How to structure an effective marketing plan
What are the essential parts of a marketing plan template?
A marketing plan is a strategic document that specifies your organization’s target markets, marketing objectives, programs and activities to achieve them, expected timescales, resources to be utilized, according to defined budgets, and how success will be measured.
What is the purpose of a marketing plan?
The purpose of a marketing plan is to define strategies to engage audiences in order to achieve business objectives.
The goal of a marketing plan is to ensure marketing activities are structured, relevant, and timely to achieve an organization’s objectives.
It’s a plan defining your company’s sustainable competitive position, structuring and setting marketing goals, and defining the resources necessary to achieve your business vision.
Structure an effective marketing plan with RACE
Context of a marketing plan
When to use a marketing plan?
- AÂ strategic marketing plan outlines the overall strategy within a market, connecting customers, competitors, and what the organization is capable of achieving. Â It is typically created at divisional or company level.
- An operational marketing plan outlines the marketing mix strategy that will be used to gain an advantage in the market.  It typically focuses on products; market segments and how marketing communications and campaigns achieve targets defined in the strategic marketing plan. It usually has separate sections covering tactics for customer acquisition and retention which will sometimes be covered in separate plans in larger organizations.