How to create a Marketing plan step by step Tips

How to create a Marketing plan: step by step Tips

Marketing plan

It is a fundamental part of the plan: it is not enough to have a great idea, an unmet need, but we will also know how to sell it. Therefore, before we will have carried out a market study to detect:

Who is my potential audience? Who am I addressing, what spectrum of the population, age group, sex, geographical areas …

Price hall. Keep in mind three concepts: if it is the same product that is already on the market, but that will cover new needs that we have detected, the price will be lower because it is easier to imitate. If it is a different product that will cover needs that other products already cover, but in another way, the price will also below, for the same reason. If it is a different product that will cover other needs that we have detected, then we can set a higher price.

Who is our competition?

Here we must include who is doing something similar to what we want to do and how our proposal differs from what is currently offered, either because the target audience is different, or because we are going to change the distribution channel, or because we have detected an uncovered gap. A good analysis of the competition also allows us to know what our weaknesses are. To explain this competition analysis we can turn to the customer experience map.

Set the sale price. That is the one that leaves us a profit margin. To fix it, once we have determined our clientele, the price corridor, and the price of our competition, we have to apply the formula: unit gross margin = unit sales price – unit variable cost. The variable cost is not the same if it is a commercial company, a service company, or an industrial one. In the first case, the variable cost is the same as the product plus the supply costs. In the second, as there is a manufacturing process, it is necessary to add to the cost of the product the cost of labor in the production. In the case of a service company, since it is more intangible, it is also difficult to determine the price, but in any case, you have to count on that of the labor.

Sales forecast. You have to take into account the high and low seasons of the business. It is best to forecast downwards so as not to be optimistic. A forecast should be made for the first monthly year and then a forecast for three to five years. Make it in tables and be careful to include them again in the financial plan.

How we are going to distribute it. Explain the sales channels you will use.

How are we going to tell it . You have to explain how you are going to communicate it. It can be structured as follows:

  • A detailed description of the brand and logo and definition of our brand.
  • Promotion policy: fairs and congresses, sponsorship programs, sponsorship …
  • Direct marketing and telemarketing actions.
  • Advertising in specialized and general media.
  • Public relations.

Sales network.

It also makes a monthly forecast and a three-year forecast of marketing expenses. In the business plan that you will find on our website, you can see examples of tables.

HR plan

In the executive summary and in the first part, in the product description, we have ventured to the promoter team. Here we will talk about the rest of the necessary personnel. These points must be recorded:

  • Organization chart description of the positions and number of people who will become part of the project.
  • Description of the functions and tasks to be developed and profiles sought.
  • Selection process
  • Labor conditions.  Salaries, shifts, legal situations, types of contracts.
  • Production plan

We will detail the logistical development of our idea: whether it involves industrial production, whether it affects distributors or the technology we will use. Be careful with this point. What we have to do here is to advance the data that can be public and that should be known by the investor, never more than necessary and, of course, without revealing the know-how, so as not to encourage copying.

Description of the product production process (how it will be done, in what facilities, with what means) or of the service (how we will provide the service …). If we have our own patent or software, it is time to say so.

Shopping process. What raw material are we going to need and where are we going to acquire it, who will be our suppliers and how are we going to interact with them.

Necessary infrastructures. Description of the material and facilities that are required to carry out the business.

Financial plan

Write this part with tables and spreadsheets, inserting them in the text. It should also include:

The initial investment. It will be determined by the marketing, production and human resources plans. It must consist of:

Fixed asset. Tangible fixed assets (real estate, facilities, equipment), intangible assets (patents, leasing, computer applications), financial assets (if there is any type of guarantee or another type of investment), establishment expenses (only in the case of companies that start their activity).

Current assets. Debts, inventories… These would be the investments necessary to start the business, but with a turnover of less than one year.

The form of financing these investments.  A distinction can be made between fixed liabilities (own capital, long-term external financing (loans, leasing, long-term fixed assets …), subsidies), and current liabilities.

Income statement for three or five years  (depending on the type of company). It is the difference between income and expenses. The income would come from the sales of the product or the service and the expenses would be divided between fixed and variable and depend on each type of business. Although, in general, among the fixed, the amortizations of the credits, the cost of maintaining the office, the fixed salaries or the social costs. Variables can include energy consumption and indirect labor.

Contingency plan and legal plan

It is also interesting to include a contingency plan where the most favorable or the least favorable scenarios appear, what consequences can be derived and what measures the company would adopt. This section should answer the following questions: Have I foreseen the worst-case scenario? Have I made clear the measures I will take in that situation? Is it clear how the investor can disengage in the medium term?

Leave a Reply

Your email address will not be published. Required fields are marked *