Strategic Marketing Plan

1.Executive Summary

The executive summary describes the report’s major findings and recommendations.

It is designed to provide a busy reader with the major issues contained in the report and allows the reader to gain insight to key outcomes without having to read the whole report. You may use bullet-points to present the key points if you like.

2.Business Mission and Vision

The business mission is a broadly defined, enduring statement of purpose that distinguishes a business from others of its type.

It should state “what business is the company in” (or wants to be in) and it may include the markets being served, the customer needs being satisfied and the technology being utilised.

If the Mission Statement answers the question “What are we here for?”, the Vision should answer the question “Where are we going?”

3.External Marketing Audit

A marketing audit is a systematic examination of the marketing environment our business operates in as well as our objectives, strategies and activities. It helps us identify key strategic issues, potential problem areas and opportunities as well as providing the basis upon which a plan of action to improve marketing performance can be built.

The external aspect of the marketing audit focuses on:

  • Macro-environment
  • The market
  • Competition

3.1.Macro-environment

The macro-environment consists of broad environmental issues that impinge on our business and is normally analysed under the following headings (hence the reason it is referred to as a PEST analysis):

  • Politico-Legal
  • Economic
  • Socio-Cultural
  • Technological

You don’t have to put something under every heading; if it is not likely to impact our business, leave it out. For every event, state its likely impact on the company and the resulting implications.

3.2.The Market

The ‘market’ aspect of the marketing audit consists of:

  • analyses of market size, growth rates and trends (Area Profile Reports and Census data would be useful here);
  • customer analyses including who they are, what choices they make, how they rate your competitors and how the market is segmented;
  • distribution analyses including physical distribution, role and interests of decision-makers and influences with distributor organisations (the availability of product and the role of producers, or the role of venues for production companies, for example).

3.3.Competition

Competitor analysis examines:

  • Who are our competitors (actual and potential)?
  • What are there objectives and strategies, strengths and weaknesses, market share and size?
  • What trends will affect competition in the future (role of consumers and/or suppliers, new competitors)?

The external part of the marketing audit helps us identify OpportunitiesThreats.

4.Internal Marketing Audit

The internal aspect of the marketing audit focuses on the activities and performance of the company in the light of the external marketing environment:

It should cover an evaluation of the following four sections (where information is available):

  • Operating Results
  • Strategic Issues Analysis
  • Marketing Mix Effectiveness
  • Marketing structure and systems

4.1.Operating Results

This covers operating results (by product, product type, customers, geographic region etc.) in terms of sales and costs.

4.2.Strategic Issues Analysis

Strategic issues analysis will answer the following questions:

  • What are our current marketing objectives?
  • How do we currently segment the market?
  • What is our competitive advantage (if any)?
  • What are our core competencies?
  • How are our products positioned in the marketplace?
  • How are products placed in terms of market attractiveness and company strength (portfolio analysis)?

Each answer will be evaluated to produce Strengths and Weaknesses.

4.3.Marketing Mix Effectiveness

Each element of the marketing mix (product, promotion, price, place, people, process and physical evidence) should be evaluated in the light of the external marketing environmental analysis.

4.4.Marketing Structures and Systems

The marketing structures and systems of the company should be evaluated to identify what exists and how effective it is. Marketing structures include marketing organisation, marketing training, and interdepartmental communication. Marketing systems include marketing information systems, the marketing planning system and the marketing control systems.

THIS IS ONLY A PARTIAL VIEW OF THE FULL DOCUMENT. GET THE FULL DOCUMENT HERE.

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