Marketing plan

5 Ingredients of Good Marketing Plan

Every marketing plan needs certain attributes to be called a good marketing plan. An effective marketing plan needs to meet a specific set of qualities, to be capable to do what it is meant to do – that is to convert prospects into customers. In fact, it isn’t very difficult to differentiate a potentially successful plan from an average plan. We bring to you a list of five such qualities that are required to create a good marketing plan that will improve the market share and brand image. Read along:

(1) The first point on the list would be to focus on the market. You should be able to narrow down your target audience – not just a rough identification, but the target audience should be properly defined. You can’t impress or please the entire market. Your product is suited to a certain section of the market, and it is more profitable to focus on just them in order to be more productive. All other things will be planned according to your target audience. Divide and conquer.

(2) The next aspect you need to pay attention to is the product. For example, let us consider a fashion brand that sells apparels for women. If this company is planning on launching a product for women in their 40s, then it should be able to give them exactly what they require.

(3) Everything that you present should be measurable – mentioned in quantified figures. Every detail is to be mentioned along with a proper timeline. A good marketing plan works on strategies that driven on proper statistical data and numbers. It provides more credibility to your plan. “High quality” goals make no sense unless you have proper figures that will describe them. It is better to set quantified standards rather than giving out vague objectives. Your short-term and long-term plans should be connected.

(4) Again, it is very vague to give away a big task to a group of people. Instead it would be much better if you assign each individual wit specific tasks in order to avoid confusion and improve overall productivity. Set deadlines for each task. In order to come up with a good marketing plan, every member should be involved and committed.

(5) Coming with a plan doesn’t end your job right there. The important part is to revise the plan, review it and make appropriate changes. The entire marketing team needs to sit together and do a comprehensive evaluation of the plan before finalizing it.

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