Marketing Plan

Part I—Synopsis or Mini-plan

This section contains an Executive Summary. An Executive Summary defines and illustrates the content of the Marketing Plan. It should be no more than one page in length so as to allow the reader to determine his/her interest in reading the balance of the plan.

Part II—Company Goals

Included in this part of the Marketing Plan are the objective and/or goals established for the organization. There are items that will generally result in and/or produce outcomes for the company to achieve.

Part III—Description of Customers and their Needs

This section should define the target market for your product/service. I order to sell products/services, marketing expert must understand the needs for consumers. Having a clear understanding of customer motivations will provide a clear direction for the overall marketing plan. Your market research should include the gathering of demographic information.

In the global market other considerations include communication, traditions and customs, and buying habits. What does your research reveal about your target market?

Part IV—Description of Pricing Strategy

Pricing involves many factors. The marketing plan must include your rationale for price setting. Included in this section will be all the elements affecting the production process. Differentiate between fixed and variable costs as well as the break-even point. Profit margin should be established in this section.

Part V—Competition

In this section you provide a clear picture of the overall market. How many other firms/businesses offer the same product/service? What is your plan to win over the customer base when they have a clear choice between your offerings and other firms/ businesses? Is there

Part VI—Marketing Mix A good marketing plan answers questions regarding the promotion of the product/service. Will it appeal to buyers? How much should it cost?