Excerpt from On Target: The Book on Marketing Plans by Tim Berry and Doug Wilson
Every marketing plan has to fit the needs and situation. Even so, there are standard components you just can't do without. A marketing plan should always have a situation analysis, marketing strategy, sales forecast, and expense budget.
- Situation Analysis: Normally this will include a market analysis, a SWOT analysis (strengths, weaknesses, opportunities, and threats), and a competitive analysis. The market analysis will include market forecast, segmentation, customer information, and market needs analysis.
- Marketing Strategy: This should include at least a mission statement, objectives, and focused strategy including market segment focus and product positioning.
- Sales Forecast: This would include enough detail to track sales month by month and follow up on plan-vs.-actual analysis. Normally a plan will also include specific sales by product, by region or market segment, by channels, by manager responsibilities, and other elements. The forecast alone is a bare minimum.
- Expense Budget: This ought to include enough detail to track expenses month by month and follow up on plan-vs.-actual analysis. Normally a plan will also include specific sales tactics, programs, management responsibilities, promotion, and other elements. The expense budget is a bare minimum.
Are They Enough? These minimum requirements above are not the ideal, just the minimum. In most cases you'll begin a marketing plan with an Executive Summary, and you'll also follow those essentials just described with a review of organizational impact, risks and contingencies, and pending issues.