Marketing planning in a business plan
Marketing is the creation and maintenance of processes for promoting a product or service in a certain market segment, ways of attracting and communicating with consumers of this product, creating a certain "image" of a product, own brand, clarifying the conditions under which a certain category of consumers will purchase the proposed product ...
This section of the business plan is required for all documents. It is the marketing plan that potential investors read most carefully if they are intrigued by the resume, because it should contain a strategy for the future offer of products on the market at different stages of the company's existence, and provide evidence that you are able to realize all the planned sales volumes in the future.
In short, the general scheme of the structure of the marketing plan looks something like this:
- Detailed analysis of the demand for the proposed product at the moment; forecast of demand for the future (increase or decrease in sales)
- Study of factors affecting the level of demand today and in the future; ways to minimize negative factors and maximize positive
- Analysis of the solvency of the target group of buyers, for which the product is mainly intended
- Proposal of ways to improve the quality of the product; methods of increasing competitiveness
- List of ways to offer their products on the market; demonstration of methods to increase demand
- Justification of the pricing policy, bringing all cost calculations, presentation of the price list, methods and conditions for reducing / increasing prices in the future
- Logistic ways of movement of goods from the manufacturer to the final consumer
- Overall assessment of the success of the proposed project; indicators of achievement of the goals set before the business plan
Now is the time to digress a little and introduce you to new concepts that will be useful to us further in drawing up a marketing plan.
In general, when defining the strategy of an enterprise, there are three main vectors:
- The general (or corporate) strategy of the enterprise - defines the business goals of the project, its mission, and the values that the enterprise is guided by.
- Business strategy of the enterprise - shows the ways of product entry to the market, ways of "presentation" of the company in this market segment; studies the competent distribution of the available resources of the enterprise (finances, personnel, consumables, etc.).
- Functional strategy - detailed development of the work of each department of the enterprise. We will dwell on this point in more detail.
Functional Marketing Strategy
This type of marketing strategy, in turn, is subdivided into several more. In more detail, I tried to display everything in the Table: Functional strategies Description Assortment strategy Analyzes product categories, the value and development of each of them. Determines the rotation of goods and differentiation among themselves. Deals with the development of new types of goods. product promotion strategy Determination of the target market and category of consumers, advertising plan and budget for it. distribution strategy (sales) Establishes direct sales channels, determines the principles of working with intermediaries Pricing Establishes selling, wholesale and retail prices, develops a policy of price competition, examines the possibility of using marketing techniques Choosing a market niche Studying the selected market segment, conditions for introducing a new product to the table of contents ↑
Analyzing and forecasting demand
At this stage of creating this section, it is necessary to show investors (or clarify for themselves) how much the proposed product is in demand on the market. In theory, this is quite difficult to do. To obtain the most reliable data, it is necessary to conduct sociological surveys, study statistics on this issue, and monitor printed publications and Internet resources. One of the most effective methods is to conduct "trial" sales of a product or service. In reality, get ready for the fact that for the first month or two you will have to constantly adjust prices, ways of offering goods and interacting with customers.
“What is a business plan for then?” you ask. The point is that in the document you should display as many options as possible that can occur. Of course, it is impossible to foresee everything, but you need to strive for this.
The article contains the characteristics of the types of marketing plans and their typical structure. The article also contains a description of the stages of drawing up marketing plans, parameters for assessing their effectiveness and recommendations for drawing it up on the example of hotel promotion.
Stages of Marketing Planning
The process of drawing up a marketing plan goes through the following main stages:
1 Analysis of market trends. Here you need to carefully study existing and predict future market trends and conduct an analysis of competitors. An example of an object of analysis can be the attitude of buyers in general to a given product, if it is already on the market, main brands, consumer preferences in terms of the method of purchase, examples of packaging, promotion options and other factors that characterize the market or its segment as a whole.
2 Product development. Without a quality product, developing a marketing plan doesn't make sense. It is the features and advantages of a product or service expressed in consumer qualities, packaging design, price or features of service and warranty service that will allow you to achieve a competitive advantage.
3 Define the target segment. It analyzes consumer behavior and, on its basis, determines the segment for which the product or service will be most interesting.
4 Development of positioning principles and formation of competitive advantages. Correct positioning allows the product to occupy its market niche and contributes to the formation of advantages in the eyes of consumers in relation to similar products of competitors.
5 Development of a promotion program, which should contain a full range of marketing for a given product and service, from direct advertising of the product to actions aimed at strengthening the brand and building loyalty.
6 Writing an action plan that includes specific types of work for all previous stages, indicating the timing, responsible persons and the planned concrete and measurable result.
Thus, in order to draw up an effective plan, a lot of resources are needed, both in terms of time and in terms of the qualifications of the performers. To increase the efficiency and speed of bringing the product to market, download a ready-made, fully structured, business plan for your line of business, which contains calculations of all the necessary financial indicators and will allow you to launch your business efficiently.
Marketing Plan Structure
When drawing up a marketing plan, you must adhere to the following structure:
Nesterov A. Marketing plan: structure and example // Encyclopedia of the Nesterovs
Let's analyze the structure of a marketing plan using a specific example.
Marketing Plan Structure
- Brief information about the company
- Sales Organization and product distribution
- Organization of marketing in the enterprise
- Exploring the external environment li >
- SWOT Analysis
- Marketing Plan
Brief information about the company
Spets LLC is a company specializing in the supply, installation and maintenance of equipment from leading European manufacturers for heating, water supply, gas supply, sewerage, and air conditioning systems. Design and installation of heating systems, water supply, gas supply, sewerage, air conditioning, supply of equipment from the best domestic and foreign manufacturers - this is the main field of activity of the company.
LLC "Spets" was formed in 2021. Full name of the organization Limited Liability Company "Spets". The legal address of the company is Moscow, Paveletskaya nab., 2, building 8.
The company "Spets" operates only in one market - the market for engineering and installation works. All work performed and services rendered are carried out by the company in this market.
Design and installation of heating systems, water supply, gas supply, sewerage, air conditioning is an engineering and installation work carried out both for residential buildings and for commercial objects. Directly systems of heating, water supply, gas supply, sewerage, air conditioning are engineering communication systems of buildings. Design and installation of engineering systems is a segment of the construction services market.
What is a Marketing Plan
In business and marketing, planning plays a key role.
A marketing plan is a comprehensive analysis of the current state of the business, detailing future marketing activities and communications necessary to achieve the company's goals. The marketing plan is accompanied by an estimated budget for each item of expenditure, an account of potential risks and a contingency plan of action.
MP is no less important than the production and financial plan included in the company's strategic development plan.
It is important to understand that marketing planning is relative, approximate and much based on hypotheses. The correctness or falseness of these assumptions is determined empirically during the testing process.
What is a company's marketing plan for
Types of Marketing Planning
There is currently no clear classification of MPs. There are many elements that a marketing plan can be composed of. Any combination of them is allowed depending on the goals and objectives.
It makes sense to mention two MT development techniques:
"Shortest" MT in the World
One of the main parts of the business plan is the section that describes the marketing policy that is supposed to be carried out for the project. The concept of marketing includes a set of measures for the promotion and sale of goods in the market. In a broader sense, marketing also refers to the development and creation of products.
Important! The marketing plan in each case can vary greatly.
The Importance of Marketing Planning
To understand what the purpose of a marketing plan is, you need to decide what problems the company faces, it is designed to help solve. And the range of such problems can be very wide, so the strategy of business actions required to solve them needs serious development. With a competent approach, the efforts and funds spent on this will more than pay off, since such a strategy provides the following opportunities:
- Being guided by it, you can not only identify obstacles to the implementation of the project, but also build a hierarchy of existing or potential problems. In this case, the main criterion is the degree of threat they carry. This approach makes it possible to focus on solving really important tasks, without allowing funds to be wasted.
- Among the advantages of this technique should be ranked as a differentiated approach to assessing risks, which are quite clearly divided into external and internal. Internal risks include those that can be adjusted. External risks are caused by objective reasons, so protection against them is passive.
- Another advantage of strategic planning of this kind is that thanks to it it becomes possible to accurately account for the funds available to the executors of the plan, as well as funds that can be attracted from outside.
- In addition, a correctly chosen strategy allows you to effectively dispose of the funds involved, excluding their inappropriate use.
- Thanks to her, the necessary research of various influencing factors becomes available to carry out not only at the initial stage, but also at all other stages of work as the project develops.
- An additional and very important advantage of marketing planning is the possibility of systemic forecasting, covering all significant factors and process parameters.
Content of the marketing plan
The general outline of a marketing plan might look like this:
- The first part of the plan should contain the results of a study of the state of the enterprise or firm at the current moment. This part includes information about equipment, production, warehouse, retail and auxiliary areas, staff.
If we are talking about an enterprise that is only supposed to be created, then this part includes a detailed list of what it should be. It also includes additional information, such as the condition of access roads, infrastructure and much more.
- The next part of the plan includes the results of a study of the financial condition of the company over the past year.
If a new business appears in the plan, then data on what funds are supposed to be spent on its opening and subsequent functioning. This information is accompanied by a detailed justification of the amounts required.