A Marketing Plan is a written document that outlines the business marketing strategies for the coming financial year. It also describes business activities that will be involved in accomplishing marketing objectives over a given period of time. The Marketing Plan will also describe current marketing position of the business, market target, and the marketing strategies that the business will use to achieve its marketing goals and objectives. A Marketing Plan can be used either as formal or informal document even though it has a formal structure. An executive summary for Marketing Plan is the most important section of the entire business plan. It is a great way to help the readers to have a quick short view and brief summary of your marketing goals. This article will provide assistance in preparing executive summary for Marketing Plan.
This section will consist of collecting the most important facts into a brief document. It can be difficult at times to determine what you should include in the market overview section for a Marketing Plan but it should include your market potential and any changes occurring in the market. Moreover, identify your target market, identify the competitors, and how the market is divided in terms of pricing, quality and product usage.
In this section, you will include the summary of your key competitors and explain if there is indirect competition that could affect your business. When you summarize a Marketing Plan, you should be able to outline the strengths and weaknesses of your products, your competitor’s pricing, compare the differences between their products and yours, know how they promote their products and which products they promote most, what are their goals and how they are doing to meet them.
This section will summarize the products overview by showing the key features of the products, the product purpose, marketing position and pricing structure, distribution channels, current packaging, product promotions and marketing tactics.
Goals and Objectives
A Marketing Plan should show your marketing goals and objectives. To achieve a successful Marketing Plan you first need to define your goals, and then use your marketing objectives to achieve those goals. Your marketing goals should be solid enough in order to accomplish a competitive Marketing Plan.
Strategies and Action Plan
Now develop marketing strategies that will help achieve your marketing goals. Achieving those goals means you need the best marketing process that will include the products, pricing and promotions. From here you can define your action plan and the implantation of the marketing strategies. This will outline details on how you choose to market and advertise your products and services. Implementing your marketing action plan will include details of how you choose to market your business; for example you can choose to advertise on magazines, internet or news papers. Your action plan should also offer detailed explanations of why you choose media plan for your business marketing. Make a list to show the budget of each marketing media so that you can choose the media that is cost effective and will be suitable for your Marketing Plan.
Executive Summary Templates
Here are free Executive Summary Templates to assist you in preparing your own.