Marketing Strategy

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What objectives should a marketing plan accomplish? http://www.missouribusiness.net/sbtdc/docs/marketing.pdf http://www.sba.gov/content/developing-marketing-plan

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A marketing plan should raise public awareness of a product, service, company, or cause, resulting in more sales/donations, an enhanced reputation, and more profitability.

It should include specific, measurable objectives (increasing sales by XX percent, raising brand awareness in the eighteen to thirty-four demographic, etc.), a series of steps/actions to...

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A marketing plan should raise public awareness of a product, service, company, or cause, resulting in more sales/donations, an enhanced reputation, and more profitability.

It should include specific, measurable objectives (increasing sales by XX percent, raising brand awareness in the eighteen to thirty-four demographic, etc.), a series of steps/actions to reach those objectives, a time frame to implement and monitor the plan, and strategies to evaluate how well the plan worked. Evaluation could include a mix of tangible results (more sales) and intangible ones (more people view the company favorably than before).

Marketing plans fulfill a variety of objectives, depending on a company's needs. If the company is unveiling a new product or service, the chief objectives of a marketing plan would be to introduce the new product/service, and to get people to try it. Other marketing plans might aim to influence consumers in specific demographic categoriesā€”perhaps, for example, to raise sales among people age sixty-five and older. Others might aim to "re-brand" a company that is trying to shake off a bad reputation, or has new management and a new logo. The more specific planners are in crafting the objective(s) they want their marketing plan to fulfill, the better the chances of its effectiveness.

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Your marketing plan should include both strategic objectives and more immediate implementation strategies. A strategic objective is a long term goal, such as increasing your share of the United States market for a specific product from 5% to 10% or increasing global market penetration by a certain amount. The next element of your plan is the steps you need to achieve such goals, including a realistic time frame and budget for marketing. Next you want to think about specific objectives in different types of marketing, including social media, mass media, and direct mailing. You might also include plans for market research.

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