• Document: As a student, you likely plan out much
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APPEN DIX Writing a Marketing Plan 2A Have a plan. Follow the plan, and you’ll be surprised how successful you can be. Most people don’t have a plan. That’s why it’s easy to beat most folks. —Paul “Bear” Bryant, football coach, University of Alabama WHY WRITE A MARKETING PLAN?1 A s a student, you likely plan out much for the firm, marketing objectives and strategy in your life—where to meet for din- specified in terms of the four Ps, action programs, ner, how much time to spend study- and projected or pro forma income (and other ing for exams, which courses to take financial) statements—enables marketing per- next semester, how to get home for winter break, sonnel and the firm as a whole to understand and so on. Plans enable us to figure out where we their own actions, the market in which they want to go and how we might get there. operate, their future direction, and the means to For a firm, the goal is not much differ- obtain support for new initiatives.2 ent. Any company that wants to succeed (which Because these elements—internal activ- means any firm whatsoever) needs to plan for ities, external environments, goals, and forms a variety of contingencies, and marketing repre- of support—differ for every firm, the marketing sents one of the most significant. A marketing plan is different for each firm as well. However, plan—which we defined in Chapter 2 as a written several guidelines apply to marketing plans in document composed of an analysis of the current general; this Appendix summarizes those points marketing situation, opportunities and threats and offers an annotated example. 63 gre28833_c2a_062_081.indd 63 9/23/10 10:27 AM 64 Section One Assessing the Marketplace MARKETING PLAN VERSUS BUSINESS PLAN Of course, firms consider more than marketing when they make plans and there- fore commonly develop business plans as well. Yet as this book highlights, mar- keting constitutes such an important element of business that business plans and marketing plans coincide in many ways.3 Both marketing and business plans gen- erally encompass 1. Executive summary. 2. Company overview. 3. Objectives or goals, usually according to strategic plan and focus. 4. Situation analysis. 5. Market/product/customer analysis. 6. Marketing strategy. 7. Financial projections. 8. Implementation plan. 9. Evaluation and control metrics. However, a business plan also includes details about R&D and operations, and both may feature details about other key topics, depending on the focus of the company and the plan. STRUCTURE OF A MARKETING PLAN This section briefly describes each of the elements of a marketing plan.4 Executive Summary The executive summary essentially tells the reader why he or she is reading this marketing plan—what changes require consideration, what new products need discussion, and so forth—and suggests possible actions to take in response to the information the plan contains. Company Overview In this section, the plan provides a brief description of the company, including perhaps its mission sta

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