an essay on marketing plan

What is a Marketing Plan & How to Write One [+ Examples]

FREE MARKETING PLAN TEMPLATE

Plug-and-play template to designed to guide your marketing plan development.

Updated: 08/07/24

Published: 06/12/18

Updated: August 07, 2024

Published: June 12, 2018

One of my favorite ways to break through writer’s block, whether the assignment is a marketing plan or a short story, is simply reading more examples. (I also recommend taking a long walk; you’d be surprised.)

I can’t take you on a walk, but I can give you some examples, some inspiration, and some guidelines to get your creativity humming.

If you don’t know where to start, we’ve curated lists of marketing plans and marketing strategies to help you write a concrete plan that will produce results.

Let’s start by understanding the differences between the two.

Featured Resource:   Free Marketing Plan Template

Looking to develop a marketing plan for your business?   Click here to download HubSpot's free Marketing Plan Template to get started .

Table of Contents

Marketing Strategy Examples

What is a marketing plan, marketing plan vs. business plan, how to write a marketing plan, types of marketing plans, marketing plan examples, marketing plan faqs, sample marketing plan.

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A marketing plan is a strategic road map that businesses use to organize, execute, and track their marketing strategy over a given period. Marketing plans can include different marketing strategies for various marketing teams across the company, all working toward the same business goals.

The purpose of a marketing plan is to write down strategies in an organized manner. This will help keep you on track and measure the success of your campaigns.

Your marketing plan lays out each campaign‘s mission, buyer personas, budget, tactics, and deliverables. With all this information in one place, you’ll have an easier time staying on track with a campaign, and you can figure out what works and what doesn’t.

To learn more about creating your marketing plan, keep reading or jump to the relevant section:

A marketing plan is a strategic document that outlines marketing objectives, strategies, and tactics.

A business plan is also a strategic document. But this plan covers all aspects of a company's operations, including finance, operations, and more. It can also help your business decide how to distribute resources and make decisions as your business grows.

A marketing plan is a subset of a business plan; it shows how marketing strategies and objectives can support overall business goals. And if you need an assist executing a marketing plan, might I recommend HubSpot’s marketing hub ?

Marketing Strategy vs. Marketing Plan

A marketing strategy is the part of your marketing plan that describes how a business will accomplish a particular goal or mission.

This includes which campaigns, content, channels, and marketing software you’ll use to execute that mission and track its success.

A marketing plan contains one or more marketing strategies. It's the framework from which all your marketing strategies are created, and it helps you connect each strategy to a larger marketing operation and business goal.

For example, suppose your company is launching a new software product, and it wants customers to sign up. The marketing department needs to develop a marketing plan that'll help introduce this product to the industry and drive the desired sign-ups.

The department decides to launch a topical blog, debut a YouTube series to establish expertise, and create new X and Instagram accounts to join the conversation around this subject. All this serves to attract an audience and convert this audience into software users.

To summarize, a business' marketing plan is dedicated to introducing a new software product to the marketplace and driving sign-ups for that product. The business will execute that plan with three marketing strategies : a new industry blog, a YouTube video series, and an X account.

Of course, the business might consider these three things as one giant marketing strategy, each with its own specific content strategies. How granular you want your marketing plan to get is up to you. Nonetheless, every marketing plan goes through a particular set of steps in its creation.

• State your business' mission.
• Determine the KPIs for this mission.
• Identify your buyer personas.
• Describe your content initiatives and strategies.
• Clearly define your plan's omissions.
• Define your marketing budget.
• Identify your competition.
• Outline your plan's contributors and their responsibilities.

1. State your business' mission.

Your first step in writing a marketing plan is to state your mission. Although this mission is specific to your marketing department, it should serve as your business' main mission statement.

In my experience, you want to be specific, but not too specific. You have plenty of space left in this marketing plan to elaborate on how you'll acquire new customers and accomplish this mission.

For those of you running startups or small businesses, HubSpot’s starter bundle is a great all-in-one solution — it can help you find and win customers, execute content marketing plans, and more.

If your business' mission is “to make booking travel a delightful experience,” your marketing mission might be “to attract an audience of travelers, educate them on the tourism industry, and convert them into users of our bookings platform.”

Need help building your mission statement? Download this guide for examples and templates and write the ideal mission statement.

2. Determine the KPIs for this mission.

Every good marketing plan describes how the department will track its mission‘s progress. To do so, you need to decide on your key performance indicators (KPIs) .

KPIs are individual metrics that measure the various elements of a marketing campaign. These units help you establish short-term goals within your mission and communicate your progress to business leaders.

Let's take our example of a marketing mission from the above step. If part of our mission is “to attract an audience of travelers,” we might track website visits using organic page views. In this case, “organic page views” is one KPI, and we can see our number of page views grow over time.

Also, make sure to check whether your current reporting software facilitates the KPIs you need. Some reporting tools can only measure a set of pre-defined metrics, which can cause massive headaches in particular marketing campaigns.

However, other tools, like HubSpot’s analytics software , can offer full flexibility over the KPIs you wish to track.

You can generate custom reports that reveal average website engagement rates, page visits, email, social media traffic, and more.

These KPIs will come into the conversation again in step 4.

3. Identify your buyer personas.

A buyer persona is a description of who you want to attract. This can include age, sex, location, family size, and job title.

Each buyer persona should directly reflect your business' current and potential customers. All business leaders must agree on your buyer personas.

4. Describe your content initiatives and strategies.

Here‘s where you’ll include the main points of your marketing and content strategy.

Because there‘s a laundry list of content types and channels available today, you must choose wisely and explain how you’ll use your content and channels in this section of your marketing plan.

When I write this section, I like to stipulate:

• What types of content I'll create. These might include blog posts, YouTube videos, infographics, and ebooks.
• How much I'll create. I typically describe content volume in daily, weekly, monthly, or even quarterly intervals. It all depends on my workflow and the short-term goals for my content.
• The goals (and KPIs) I'll use to track each type. KPIs can include organic traffic, social media traffic, email traffic, and referral traffic. Your goals should also include which pages you want to drive that traffic to, such as product pages, blog pages, or landing pages.
• The channels on which I'll distribute my content. Popular channels include Facebook, X, LinkedIn, YouTube, Pinterest, and Instagram.
• Any paid advertising that will take place on these channels.

5. Clearly define your plan's omissions.

A marketing plan explains the marketing team's focus. It also explains what the marketing team will not focus on.

If there are other aspects of your business that you aren‘t serving in this particular plan, include them in this section. These omissions help to justify your mission, buyer personas, KPIs, and content.

You can’t please everyone in a single marketing campaign, and if your team isn’t on the hook for something, you need to make it known.

In my experience, this section is particularly important for stakeholders to help them understand why certain decisions were made.

6. Define your marketing budget.

Whether it's freelance fees, sponsorships, or a new full-time marketing hire, use these costs to develop a marketing budget and outline each expense in this section of your marketing plan.

You can establish your marketing budget with these 8 free marketing budget templates .

7. Identify your competition.

Part of marketing is knowing your competition. Research the key players in your industry and consider profiling each one.

Keep in mind that not every competitor will pose the same challenges to your business. For example, while one competitor might rank highly on search engines for keywords that you’re also chasing, another competitor might have a heavy footprint on a social network where you plan to launch an account.

Easily track and analyze your competitors with this collection of 10 free competitive analysis templates .

8. Outline your plan's contributors and their responsibilities.

With your marketing plan fully fleshed out, it‘s time to explain who’s doing what.

I don’t like to delve too deeply into my employees’ day-to-day projects, but I know which teams and team leaders are in charge of specific content types, channels, KPIs, and more.

Now that you know why you need to build an effective marketing plan, it’s time to get to work.

Starting a plan from scratch can be overwhelming if you haven't done it before.

That’s why there are many helpful resources that can support your first steps. We’ll share some of the best guides and templates to help you build effective results-driven plans for your marketing strategies.

The kind of marketing plan you create will depend on your company, your industry, and your business goals. We compiled different samples to suit your needs:

1. Quarterly or Annual Marketing Plans

This marketing plan by Visit Oxnard, a convention and visitors bureau, is packed with information: target markets, key performance indicators, selling points, personas, marketing tactics by channel, and much more.

It also articulates the organization’s strategic plans for the upcoming fiscal year, especially as it grapples with the aftereffects of the pandemic.

Lastly, it has impeccable visual appeal, with color-coded sections and strong branding elements.

• It states clear and actionable goals for the coming year.
• It includes data and other research that shows how the team made its decisions.
• It outlines how the team will measure the plan’s success.

4. Safe Haven Family Shelter

This marketing plan by a nonprofit organization is an excellent example to follow if your plan will be presented to internal stakeholders at all levels of your organization.

It includes SMART marketing goals , deadlines, action steps, long-term objectives, target audiences, core marketing messages , and metrics.

The plan is detailed yet scannable. By the end of it, one can walk away with a strong understanding of the organization’s strategic direction for its upcoming marketing efforts.

• It confirms ongoing marketing strategies and objectives while introducing new initiatives.
• It uses colors, fonts, and formatting to emphasize key parts.
• It closes with long-term goals, key themes, and other overarching topics to set the stage for the future.

5. Wright County Economic Development

• “Going viral” isn’t a goal; it’s an outcome.
• Be surprising. Subvert expectations.
• Be weird and niche if you want to be weird and niche, but establishing a shared cultural understanding might result in a bigger audience.

Pridemore Properties’ Instagram smash hit is unexpected, to say the least. You think you’re getting a home tour that takes your figurative breath away; you get a home tour that takes the agent’s literal breath away.

Verizon’s toe-tapping, hip-shaking Totalmente (aka Total by Verizon, a contractless phone plan) ad debuted during Univision’s Spanish-language broadcast of Super Bowl LVIII. The ad reinvents the 1998 Elvis Crespo song “Suavemente,” an earworm if I’ve ever heard one, replacing the lyrics with Total by Verizon features.

Verizon Value’s CMO and VP of Marketing, Cheryl Gresham, has admitted that she didn’t know much about marketing to a majority-Latinx audience.

In an interview with Campaign Live , she said she didn’t think the idea would have gotten off the ground “if it had just been me and a lot of other people that had a background like myself in that room.”

CampaignLive wrote, “Gresham says the team opted for a creative concept that spoke to all the Latinos in the room — despite Gresham herself not understanding the connection.”

Gresham’s marketing strategy hinged on knowing her audience and, just as importantly, trusting her fellow marketers who knew how to reach that audience.

Strategic Takeaways for Demographic Marketing

• Know what you don’t know.
• Foster diversity in marketing leadership and staff.
• Know your audience.

The catchy tune and the great storytelling certainly don’t hurt.

But more than that, Ogilvy and Verizon dug deep into Latinx culture — more than 25 years deep — to craft an ad that doesn’t feel like it’s just responding to the latest trend. They also tapped Venezuelan American comedian, musician, and producer Fred Armisen to direct the spot.

6. Chappell Roan

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Home — Essay Samples — Business — Marketing Plan — Importance of a Marketing Plan

Importance of a Marketing Plan

• Categories: Marketing Plan Marketing Strategy

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Words: 586 |

Published: Jan 15, 2019

Words: 586 | Page: 1 | 3 min read

Works Cited:

• Directive 95/46/EC of the European Parliament and of the Council of 24 October 1995 on the protection of individuals with regard to the processing of personal data and on the free movement of such data. (1995). Official Journal of the European Union, L281, 31-50. https://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CELEX:31995L0046:EN:HTML
• Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation). (2016). Official Journal of the European Union, L119, 1-88. https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32016R0679&from=EN
• O'Hara, K. (2018). The European Union's General Data Protection Regulation: A practical guide. OUP Oxford.
• Dixon, P. (2018). The EU General Data Protection Regulation (GDPR): A commentary. Oxford University Press.
• Solove, D. J., & Schwartz, P. M. (2014). Privacy law fundamentals. IAPP.
• Macnish, K. (2018). Privacy by design: Origins, meaning, and prospects for the GDPR. Computer Law & Security Review, 34(2), 193-204.
• Cavoukian, A., & Jonas, J. (2011). Privacy by design: Essential for organizational accountability and strong business practices. Identity in the Information Society, 4(2), 247-252.
• Bennett Moses, L., & Chan, J. (2018). Algorithmic decision-making and the GDPR. Computer Law & Security Review, 34(3), 496-516.
• Mitrano, T. S. (2017). The right to be forgotten: An insider’s perspective. Harvard Journal of Law & Technology, 31(1), 1-29.
• Ausloos, J., & Baele, S. J. (2018). GDPR and the risk management of data breaches. Computer Law & Security Review, 34(2), 308-328.

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Marketing Plan, Its Importance and Examples Essay

The marketing department is an essential department of any organization. It fuels the organization’s continuity for the long term. The department must have an organized plan that enables them to involve the executives, the staff, the distributors, and the point of sale. They should also include marketing agencies and the customer. It is called the marketing plan. It communicates the marketing strategy for an offering (Kotler & Armstrong, 2014). It is supposed to influence all the stakeholders to invest their money, time, and effort. The marketing plan is, therefore, the most important aspect of marketing because it acts like a map and dictionary that everyone in the organization should follow for the achievement of the goals.

Marketing is a comprehensive module that covers more than 60% of a business’s activity. In order for the Chief Marketing Officer and his department of professionals, analysts, and engineers to go far, they have to make wise decisions (Pagla & Brennan, 2014). A Marketing plan enables a company accurately to estimate the costs of delivering products to the customer at an agreeable offering. It helps to get every marketing officer to get on board and work. The production department has to adhere to the plan since production without sales sounds baseless. The plan communicates to the sales teams about their role and expectations.

A marketing plan is a plan. Whenever people work without a plan, they can never realize when they are making a mistake. It may lead to many mistakes. The marketing unit has to have its plan and use it as a reference tool (Reed FIDM, 2014). It helps in problem-solving because it aligns duties and responsibilities to key people who must be answerable to the unit.

Proctor and Gamble is a reputable company. It has over twenty products in the market and sells worldwide. One of its products is Pampers. It has managed to make an impact all over the world because of its marketing techniques (Tanner & Raymond, 2013). The marketers who design the marketing plan understand that the market is flooded with so many similar items that, in order to sell, one has to employ vigorous marketing techniques. Its global outreach is commendable.

The Pampers is acceptable worldwide. The marketing team must have global orientation skills. Before making a product, the group must first test the market by scanning the environment and its competitors. It yields more income if the customers participate in the design of a product that they would soon buy from the market.

Kotler, P., & Armstrong, G. (2014). Principles of marketing . Upper Saddle River, N.J.: Pearson.

Pagla, M., & Brennan, R. (2014). The development of brand attitudes among young consumers. Mrkting Intelligence & Plan , 32 (6), 687-705. Web.

Reed FIDM, D. (2014). SOSTAC: The guide to the perfect digital marketing plan. J Direct Data Digit Mark Pract , 16 (2), 146-147. Web.

Tanner, J., & Raymond, M. (2013). Principles of marketing version 2.0 . Irvington, N.Y.: Flat World Knowledge.

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Building a Robust Marketing Plan: Techniques and Insights

A marketing plan serves as the roadmap for achieving business objectives and successfully reaching a targeted audience. It provides detailed strategies for identifying the market, the competition, and the core tactics that will be used to accomplish marketing goals. 

This guide offers a deep dive into crafting a marketing plan, providing specific techniques and insights essential for success. Whether refining an existing strategy or charting new territory, you will find valuable guidance to navigate the complexities of marketing planning.

What is a Marketing Plan?

A marketing plan is a strategic document that outlines a company's marketing objectives and the tactics it will employ to achieve them. It serves as a roadmap, guiding businesses in promoting their products or services, reaching their target audience, and ultimately, achieving desired sales and brand recognition.

At its core, a marketing plan is anchored in research. It begins with an understanding of the market environment, including competitor analysis, target audience demographics, and emerging industry trends. This foundational knowledge ensures that strategies are not only innovative but also relevant and timely.

Beyond mere promotion, a marketing plan encompasses the entire customer journey. It details how a business will attract potential customers, nurture them through the sales funnel, and foster post-purchase loyalty. This holistic approach ensures consistent brand messaging and a seamless experience for the consumer.

Marketing Plan vs. Business Plan

While a marketing plan focuses on strategies and actions related to marketing activities, a business plan covers the overall operation of the organization. The key components of a business plan include financial forecasts, management structure, and operational plans, whereas the marketing plan concentrates on how to reach the target audience and how to position the product or service in the market.

Marketing Strategy vs. Marketing Plan

Marketing strategy is a long-term approach that outlines the overall marketing direction and goals, while a marketing plan is a detailed roadmap on how to achieve those goals. Understanding how to write a marketing strategy is essential to crafting a compelling marketing plan.

The 7 P's of a Marketing Plan

Understanding the 7 P's of a marketing plan isn't just about knowing what they are, but also how they work together to create a successful and well-rounded strategy. Let's take a closer look at these essential elements:

• Product: The product or service must meet the needs and wants of the target audience. Consider aspects like design, features, quality, and how it stands out from the competition. If the product or service doesn't fit the market needs, other parts of the plan may not work effectively.
• Price: The pricing strategy is more than just determining a cost. It's about understanding what the market is willing to pay, what competitors charge, and what price will provide a reasonable profit margin. It also considers discounts, payment plans, and other financial factors that might appeal to customers.
• Place: Place refers to where and how the product or service will be sold. It includes choosing the right distribution channels, such as online stores, retail outlets, direct sales, or wholesale. Deciding the best place to sell ensures that the product reaches the right audience at the right time.
• Promotion: Promotion involves spreading the word about the product or service. This includes advertising, sales promotions, public relations, and more. Effective promotion ensures that the target audience knows about the product, understands its benefits, and feels motivated to buy it.
• People: This includes not only the target audience but also the team responsible for creating and delivering the product or service. Understanding what motivates the audience and training the team to meet those needs can make a significant difference in success.
• Process: The process is all about how the product or service is delivered to the customer. It includes everything from ordering, manufacturing, shipping, and service after the sale. A smooth and efficient process enhances customer satisfaction and encourages repeat business.
• Physical Evidence: Physical evidence refers to the tangible aspects that customers can see, touch, or experience, such as packaging, a retail environment, or online user experience. It provides visible proof of quality and helps build trust and confidence in the product or service.

How to Create a Comprehensive Marketing Plan

Creating a comprehensive marketing plan is like putting together a puzzle where all the pieces must fit perfectly. Each step in the process is vital to the whole, and knowing how to write a marketing plan with precision and care can lead to tremendous success..

Conduct a Situation Analysis for the Marketing Plan

A situation analysis is like taking a snapshot of where the business currently stands. This includes understanding the market conditions, competitors, strengths and weaknesses, opportunities, and threats (often referred to as a SWOT analysis). By knowing the landscape, a business can make informed decisions that align with current realities.

Determine the Target Market

Identifying the target market means understanding who the ideal customers are. What do they want? What do they need? What problems are they trying to solve? By answering these questions, a business can create a marketing plan that speaks directly to the people most likely to buy the product or service.

Define Marketing Goals and Objectives

Goals and objectives set the course for the marketing plan. Goals are broad and overarching, while objectives are specific, measurable, achievable, relevant, and time-bound (SMART). They guide what the business wants to achieve through its marketing efforts.

Develop Marketing Strategies and Tactics

This step involves deciding how to reach the marketing goals and objectives. Strategies are the broad approaches, while tactics are the specific actions that will be taken. For example, a strategy might be to increase brand awareness, while a tactic might be to run a social media advertising campaign.

Determine the Budget and Resources Needed

Without the right budget and resources, even the best-laid plans can fall flat. This step involves figuring out what will be needed in terms of money, time, personnel, and other resources. It ensures that the plan is realistic and achievable.

Implement the Plan

Once everything is in place, it's time to put the plan into action. This means launching the marketing efforts and working diligently to ensure that everything goes as planned. It requires careful coordination, attention to detail, and a willingness to adapt as needed.

Monitor, Review, and Update the Plan as Needed

A marketing plan isn't a "set it and forget it" thing. It requires ongoing attention to ensure that it's working as intended. This includes monitoring results, reviewing progress, and making updates as needed. It ensures that the plan stays relevant and continues to drive towards the goals and objectives.

Types of Marketing Plans

Understanding the various types of marketing plans is essential for tailoring strategies to specific business needs. 

Content Marketing Plan

A content marketing plan focuses on creating, publishing, and promoting engaging content that appeals to the target audience. This plan requires identifying the types of content that resonate with the audience, like blog posts, videos, or infographics, and then organizing them into a consistent schedule.

Related: Read our guide highlighting the key steps of building a content marketing dashboard, including the essential metrics to track and the best tools to use.

New Product Launch Marketing Plan

A new product launch marketing plan ensures that all the marketing elements involved in product promotion are aligned and ready to make a big splash. This includes everything from product positioning to advertising campaigns to in-store promotions.

Growth Marketing Plan

When a business is looking to expand, a growth marketing plan can guide the way. This plan focuses on strategies and tactics that will increase market share, enter new markets, or grow the customer base. It's about big picture thinking and long-term success.

Email Marketing Plan

An email marketing plan can be a powerful tool. This plan focuses on building and nurturing relationships through email . It requires understanding what the audience wants to hear about and delivering it directly to their inboxes.

Social Media Marketing Plan

Social media marketing plans are all about connecting with people where they hang out online. This includes platforms like Facebook, Twitter, Instagram, and more. This plan requires understanding the nuances of each platform and creating content that engages and delights the audience.

Related: Learn how to build an effective social media analytics dashboard and the best practices to know when using third-party solutions.

Next Steps in Your Marketing Journey

It's evident that the journey doesn't end with a well-drafted document. The true test lies in its execution and adaptability. As market dynamics shift and new challenges arise, it's essential to revisit and refine the plan, ensuring it remains aligned with evolving business objectives and market realities.

The insights and techniques shared in this guide serve as foundational blocks. However, the world of marketing is vast, and there's always more to learn, explore, and implement. Consider this guide a starting point. The next steps involve diving deeper into specific tactics, measuring the effectiveness of your strategies, and continuously optimizing for better results.

Frequently Asked Questions

A marketing plan is a vital strategic guide that outlines a company's marketing efforts over a set time frame. It includes an in-depth analysis of the market, goals, strategies, and tactics necessary to align all marketing activities with business objectives.

What's the Difference Between a Marketing Plan and a Business Plan?

A marketing plan focuses exclusively on marketing strategies and activities, while a business plan covers the entire operation of the organization, including financial forecasts, management structure, and operational plans.

How Do Marketing Strategy and Marketing Plan Differ?

A marketing strategy is a long-term blueprint that outlines the overall marketing direction and goals. In contrast, a marketing plan is a detailed guide on how to achieve those goals through specific steps and actions.

What Are the 7 P's of a Marketing Plan?

The 7 P's of a marketing plan refer to Product, Price, Place, Promotion, People, Process, and Physical Evidence. These elements work together to form a comprehensive strategy that addresses various aspects of marketing, from product design to promotion to delivery.

How Do You Create a Comprehensive Marketing Plan?

Creating a comprehensive marketing plan involves several vital steps, such as conducting a situation analysis, determining the target market, defining goals and objectives, developing strategies and tactics, deciding on the budget, implementing the plan, and monitoring and updating as needed.

What Types of Marketing Plans Are There?

There are various types of marketing plans to cater to different business needs, such as Content Marketing Plan, New Product Launch Marketing Plan, Time-Based Marketing Plan, Growth Marketing Plan, Email Marketing Plan, and Social Media Marketing Plan. Each type has its unique focus and requires a specific approach.

Why Is Understanding the Target Market Important in Writing a Marketing Plan?

Understanding the target market is crucial in crafting a marketing plan as it allows the business to create strategies that speak directly to the people most likely to buy the product or service. It involves knowing what the target audience wants, needs, and the problems they are trying to solve.

How Do You Determine the Budget and Resources Needed for a Marketing Plan?

Determining the budget and resources involves analyzing what will be needed in terms of money, time, personnel, and other resources to execute the marketing plan successfully. This step ensures that the plan is realistic and can be carried out as intended.

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What Is a Marketing Plan?

Understanding marketing plans, how to write a marketing plan, marketing plan vs. business plan.

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What Is a Marketing Plan? Types and How to Write One

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A marketing plan is an operational document that outlines an advertising strategy that an organization will implement to generate leads and reach its target market . It details the outreach and PR campaigns to be undertaken and for how long, as well as the ways in which the company will measure the effect of these initiatives. It reflects a company’s overall marketing strategy.

Key Takeaways

• The marketing plan details the strategy that a company will use to market its products to customers.
• The plan identifies the target market, value proposition of the brand or product, campaigns to be initiated, and metrics to be used to assess the effectiveness of marketing initiatives.
• The marketing plan should be adjusted on an ongoing basis based on which efforts are having an impact and which are not.
• Digital marketing shows results almost in real time, whereas TV ads require rotation to realize any level of market penetration.
• A marketing plan is part of a business plan, which describes all of the important aspects of a business, such as its goals, values, mission statement, budget, and strategies.

The terms “marketing plan” and “marketing strategy” are often used interchangeably because the former is developed based on an overarching strategic framework. In some cases the strategy and the plan may be incorporated into one document, particularly for smaller companies that may only run one or two major campaigns in a year. The plan outlines marketing activities on a monthly, a quarterly, or an annual basis, while the strategy delineates the overall  value proposition .

The components of a marketing plan include:

• Market research – This provides information to support pricing decisions and new market entries.
• Tailored messaging – This involves targeting certain demographics and geographic areas and can include the use of affiliate marketing with third-party publishers who bring customers to the table.
• Platform selection – This looks at the best vehicles for disseminating product information for each advertising campaign: traditional venues such as radio, TV, newspapers, and commercial and trade magazines; digital methods such as websites, online ads, search engine results, informational videos, social media groups (Facebook, YouTube, etc.), email, and text messages; or any mix of these platforms.
• Performance metrics – Metrics accurately assess the results of marketing efforts and their reporting timelines and are crucial to the success of the plan.

The four most important social media networks in 2023 for global marketers were, in descending order, Facebook, Instagram, YouTube, and TikTok.

Types of Marketing Plans

There are a variety of marketing plans that suit different businesses and their needs. These include:

• Product Launch – A product-launch marketing plan outlines how a new product will enter the market, the audience it will target, and the advertising methods used.
• Social Media – A social media marketing plan focuses on the advertising strategies on different social media platforms and how to engage with their users.
• Time Based – Time-based marketing plans, such as those that are executed quarterly or annually, focus on the time of the year, the current condition of the business, and the best strategies in that period.
• Content Based – A content-based marketing plan looks in detail at what kinds of content (blogs, videos, graphics, etc.) will reach the target audience.
• Search Engine Optimization (SEO) – An SEO marketing plan is all about getting the most hits online. It involves keyword research, content optimization, link building, and more, all with the goal of drawing customers to your website.

Mission and Value Proposition

The mission and value proposition is a statement that articulates the value that a product or brand will deliver to a customer. It should appear front and center on the company website and any branding materials.

The value proposition should delineate how a product or brand solves the customer’s problem, the benefits of the product or brand, and why the customer should buy from this company and not another. The marketing plan is based on it.

Set Key Performance Indicators (KPIs)

Establishing your key performance indicators (KPIs) will allow you to measure the success of your marketing plan in relation to your company’s value proposition. In other words, they track the effectiveness of your marketing strategy. For example, if your goal is to engage with a certain demographic in a certain region, you can track social media impressions and website visits.

There are a number of KPIs that help you measure success including the search engine ranking, click-through rate, cost per click, return on investment (ROI), and conversion rates, which tracks the percentages of visitors to your website that make a specific action such as buying a product or becoming a newsletter subscriber.

In 2023, Facebook and Instagram were tied for having the highest ROI across social media platforms for global marketers, while YouTube fell next in line.

Identify Your Target Market

The marketing plan identifies the target market for a product or brand. Market research is often the basis for a target market and marketing channel decisions. For example, whether the company will advertise via social media, online ads, or regional TV. 

Knowing to whom you want to sell and why is an extremely critical component of any business plan. It allows you to focus your business and measure its success. Different demographics have different tastes and needs; knowing your target market will help you market to them.

Strategy and Execution

The marketing plan includes the rationale for these decisions. The plan should focus on the creation, timing, scheduling, and placement of specific campaigns and include the metrics that will measure the outcomes of your marketing efforts. For example, will you advertise on social media or TV? What time will you schedule your marketing if they are through email newsletters? The strategy may include flighting scheduling , which includes the times when you can make the most of your advertising dollars.

Set Your Budget

A marketing plan costs money. Setting a budget will allow you to create a workable plan, prevent runaway costs, and properly allocate your funds.

Adjust Your Plan

A marketing plan can be adjusted at any point based on the results from its metrics. If digital ads are performing better than expected, for example, the budget for a campaign can be adjusted to fund a higher-performing platform, or the company can initiate a new budget. The challenge for marketing leaders is to ensure that every platform has sufficient time to show results.

Without the correct metrics to assess the impact of outreach and marketing efforts, an organization will not know which campaigns to repeat and which to drop. In short, maintaining ineffective initiatives wastes money.

Digital marketing shows results almost immediately, whereas TV ads require rotation to realize any level of market penetration. In the traditional marketing mix model, a marketing plan would fall under the category of “promotion,” which is one of the “ four Ps ,” a term coined by Neil Borden to describe the marketing mix of product, price, promotion, and place.

A business plan is a roadmap that details how a business will operate and function in its entirety. It should cover the goals, missions , values, financials, and strategies that the business will use in day-to-day operations and the achievement of its objectives. Among its many elements are an executive summary, the products and services sold, a marketing analysis, a marketing strategy, financial planning, and a budget .

As mentioned, a business plan should include a marketing plan, which focuses on creating a strategy for creating awareness of the company’s product or service, reaching the target market, and generating sales.

Example of a Marketing Plan

Consider the following marketing plan framework that is designed to help direct marketing objectives:

• Executive Summary: Describes company mission, key executives, and where it is headquartered.
• SWOT Analysis: Describes strengths, weaknesses, opportunities, and threats for the company. This helps you define how to build on your strengths and how to find ways to improve on your weaknesses. It also helps a company analyze their competitors and how they may achieve an advantage based on their unique value proposition.
• Business Initiatives: Outlines the goals of the marketing plan, such as the number of impressions, Google rankings, or email subscribers.
• Customer Analysis: Describes your target market and audience characteristics based on market research. These may include age, pain points, and location, among other variables.
• Competitor Analysis: Outlines the companies providing similar goods or services to your target audience. In addition, it describes their strengths, market share, pricing structure, and most importantly where your company can fill an important gap.

What Is a Marketing Plan Template?

A marketing plan template is a guide for writing a marketing plan. It contains all the important elements needed to create one, including its goals and KPIs, marketing channels, budget, content type, teams involved, and design.

What Is an Executive Summary in a Marketing Plan?

The executive summary is a nutshell description of the marketing plan. It should contain the key findings of the market research, the company’s objectives and marketing goals, an overview of the marketing trends, the description of the product or service being marketed, information on the target market, and the plan budget.

What Is a Top-Down Marketing Strategy?

A top-down marketing strategy is a traditional one, in which a business decides how best to sell its product or brand, and customers are then spurred to take action through advertisements, generally found on radio and/or television. It is usually determined by company executives, which is then communicated with management to delegate to employees. These employees then develop tactics to meet the strategy's objectives.

What Is a Bottom-Up Marketing Strategy?

In comparison to a traditional top-down marketing strategy, a bottom-up strategy begins with employees who formulate marketing tactics based on their analysis of customer preferences and needs. This then may lead to collaboration with other employees to develop a concrete marketing plan, which is sent to executives for review.

Today’s consumer wants to relate to a product or service in a meaningful way, and a bottom-up marketing strategy seeks to achieve this through customer-centric tactics.

How Much Does a Marketing Plan Cost?

The cost of a marketing plan will vary based on the company, the plan’s complexity, and the length of the overall strategy. In 2023, marketing costs made up 10.1% of corporate revenues on average. The consumer packaged goods sector spent the most, at 18.5% of revenues while the mining and construction sector spent the least, at 1% of revenues.

A separate analysis shows that the cost can range anywhere from $10,000 to over $40,000 for a marketing plan.

A marketing plan is the advertising strategy that a business implements to sell its product or service. It determines the target market, how best to reach it, at what price point the product or service should be sold, and how the company will measure its efforts.

Constantly monitoring and adjusting a market plan is an important part of running a business, as it shows the most effective ways to generate sales. As the consumer landscape evolves, it is important for businesses to adapt in order to meet customer needs and better achieve their marketing objectives.

Statista. " Marketing Worldwide – Statistics and Facts ."

American Marketing Association. " What Is a Marketing Plan and How to Write One? [Easy Guide] ."

HubSpot. " The 2024 State of Marketing & Trends Report: Data from 1400+ Global Marketers ."

Deloitte. " The CMO Survey: Managing Marketing Technology, Growth and Sustainability ." Page 16.

Laire. " How Much Does a Marketing Plan Cost? "

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How to Write a Marketing Plan

From ads on TV and YouTube, to billboards, to product placement, and so much more, we are surrounded by marketing. Marketing has rapidly developed over the past few decades to the point where it has now become one of the most important elements of doing business. With so much competition and so many different styles of marketing, it's not just enough to understand the benefits of your product or service, understanding the people you want to sell to and finding the right ways of reaching them is critical. 

In this article, you will learn how to build a marketing plan including all the marketing plan steps,  some bonus tips, a marketing plan outline, and an in-depth look into the various sections.            

What is a marketing plan?

A marketing plan definition could be a well-researched and comprehensive document that analyzes the market, identifies opportunities, presents a marketing strategy, and outlines the execution for a product or service. A marketing plan is crucial, especially in today's world where specific objectives must be met. A good marketing plan does the following:

• Identifies the correct target market or target population
• Sets goals and measurable objectives for specific marketing strategies
• Improves market share by converting new customers and retaining current ones
• Clarifies your specific marketing strategies
• Presents a marketing budget 

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How to create a marketing plan

Marketing plans can differ based on the industry, specific requirements of the products or services, a focus on traditional or digital marketing, duration of Implementation of the marketing plan, etc. But when creating a marketing plan, you can always follow this general marketing plan template. 

Step 1. How to write an executive summary for a marketing plan

An executive summary is a brief paragraph at the beginning of your marketing plan that outlines the key elements of the plan overall. This includes your target market, the main goals of the marketing plan, as well as a quick description of the marketing strategy. While an executive summary is usually the first thing in a marketing plan, it is beneficial to write the executive summary after you have written the plan in full so that you can correctly identify the main elements of it. 

Step 2. Carry out market research

Market research is essential to understand the opportunities that you want to take advantage of.  There are a few types of market research; primary market research and secondary market research. Primary market research is things like focus groups, interviews, and surveys.  Secondary market research is information gathered from sources like articles, journals, and other qualitative research that gives an insight into consumer behavior or the market itself. Qualitative research is more useful for understanding consumer behavior through things like interviews, whereas quantitative research uses data and numbers, things like response rates, social media engagement numbers, etc. Good market research is essential because it helps devise the right marketing strategy for a specific target audience. 

Step 3. Define your market and customer profiles

Your market research should help you identify the specific type of market and customers you want to target. When defining your market think about the following things:

• What are the social factors that are pertinent to your marketing plan? This can include things like changing attitudes regarding the environment, social media trends to take advantage of, etc. 
• What are the technological factors that are pertinent to your marketing plan? Are there advances in technology that you want to take advantage of? 
• What are the economic factors that are pertinent to your marketing plan? Are there changes in interest rates, inflation, monetary supply, etc?
• What are the environmental factors that are pertinent to your marketing plan? How are changes in consumer expectations about the environment and policy changes within the government important?
• What are the political factors that are pertinent to your marketing plan? This can include things like subsidies, new government regulations, etc.
• What are the legal factors that are pertinent to your marketing plan? This can include things like changes in employment laws, unions, and subsidies. 
• What are the ethical factors that are pertinent to your marketing plan? This can include things like changing ethical standards and corporate social responsibility. 

When thinking about how to make a marketing plan, defining your target audience is vital. So think about the following things about the audience:

• What ages are you targeting?
• How much disposable income do they have?
• What is their level of education?
• What is their marital status?
• What are their interests and hobbies?
• How much money do they spend doing a specific activity?

Step 4. Conduct a SWOT analysis

A SWOT analysis looks at the strengths, weaknesses, opportunities, and threats in the industry. A SWOT analysis can help you understand what your unique advantages are as well as identify potential dangers so that you can devise strategies to overcome them making it one of the best marketing plan ideas to incorporate.

Strengths refer to the unique advantages that your product or service offers. This can be due to a variety of reasons like access to certain materials, advanced manufacturing capabilities, or emphasis on human resources and training, etc. By identifying your USP (unique selling proposition) you can understand what to focus on in your marketing strategy.

Weaknesses refer to the inherent disadvantages of your product, service, or company. Nothing is perfect, and being honest about your weaknesses allows you to devise strategies to minimize or overcome them. Tip - Trying to see things from the perspective of competitors or customers is helpful in identifying weaknesses.

In a marketing plan, opportunities are the possibilities that you want to take advantage of. This is based on market research and identifying new potential markets and audiences. Changes in regulations, market expectations, consumer behavior, etc. can all present opportunities that your product or service is uniquely positioned to take advantage of.

Identifying threats is important because it allows you to plan how to tackle them. The same things that can be opportunities can also be threats like changes in laws and regulations,  improving technological standards, changes in the supply chain, etc. If you are better prepared to handle potential threats than your competitors then you have an excellent strategic marketing plan. 

Step 5. Study the competition

Understanding what the competition is doing, what works well for them, and what doesn't work is a key part of market planning. After all, these competitors have similar products or services and face similar challenges to you. Here are some of the things you should look into when you study the competition:

• How is their product or service different from yours?
• Do they target a slightly different consumer profile?
• How do they position themselves in the market?
• What are the sales strategies that work for them?
• What are the marketing strategies that work for them?

Step 6. Set your goals and objectives

A marketing plan has to clearly set goals and objectives otherwise there is no concrete way of tracking whether the plan is effective and needs to adapt or not. A commonly used framework for setting goals and objectives is SMART, which stands for specific, measurable, achievable, realistic, and time-bound goals.  

Specific means having a concrete goal such as improving sales by 10%

Measurable means that there has to be some way of tracking the effectiveness of the marketing strategy

Achievable means that a goal should be able to be realized with the resources at hand

Realistic means that a goal should not be so high that it demotivates people

Time-bound means that there must be a time by which results can be expected

It is also useful to think about KPIs (key performance indicators) when thinking about how to write a marketing plan. These are measurable values that can be used to set goals and objectives. Some important KPIs are. 

• Click-through rate
• Cost per lead
• Retention rates
• Sales revenue 
• New customers 
• Organic site traffic 
• Number of press mentions 

Step 7. Outline your marketing strategy plan

Based on all the research you have done, what are the strategies you think will impact the target audience in a way that will help you achieve your goals? When coming up with a marketing strategy you have to show an understanding of both the market, your product or service, as well as the target audience. Marketing strategies can be influenced by several factors, so think about as many of them as possible. For example, it may be true that young people interact more with social media, but there may be specific social media channels that are watched by stay-at-home mothers that are worth looking into. Keep in mind that every decision you make when coming up with a marketing strategy needs to be defended by your market research.  

Step 8. Set your marketing budget

A marketing budget is a key part of the marketing plan. You will have to justify any expenses that you make by stating exactly how they will impact your target audience. Even a marketing strategy that relies heavily on free avenues like word of mouth and organic growth may have some hidden costs. A tight marketing budget may look good but It is essential to budget enough money for specific activities. A marketing budget may change and evolve over time based on how effective different strategies are, so don't be afraid to clearly state your requirements.

Step 9. Keep your marketing plan up-to-date

You can include a brief conclusion at the end of your marketing plan that states the key factors,  but it isn't always necessary because it is essentially the same as the executive summary. One thing to keep in mind though is that a marketing plan is just a guide and not something that is set in stone. As you implement your plans you may discover new information that will require adaptation. It is also important to revisit your marketing plan regularly to both check that you are achieving targets as well as updating it based on new opportunities and threats.

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Tips for writing a marketing plan

If you follow the steps above you'll end up with a working marketing plan but here are some bonus tips on how to develop a marketing plan.

Set clear, realistic, and measurable targets

Clear targets leave no room for discussion, they are easily understood, and the path to achieving them is clear. 

Realistic targets challenge a company and motivate people to work hard, easy targets aren’t good for competition, and over-ambitious targets can lead to demotivation.  

Measurable targets are important because there needs to be a way to see the benefits of a marketing plan.  

All of these together are useful in showing the progress of a marketing strategy as well as defending the cost of a strategy.

Include deadlines for meeting targets

Each and every target should have a specific deadline to keep people on track. This doesn't just refer to KPIs but for each activity beforehand as well. For example, set deadlines for things as specific as to when a new logo should be done, when budgets are due, and when social media content needs to be designed, received, uploaded.

Provide a budget for each marketing activity

It’s often the case that not every marketing activity in a marketing plan will receive the go-ahead from higher-ups in a company. By providing a budget for each specific marketing activity, you make it easier for them to pick and choose which marketing activities to pursue rather than them canceling the entire marketing plan.

Specify who is responsible for each activity

When thinking of how to create a marketing plan, make a specific person responsible for each activity. This makes it so that people are accountable for specific tasks and there is a lower chance of miscommunication in the future.

Make sure you think through each of your objectives logically

It may be nice to set objectives based on what you would like to achieve, but each objective needs to be logical as well as realistic. Think through each objective and pretend to defend it against somebody who is questioning the objective. This is essentially what will happen when you present a marketing plan to your company.  

Whether you are looking for answers on how to write a digital marketing plan, how to write a marketing plan example, or how to write a strategic marketing plan, this article should have given you all the information you need to make a strategic market plan of any sort. As long as you remember the key components of a marketing plan and defend your conclusions with logic and research, you will be alright.

A marketing plan can be a relatively simple document or can be incredibly complicated, so if you need any help, then don't hesitate to reach out to the experts at Studyfy. They offer a range of academic writing services, including sociology essay writing service , argumentative essay writing service , write my narrative essay , and pay for an essay .

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Don't hesitate to reach out to them for any writing or academic support you may need!

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