How to write a marketing plan

Business is a means of earning money that is very appealing to many people. Running a business or working for one often puts people at the front line of exciting innovations in technology, food, toys the list goes on. It allows you to enter a world where your hard work pays off not just in terms of monetary gains but a sense of pride in your work. People don’t work in business for those reasons alone of course – some work in business because they want to build up something for their children, other because they want to understand something about the way the world works. Yet, regardless of your reason for being interested in business and the financial market, one thing is for sure. It is important to know how to write a marketing plan. Marketing plans are a vital element of any businesses success and it will ensure your business does well if you have one. If you don’t know how to write one, however, then don’t worry this article will show you exactly how to write it.

 

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Researching the market, you want to advertise in is crucial. Knowledge is power and without the knowledge of how best to approach the market you are working in, then you are not likely to succeed in that area. It is wise, not only to think in terms of traditional research but to think outside of the box. Rather than simply examine information such as the amount of people who buy a certain item or live in a particular area, look for how many people engage with the product on social media, how many use Youtube or other platforms to express their opinion on a product and how this may influence other.

Look at what sort of social media footprint the product has – is it well known and if so what is the image that is has? If there is limited social media exposure, how does this effect the product? Does it mean that there are less people engaged with the product and the brand overall or does limited social media interaction not matter impact on this brand as much as you might think it does? These are all areas which people fail to consider when researching their marketing plan and it is important that you do not leave any stone or area unturned during your research because your research will allow you to find out what type of marketing plan you want and how best to implement it – without the ability to use your research as a guide to the state of the landscape for your product and how best to interact with that product.

This also means examining what your competitors are doing in this particular field. No matter the field, there will be another company or outlet who is offering as similar product or service that could draw away custom from your company. By examining your competition, this will also allow you to understand what potential weaknesses they may be exploiting from your product and the potential weaknesses that you could take advantage that are present in your product. This doesn’t mean that you should simply try and copy your competition; it means that you need to understand both the fundamental flaws in your platform and theirs so that you can properly understand how you can be the best at what you do.

It may also be wise to do SWOT analysis as well as looking at the flaws of yourself and your prospective rivals. Both examining the strengths, weaknesses, opportunities and threats to your business and other businesses in the field you will have a concrete idea as to the ways in which you can capitalise on your strengths, improve upon your weaknesses, exploit your opportunities and ensure that you aren’t too worried about prospective threats. This will allow you to ensure that your marketing plan has the strength that it needs to succeed.

Another way to conduct research is to conduct your own research. This means that you create conditions for an experiment and then record the findings of the experiment. This is typically something like a focus group, which will allow you to understand, first hand what the experience of average consumers is of your product and what they would feel about any potential marketing plan involving it or changes to the brand. This will give you some solid information as to how individuals respond to the proposed plan and allow you to change it is in any way if you have to.

This type of research may seem costly and time consuming, but they will pay off in the results you will get from the particular individuals and the data that they will be provided which will help to influence your marketing work and to ensure that it is as successful as it can possibly be. It may also be wise, dependent on time and costing, to conduct some one to one questioning alongside your focus group activity. As focus groups will generally involve a mix of people, you may not be able to get the in-depth information that you require from your participants and this is why one to one questioning may help to give you more detailed information which you can then use as part of your marketing plan. As much information about potential customers and how they would respond to any change in your product is important to factor into your potential marketing plan as without it your data may be incomplete, and your plan may not have the same accuracy and appeal that it might otherwise have. This is why thorough research into the area you will be producing your marketing plan is so important – it allows you to ensure that your plan will be more likely to succeed.

When creating a marketing plan, it is important to think about the structure of your plan. Structuring your plan effectively and efficiently will ensure that you are more likely to succeed than if you simply attempt to go into the market place with no plan whatsoever. A rigid structure also means that it will allow you to keep on point consistently and make sure that you don’t stray into areas that you don’t want to or fail to reach the goals that you need to ensure that your plan is a success. There are certain elements that will ensure that your plan is properly structure that we shall now discuss.

  • Know your goal. Knowing the central goal for your marketing campaign is crucial as it will be the core of what you need to do with your campaign. Your goal should be one you can describe simply and easily to anyone who asks you. You should keep this goal in mind throughout the creation of your plan and when you are enacting it. If your goal is unclear to you then it is likely going to be unclear to the general public and, as such, mean that your plan is more likely to not go as you planned. Consistency should be your watch word and this can easily be achieved by hammering home what your goal is and making sure that everyone, from those involved in the planning of the campaign to the public who will see it, know exactly what you are trying to do and what you hope to achieve with your marketing plan. This will ensure that when you come to enact your plan it will be as straightforward as possible.
  • Use anything you can. By using anything you can, this means that you should use all the elements at your disposal. This doesn’t just mean sending out leaflets or putting adverts on the television. This means using social media, interacting with the public on a basic level and trying to support worthy causes which will help to get your brands name into the press as much as possible. To be effective you need to use any trick that you can to promote your product, to help make it stand out you from the competition and to ensure that people buy it.
  • Start Early. When once asked as to why he was successful in politics, then Senator John F Kennedy responded it was because he started early. Starting Early is an important and crucial part of any marketing plan that many individuals fail to realise. By ensuring that you are ahead of the competition at all times, you are able to ensure you set the narrative, you gain the attention from the public and you can sell your product easier and more effectively than your competition. By failing to consider timing, your marketing plan could become less effective. If you tried, for instance, to launch a new soft drink during the winter you wouldn’t get the same exposure or sales as you would during the summer months. Knowing that you need to not only be consistent but that you need to be strong in your determination to get ahead of your rivals will ensure that you can get your product into the public consciousness as soon as possible and with the strongest and most convincing argument that you possible can. This will allow your product or service to dominate the market and ensure that you will make the most of your brand.

Now it is time to think of the execution of the marketing plan. Once you have researched the areas that will be of the most use to your plan, considered all the elements that could go wrong and formulated the perfect campaign to get your product as noticed as possible it is time to put it into effect. When doing your plan you have to remember that you should never be afraid to deviate from it if necessary. There can be all sorts of circumstances that could cause you to change your plan and it is wise to consider them when making it, to ensure that you are not overtly put off by having to change it in some way.

One of the most important things to think about when enacting a marketing plan is to consider how it will end. The ending of your plan is as important as the creation of it in the first place. You must think about the best possible outcome of the plan and consider how you can build on its success to ensure that your brand or service continues to gain from it even after it has finished.

Hopefully this article will have informed you how to write a marketing plan and you will have no trouble enacting it. However, if you still have some concerns then why not contact us?

Our trained writers provide services which cannot be matched and ensure the highest quality work for any project you may desire. These include essay writing, CVs, cover letters, marketing plans and much more. So why not contact us today and see how we can help you.

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