Lesson 5.2 - Components
of an Effective Marketing Plan
The Marketing Plan
LESSON 5.2
Key components of an effective
marketing plan:
1) Mission Statement
2) Executive Summary
3) Situation or S.W.O.T. Analysis
4) Marketing Goals / Objectives
5) Market Research / Marketing Strategies
6) Implementation
7) Evaluation and Control
The Marketing Plan
LESSON 5.2
Key components of an effective
marketing plan (could also include):
1) Table of contents
2) Problem identification statement
3) Communication and/or publicity plan
The Marketing Plan
The Mission Statement
The Marketing Plan
LESSON 5.2
The Executive Summary
Executive Summary:
Provides an overview of
the complete plan
The executive summary
highlights key
information within the
document
The Situation Analysis
The SITUATION ANALYSIS: (also referred to
as SWOT) provides information that is helpful in
matching the organization’s resources and
capabilities t the competitive environment
The Marketing Plan
LESSON 5.2
The Situation (S.W.O.T.) Analysis
S
Strengths
W
Weaknesses
O
Opportunities
T
Threats
The Marketing Plan
LESSON 5.2
Marketing Goals & Objectives
Why are goals and objectives important?
Goals and objectives identify what the
company hopes to achieve with the
marketing plan and a timeline for
which the plan is to be carried out
The Marketing Plan
LESSON 5.2
Marketing Goals & Objectives
Effective objectives follow the S.M.A.R.T criteria
Specific
Measurable
Action-oriented
Realistic
Time bound
The Marketing Plan
LESSON 5.2
Market research / Marketing strategies
1) Defining a specific marketing approach intending
to create segmentation and positioning objectives
with the goal of influencing consumer purchase
decisions
2) Plan should include any relevant market research
to help support strategy and implementation
decisions
3) Developing a strategy includes the process of
designing an initial marketing strategy for a new
product based on the product concept
The Marketing Plan
LESSON 5.2
Implementation
Implementation refers to the
process of putting the marketing plan
into action
The Marketing Plan
LESSON 5.2
Evaluation and Control
The evaluation phase determines
whether the plan achieved the desired
results
The controlling process refers to the
adjustments required to achieve desired
results where initial efforts did not
already succeed
LESSON 5.2 REVIEW (ANSWERS)
The Marketing
Plan
1) Identify the key components of the
marketing plan
1- Mission Statement
2- Executive Summary
3- Situation or S.W.O.T. Analysis
4- Marketing Goals / Objectives
5- Marketing Strategies
6- Implementation
7- Evaluation and Control
(Could also include a Table of Contents, Problem ID
statement or communications/publicity plan)