Marketing Plan Outline

Definition

The Marketing Plan is a document which is produced initially upon approval of a product business plan and is then updated yearly for the duration of the PLC. The intent of the Marketing Plan is to define how the Product Manager will position the product in the marketplace and ensure the success of the business plan.

Outline

The Marketing Plan contains the following sections:

Executive Summary

The Executive Summary is a one to three page synopsis of the Marketing Plan which will convey to the reader the current market situation as well as the objectives of the plan, the major programs being undertaken, and the anticipated financial results.

The Executive Summary should be considered to be the decision document which will be used by senior management to judge and approve or deny the plan. The essential criteria for the Executive Summary are brevity, clarity, focus, and completeness.

Situation Analysis

The intent of the Situation Analysis is to provide the reader with an understanding of the major factors, which affect the market in which the product is to be sold. Items which should be considered for inclusion are:

Market

• Current size and market shares of Siemens' and competitors' products
• Market growth potential and any major trends which may affect this growth
• Market attractiveness based on market maturity, growth, degree of competition, etc.

Pricing

• Current pricing levels and trends in the market with an explanation of causes of change
• Current and expected pricing trends for our product with and explanation of causes of change
• Regulator, legal and social climate

Customer Analysis – Segmentation

• Define the characteristics of each major customer segment that makes up the market
• The size of the segment in relation to the total market
• For each segment define purchasing characteristics, sources of supply, expected trends
• Discuss current customers, existing relationships, their current business environment
• Discuss target customers during the Plan period

Competitor Analysis

• Share Analysis
  • Market shares of Siemens and competitors in each product segment
  • Discuss changes in market share and related causes
  • Objectives for market share as a result of the Plan
    
• Company Analysis
  • For major competitors, identify strategy with respect to this market, e.g. penetration
  • Assess the ability of each company to achieve goals based on strengths/weaknesses
  • Competitor distribution and marketing strategies
    
• Product Analysis
  • Competitor product offerings and their comparative strengths/weaknesses with Siemens
  • Planned product changes from competitors and how this will effect Siemens' product position

Objectives, Strategy, and Programs

• Objectives
  • Target order, revenue, and profit objectives for the Plan period
  • Market share objectives for the Plan period
  • Product developments
  • Sales channel changes
  • Outbound marketing programs
  • Service programs
  • Pricing
    
• Market Strategy: How the objectives will be achieved
  • Core Strategy for the Plan period
  • Customer targets and strategies to be used
  • Competitor targets and strategies to be used
  • Strategic alternatives
    
• Programs: How will the strategy be implemented
  • Product development
  • Outbound marketing and internal communications deliverables
  • Outbound marketing communications
  • Sales/distribution and associated compensation programs
  • Service
  • Market research
  • Pricing and cost reduction
    
• Financial Documents
  • Budgets: outbound, sales, development, service
  • Profit and loss including comparison with the average for all products
    
• Monitors and Controls: How will the Plan be tracked
  • Financial monitors
  • Marketing communications tactics - metrics
  • Program management
  • External primary and secondary research to be used