need
    4. What promotions will you run
    5. What advertising will you do
    6. What social media will you be active in
  10. What is your budget? How much money do you have to promote your products/service?
  11. What is your action plan? What will you sell, when will you promote it?
  12. Summarise your actions

As you can see, a Marketing Plan can be quite complex, however by writing a Marketing Plan you will be setting yourself up for success in the future.

If you know you should have a Marketing Plan but it all sounds too hard, then don’t delay, just give us a call and we would be delighted to help.

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Lynda Schenk

For almost three decades, Lynda Schenk has worked across a diverse range of industries including wine, hospitality, human resources, transport, medical devices, building and construction, conveyancing, landscape gardening, water filtration, organic farming, industrial cleaning and not-for-profit industries. She has a deep understanding of the marketing needs of companies, small and large. Lynda has a natural ability to talk to people, understand their business and their objectives, and then to work with them to formulate marketing plans, brand strategies and marketing communication plans that build brand equity, growth and profitability. Lynda is the winner of the Fabulous Ladies of Wine, 2018 Wine Marketer of the Year and a 2019 Telstra Business Woman of the Year, Small Business Category finalist and a finalist of the Marketing category for the 2023 and 2024 Australian Small Business Champions Awards.

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