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Marketing Plan

plan_marketing_182x173A marketing plan is an essential tool that any company that intends to be competitive should use. It is a flexible tool which allows the company to improve and maximize the resources already existing within the firm, thus improving its organization, and a way to obtain results. A marketing plan establishes the actions to be carried out in order to attain the objectives set and must be implemented using the parameters established in the strategic plan.

A strong marketing plan should include information regarding the following topics:

vin?eta Analysis of the situation: Both the internal and external factors that have an impact on our company are included in this section:

  • The company’s SWOT analysis (Strengths, Weaknesses, Opportunities and Threats)
  • External environment: the market’s socioeconomic situation, legal regulations, labour market environment, etc.
  • Market: analysis of the sector that affects us, consumer behaviour, segment identification, market trends,competitor analysis, etc.
vin?eta Objectives: Once we are aware of the company’s situation, the targets to be achieved are established both quantitatively, (sales targets, new registered clients, target market share, etc.) and qualitatively (improvement of the positioning and image of the company). It is important that the targets are achievable, realistic, flexible and are well defined.
vin?eta Strategy Approach:  In relation to the product, the means and ways chosen to promote it, how the sales force will be organized to carry it through distribution channels, as well as reviewing the key and strategic processes and the key people needed to achieve it.
vin?eta Action Plan:  Details the specific actions to be performed in order to reach the targets set, outlining the specificexecution time frames.
vin?eta Budget:  Estimate the global cost of all the points outlined in the Action Plan.
vin?eta It is also important to establish control tools and measures (scorecard) in order to verify that once the implementation of the marketing plan has begun, each stage of the execution is being carried out correctly and in accordance to what has been established.