Marketing plans are an
extension of operational strategies, and define precisely what must be done, by
whom, when, how and with/by what means. These may affect the company's
marketing, product or service or a specific operation, covering a period of
several years, one year or even just a few days. In addition to conventional
procedures and methods of control, marketing uses two specific instruments:
1. Performance indicators both quantitative and
qualitative
2. Marketing audits, testing and revision
(updates)
The marketing strategy provides
a structured approach to strategy/tactics in the marketing mix. A marketing
plan only differs (essentially) in its strategy by its detail, both in the
temporal respect and planning/implementation respect.
The marketing plan is
separate from the overall business strategy.
It is an extension of operations.
It is a means to attaining a goal. The strategy is to set goals and then
choose a way of implementation them through a combination of means that will
achieve them. The marketing plan is there to decide how this process will play
out in a concrete and precise manner. It
should answer:
What actions will be taken?
What is needed with regards to material, human
and financial aspects?
By whom?
When?
How?
The overall marketing
plan should be built around setting targets for each activity and target of
each of the products or services of the company, in terms of sales volume,
turnover, financial contributions, etc. It should be built around distribution
activities with regards to products or services, as well as distribution of the
human and financial resources at the company’s disposal. This type of plan is
usually done for a period of one year, but many companies are developing
marketing plans that are both short and long-term, which are updated and
revised each year, with annual plans set with successive stages.
As part of the overall
marketing plan of the company, each activity, each product line or service and
each individual product or service should have a specific plan. Whether the
overall marketing plan of the company or a plan for an activity or product or
service, it is often necessary to decompose it into a set of
"sub-plans" based on geographical data or by customer segments
(demographics). For some marketing plans, it is often useful to establish a
detailed action plan. Such plans may involve:
Launching a new product or new packaging
The organization of a test market or a market
study
Organizing an important event for the company
Implementation of an advertising campaign
Launching a promotional campaign
Whatever the level at
which a marketing plan exists, it should generally include the following main
headings:
Targets to be achieved at the end of the
period covered by the plan
The designated responsibility for each
operation
The expenditure budget and appropriate revenue
for each of these operations
The planning of these operations
The list of key operations to conduct
The definition of performance indicators that
will be used to monitor the implementation of the plan and objectives.
The financial plan
reflects actions as per planned marketing figures. These include:
Sales forecast volume and value
Contribution level and expected profitability
Expenditure budget marketing and sales
They can be non-financial
in nature such as:
Changes in demand
Changes in the level of customer satisfaction
Changes in the number of customers
The evolution of the market share
The control principles
are set to define marketing plans before, during and after the implementation
of the plan. It uses information to measure the achievement of the plan and
analyze the causes of differences which may be identified. The information
necessary to monitor a marketing plan are called performance indicators and
must be defined in advance. The
performance indicators should be chosen so as to clarify data for analysis,
these should include:
How they are processed
The form in which they will be presented.
The source and mode of acquisition of relevant
information
A performance indicator
should preferably be chosen for each of the objectives of the plan. There is no
objective, strategy or plan, without control. Control measures will maintain
the company's ability to achieve its strategy and forecasts. It can reveal gaps
between expectation and reality. The company can then implement remedial plans
or fallback/contingency plans if the marketing and financial objectives of the
plan are not met.
