new consumer product relating to Rhode Island
As you read in Chapter 2, there is more than one correct format for a marketing plan. Many organizations have their own distinctive format or terminology for creating a marketing plan, and every marketing plan should be unique to the firm for which it was created. The format and order of presentation, therefore, must be flexible.
This appendix presents only one way to organize a marketing plan. The outline is meant to give you a more detailed look at what you need to include, topics you need to cover, and the types of questions you must answer in any marketing plan. But, depending on the product or service for which you are drafting a plan, this set of questions may only be the starting point for more industry-specific issues you need to address.
An actual marketing plan from E-motion Software follows this outline. The E-motion marketing plan includes annotations that tie each part of the plan to the material throughout the book. You’ll see the correlation between chapter concepts and the elements of a professional marketing plan for a real company.
If you are assigned a marketing plan as a course requirement, this appendix can help you organize your work. In addition, worksheets that guide you through the process of marketing planning are available on your textbook’s companion site. The worksheets can be completed electronically or printed out and filled in by hand.
I BUSINESS MISSION
What is the mission of the firm? What business is it in? How well is its mission understood throughout the organization? Five years from now, what business does it wish to be in?
Does the firm define its business in terms of benefits its customers want rather than in terms of goods and services?
II SITUATION ANALYSIS (SWOT ANALYSIS)
Has one or more competitive advantages been identified in the SWOT analysis?
Are these advantages sustainable against the competition?
A. Internal Strengths and Weaknesses
What is the history of the firm, including sales, profits, and organizational philosophies?
What is the nature of the firm and its current situation?
What are the firm’s resources (financial, human, time, experience, asset, skill)?
What policies inhibit the achievement of the firm’s objectives with respect to organization, resource allocation, operations, hiring, training, and so on?
B. External Opportunities and Threats
Social: What major social and lifestyle trends will have an impact on the firm? What action has the firm been taking in response to these trends?
Demographics: What impact will forecasted trends in the size, age, profile, and distribution of population have on the firm? How will the changing nature of the family, the increase in the proportion of women in the workforce, and changes in the ethnic composition of the population affect the firm? What action has the firm taken in response to these developments and trends? Has the firm reevaluated its traditional products and