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Developing a Concise Marketing Plan

Part of the Complete MBA For Dummies Cheat Sheet

Your marketing plan can be an elaborate 50-page business plan or a simple paragraph. In fact, many professional marketers suggest the simple one-paragraph plan because it's focused and identifies the key components. A productive one-paragraph marketing plan has the following elements:

  • Purpose: What's the marketing plan supposed to accomplish?

  • Benefits: How will your products and services satisfy the needs of the customer?

  • Customer: Who's your primary customer, and what's your strategy for building long-term relationships with that customer?

  • Company image: How will the customer see your company? Remember, customers will contribute to positioning your company in the marketplace.

  • Niche: What's the niche in the market that your company has defined and will serve?

  • Tactics: What specific marketing tools will you use to reach customers? You can utilize advertising, promotion, a Web site, publicity, and so on.

  • Budget: How much of your budget will you allocate to this effort?

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