Internationally, you must
also be aware of the economic, cultural, legal and government issues within each country that you are
investing marketing funds. Finally, it is important to cover how the brand uses segmentation, targeting
and positioning in its marketing effort.Another approach to this project would be to select a region of the world that the company wants to
penetrate and do an analysis on this portion. For example, select the Latin American or European region
and evaluate the key potentials for a market entry.The paper should be no less
than 10 pages typewritten with a bibliography-MLA format. | Times New Roman | 12 | ———– DO NOT CHEAT ——————— DO NOT CHEAT ——————— DO NOT CHEAT ———————
marketing_plan_template.docx
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Marketing Plan Template: Adjust it for
international (economics; culture;
government/political and legal)
environments
To grow your business, you need a marketing plan. The right marketing plan identifies
everything from 1) who your target customers are to 2) how you will reach them, to 3) how you
will retain your customers so they repeatedly buy from you. Done properly, your marketing plan
will be the roadmap you follow to get unlimited customers and dramatically improve the success
of your organization. To help you succeed, look below.
Section 1: Executive Summary
Complete your Executive Summary last, and, as the name implies, this section merely
summarizes each of the other sections of your marketing plan.
Your Executive Summary will be helpful in giving yourself and other constituents (e.g.,
employees, advisors, etc.) an overview of your plan. Consider current share of market; growth
rate; where do you sell (domestic vs international; consumer vs. industrial market channels);
Section 2: Target Customers
This section describes the customers you are targeting. It defines their demographic profile (e.g.,
age, gender), psychographic profile (e.g., their interests) and their precise wants and needs as
they relate to the products and/or services you offer.
Being able to more clearly identify your target customers will help you both pinpoint your
advertising (and get a higher return on investment) and better “speak the language” of
prospective customers.
Section 3: Competition
Understand who your competitors are along with their strengths and weaknesses. You should
also understand what products they have and what markets/segments they are marketing and
their share where they are marketing.
Section 4: Unique Selling Proposition (USP)
Having a strong unique selling proposition (USP) is of critical importance as it distinguishes
your company from competitors.
The hallmark of several great companies is their USP. For example, FedEx’s USP of “When it
absolutely, positively has to be there overnight” is well-known and resonates strongly with
customers who desire reliability and quick delivery.
Section 5: Pricing & Positioning Strategy
Your pricing and positioning strategy must be aligned. For example, if you want your company
to be known as the premier brand in your industry, having too low a price might dissuade
customers from purchasing.
In this section of your marketing plan, detail the positioning you desire and how your pricing
will support it.
Section 6: Distribution Plan
Your distribution plan details how customers will buy from you. For example, will customers
purchase directly from you on your website? Will they buy from distributors or other retailers?
And so on.
Think through different ways in which you might be able to reach customers and document them
in this section of your marketing plan.
Section 7: Your Offers
Offers are special deals you put together to secure more new customers and drive past customers
back to you.
Offers may include free trials, money-back guarantees, packages (e.g., combining different
products and/or services) and discount offers. While your business doesn’t necessarily require
offers, using them will generally cause your customer base to grow more rapidly.
Section 8: Marketing Materials
Your marketing materials are the collateral you use to promote your business to current and
prospective customers. Among others, they include your website, print brochures, business
cards, and catalogs.
Identify which marketing materials you have completed and which you need created or re-done
in this section of your plan.
Section 9: Promotions Strategy
The promotions section is one of the most important sections of your marketing plan and details
how you will reach new customers.
There are numerous promotional tactics, such as television ads, trade show marketing, press
releases, online advertising, and event marketing.
In this section of your marketing plan, consider each of these alternatives and decide which ones
will most effectively allow you to reach your target customers.
Section 10: Online Marketing Strategy
Like it or not, most customers go online these days to find and/or review new products and/or
services to purchase. As such, having the right online marketing strategy can help you secure
new customers and gain competitive advantage.
The four key components to your online marketing strategy are as follows:
1. Keyword Strategy: identify what keywords you would like to optimize your
website for.
2. Search Engine Optimization Strategy: document updates you will make to your
website so it shows up more prominently for your top keywords.
3. Paid Online Advertising Strategy: write down the online advertising programs
will you use to reach target customers.
4. Social Media Strategy: document how you will use social media websites to
attract customers.
Section 11: Conversion Strategy
Conversion strategies refer to the techniques you employ to turn prospective customers into
paying customers.
For example, improving your sales scripts can boost conversions. Likewise increasing your
social proof (e.g., showing testimonials of past clients who were satisfied with your company)
will nearly always boost conversions and sales.
In this section of your plan, document which conversion-boosting strategies you will use.
Section 12: Joint Ventures & Partnerships (Co-Marketing)
Joint ventures and partnerships are agreements you forge with other organizations to help reach
new customers or better monetize existing customers. For example, if you sold replacement
guitar strings, it could be quite lucrative to partner with a guitar manufacturer who had a list of
thousands of customers to whom it sold guitars (and who probably need replacement strings in
the future).
Think about what customers buy before, during and/or after they buy from your company. Many
of the companies who sell these products and/or services could be good partners. Document such
companies in this section of your marketing plan and then reach out to try to secure them.
Section 13: Referral Strategy
A strong customer referral program could revolutionize your success. For example, if every one
of your customers referred one new customer, your customer base would constantly grow.
However, rarely will you get such growth unless you have a formalized referral strategy. For
example, you need to determine when you will ask customers for referrals, what if anything you
will give them as a reward, etc. Think through the best referral strategy for your organization and
document it.
Section 14: Strategy for Increasing Transaction Prices
While your primary goal when conversing with prospective customers is often to secure the sale,
it is also important to pay attention to the transaction price.
The transaction price, or amount customers pay when they buy from you, can dictate your
success. For example, if your average customer transaction is $100 but your competitor’s
average customer transaction is $150, they will generate more revenues, and probably profits, per
customer. As a result, they will be able to outspend you on advertising, and continue to gain
market share at your expense.
In this section of your plan, think about ways to increase your transaction prices such as by
increasing prices, creating product or service bundles/packages, and so on.
Section 15: Retention Strategy
Too many organizations spend too much time and energy trying to secure new customers versus
investing in getting existing customers to buy more often.
By using retention strategies such as a monthly newsletter or customer loyalty program, you can
increase revenues and profits by getting customers to purchase from you more frequently over
time.
Identify and document ways you can better retain customers here.
Section 16: Financial Projections
The final part of your marketing plan is to create financial projections. In your projections,
include all the information documented in your marketing plan.
For example, include the promotional expenses you expect to incur and what your expected
results will be in terms of new customers, sales and profits. Likewise include your expected
results from your new retention strategy. And so on.
While your financial projections will never be 100% accurate, use them to identify which
promotional expenses and other strategies should give you the highest return on investment.
Also, by completing your financial projections, you will set goals (e.g., your goals for your
referral program) for which your company should strive.
Also, incorporate sales effort (direct sales or outside sales reps or distributors) as well as
Public Relations effort.
…
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