A marketing plan template is an outline for doing business study. It’s a step by step procedure on what to do with your business marketing plan.
Your Marketing plan is not a Feasibility study.
The difference is a Marketing plan gives focus on selling and promoting not unlike a Feasibility study where it pertains to the whole business aspect. So how do you make a marketing plan template? Here’s how:
First is to make an Executive summary. It’s a high level summary of the marketing plan. Just like reading a newspaper, the first paragraph should be an eye grabber and an interesting topic but at the same time it’s precise. When making an executive summary make sure it’s a headliner.
Next is the Business description. This describes the business product or services. It’s an overview of what the business product or services is all about. It explains the use and purpose and gives out the advantages and disadvantages. Market share of the business is also in this department and is essential to the business growth.
Having short and long term goals will guide your business if it is doing good or going down the drain.
That is why Market segmentation is necessary on a marketing plan template. It explains the percent of sales, what the customers/clients want, how is the product/service is used, the support requirements, teaching sales representatives and price sensitivity.It segments and filters down all the marketing aspect and can be carefully studied upon.
With this the business owner can improved and give attention to a segment that is having difficulty.
Marketing strategy is also included in the template where it list down all marketing alternatives just in case Plan A doesn’t work out.
Things like product re-branding, positioning and giving more value to the business service or product could be in place to proceed with Plan B and C. Don’t forget to remember the four P’s (Product, Price, Place and Promotion) when tackling this topic.
Of course you need to end your marketing plan template with a conclusion. It grades all of the above topics and makes an assessment of how this marketing plan will do in real life.
Appendix and exhibits are attached here which may include calculations of market size, profit margins, commissions and break even analyzes.