A marketing plan comprises a lot of fields/steps which include all areas of marketing of the company as such as well as its presentation to the public.
The detailed definition of the different steps and in order to make a plan really usable and adaptable, the fields analysed (clients, client groups, market segments, markets, etc.) and facts found out have to be collected in a written documentation.
Thus whatever changes take place and in whatever context, can be traced easily and the needed measures/counter measures can be undertaken.
The one-time time and finance investment will be worthwhile, as for all leading personnel a clear target is available and discussions always have the same basis. Furthermore it saves a lot of time-consuming discussions which otherwise could be necessary to see where and how to go in the different company-areas.
As the marketing plan will/has to become a 'schedule' for the company also the personnel of the respective fields has to be informed. This can, depending on the organisational structure, either be a general information or - from case to case - very detailed and specific.
The revision/adaptation of the marketing plan is totally depending on the kind of business, the competition, etc., however, should be done in clearly defined intervals.
Some results of compiling and following a thoroughly elaborated marketing plan can be:
1. Better projection of personnel/finances for the future - as development steps with regard to production and marketing/sales will become more transparent
2. Competitive advantages - as many other companies do not really know their potential customer basis resp. the existing competition (especially in international markets as the European Union)
That refers as well to the own products, as to the ways to the markets and clients and to possible cooperations – as said: national and international
3. Profit optimisation – if the targets are followed strictly by the internal and external personnel it becomes more clear how the clients accept our products, which features they may possibly be missing and where our company stands out to the competition. This knowledge enables us to optimize our pricing with each single client because we can better evaluate our market strength. Thus again we can avoid to sell only via a price argument - especially in today’s international competition.
4. Product optimization/change - as, due to the close connection to our clients (which is part of the targets), we can find out better which specific targets he has with his products for his clients for the future. Thereby again we get first hand informaton for our development departments.
5. Increased client satisfaction and thus loyalty also regarding our brands as well as dealer loyalty.
6. Upgraded image in the market places and thus again better chances to get new clients
... and much more which is important for the secure future of Your company.
The Marketing Plan As A (Strategic) Planning And Steering Tool - To learn more about this author, visit Michael Richter's Website.
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