Mission & Vision
Mission and vision describe the high level purpose and direction of your marketing strategy. A mission is a short statement that sums up your business in a sentence. A vision paints a picture of your future goals. These tend to be aspirational. It is more important that they sound ambitious than be completely realistic and achievable.
Goals
The measurable goals of your marketing plan based on financial and marketing metrics such as revenue, gross margins, operating margin, brand recognition, brand awareness, customer satisfaction, customer acquisition cost and customer lifetime value.
Strategy
A marketing strategy is a plan to achieve goals that takes into account factors such as your target market, competition and constraints.
Market Research
A plan to conduct future market research and/or the results of market research that you have already conducted such as identification of a target market.
Competitive Analysis
An analysis of your competitive position in your target market. This often begins with a SWOT analysis and progresses to an executive overview that explains your competitive advantage in a paragraph.
Payback Analysis
A financial analysis of the investments required by the plan based on estimates of investment costs, revenue and expenses. It is common to calculate metrics such as payback period and return on investment.
Action Plan
A marketing plan may include an implementation plan. At its most complex, this is a complete work breakdown structure and schedule. Alternatively, a marketing plan may include a high level action plan that includes key activities, responsibilities and dates.
Notes
The marketing plan above is completely fictional and is offered for illustrative purposes only.| Overview: Marketing Plan | ||
Type | ||
Definition | A document that communicates a marketing strategy. | |
Related Concepts | ||
