STRATEGIC MARKETING PLAN
While a business plan is the analysis of all resources to achieve the strategic objective of the company, a marketing plan is designed to acquire and retain customers.
When is a strategic marketing plan desirable?
- When sales are below forecast
- When marketing spend is not achieving sales goals
- When people have trouble generating leads
- When you need a marketing action plan that is aligned with your business goals
- When you want to allocate your scarce resources the best way possible
- When you want to think through important marketing questions related to your business so that you can make clear decision making
- When you really want to know and understand your customer better than your competition
- When you want to align your long term planning and your short term implementation
- When you want a marketing plan that helps you avoid panic decisions
- When you need to engage with your employees productively
A quality marketing plan starts with a dispassionate situational analysis, quantifies the target market, selects the preferred marketing strategy, sets the objectives and tactics, and develops the sales and budget. There are many potential benefits of disciplined analysis and decision-making. As the saying goes, if you don’t know where you are going, how are you going to get there?