Strategic Marketing Plan Template

STRATEGIC MARKETING PLAN
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flevy__676.doc Page 4 of 35
2.0INTRODUCTION
It is important to identify the purpose of the Strategic Marketing Plan, in other words
why the business is preparing this document. The purpose could include some of
the following reasons:
- To establish strategies to allow the business to achieve maximum growth and profitability;
- Define how the business will increase its brand and profile awareness within the market
over the next 12 months; and
- Identify the competitive position of the business within the marketplace and that of its
competitors.
Below is some suggested text that you can modify.
- This strategic marketing plan has been developed to assist the organization to determine
its’ future goals and the means by which it can achieve those goals. It is a map that can
be used to see which path the business should follow to achieve its’ marketing objectives
in an efficient and effective manner.
- This strategic marketing plan details why the business exists, its’ environment, both
internal and external, where it is now, what the marketing goals are, what are the
obstacles to achieving those goals and how the goals can be achieved through the use of
resources and marketing tactics. Importantly, it also provides measures (called key
performance indicators) that will help the business to see if it is on the road to successfully
achieving its goals or whether it has taken a wrong turn.
- It is intended that this strategic marketing plan will be revised and further developed over
time, so that as the business achieves its’ marketing goals or circumstances change, it can
be adapted to ensure the best ongoing results for the organization.
- The development and use of this strategic marketing plan will help the business achieve
its’ vision.
This document is a partial preview. Full document download can be found on Flevy:
http://flevy.com/browse/document/strategic-marketing-plan-template-676

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4.0INDUSTRY ANALYSIS
This section of the Strategic Marketing Plan examines the nature of the industry in
which the business operates
The following will be examined:
- Characteristics of customers;
- Characteristics of suppliers;
- Barriers to entry (and exit);
- Industry rivalry; and
- Substitute products and services.
This section examines the external environment of the business.
Is the industry influenced or to what extent is it influenced by factors such as:
- Geographic factors;
- Government trends and legislation;
- Pricing (customers and suppliers); and
- Market opportunities and growth.
Does the industry have any trends?
- Is the industry trend to target the mass market or a niche market;
- Do seasonal trends exist?
Provide a description of industry that the business competes in. This can include
factors such as:
- Characteristics of customers;

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What are the customer switching costs in choosing a substitute product or service?
Actions and Key Performance Indicators
Actions could include:
- Seeking new suppliers;
- Raising barriers to entry into the industry (in order to protect the business);
- Seeking new target markets;

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- Product research and development investment;
- Success rate of new products and updates; and
- Conversion rates of purchase of new products (measure this against marketing strategy).

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7.0 DIAGNOSTIC SWOT ANALYSIS
Assess the business’s current products / services and target markets.
Make an assessment of the business’s ability to enter and compete in newly
identified target markets.
Provide a listing of new potential products and services and an assessment of the
business’s ability to introduce new products and services.
These assessments should all be discussed in the appropriate SWOT category
below.
Strengths
What are the business’s strengths? Examples of strengths are:
- Geographic location;
- Market share leader;
- Specialist technical skills and quality of products; and
- A Business Development consulting firm has been appointed to assist the business grow
and increase its profitability.
Weaknesses
What are the business’s weaknesses? Examples of weaknesses are:
- Lack of working capital;
- High employee turnover;
- Inadequate product and service development; and
- Product delivery services are inadequate.

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8.0 TARGET MARKET SELECTION
Existing Target Markets
Identify existing target markets and percentage of market share in each.
Potential Target Markets
Identify all additional target markets potentially available to the business.
Conduct market research in order to establish the depth and range of each target
market. For example:
- Number of potential customers in each target market;
- Approximate revenue from each target market;
- Existing competitors for each target market; and
- Identify the products and services appropriate for each target market.
Establish a strategic objective for each market.
Identify specific opportunities and threats within each market.
Assess each market to determine the best marketing strategy to adopt.
Prepare a financial analysis for market entry or new product / service introduction.
Key Performance indicators could include:
- Number of potential customers;
- Number of new products / services needed to service these target markets; and
- Profitability (%) of each target market.

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Is customer service considered the business’s number one priority?
Does the image and culture of the business support customer service?
- If not, how is the business going to achieve this?
Has the business conducted a Customer Advisory Session or customer surveys in
order to gather customers’ feedback on how the business is performing?
Marketing Mix
Develop an optimum marketing mix strategy for each market.
Key Performance indicators could include:
- Conversion rate of new customers; and
-
- Level of response according to each marketing strategy.

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11.0 MARKETING STRATEGY
Overall Marketing Strategy
Provide a brief overview of the marketing strategy and what the business aims to
achieve.
- How do you currently market your products and services?
- How do you plan to market your products and services?
What will be the position of the business within the industry i.e. market leader, price
leader etc?
Executive Summary
Summarise the strategy and action plan.
This section should be completed once the marketing strategy has been completed.
Business Mission
The business mission identifies the purpose and core marketing strategies of the
business. It identifies the competitive positioning and the level of professional
standards that the business wants to maintain.
Ensure that the mission statement includes things such as:
- Purpose of the business;
- Professional standards that the business wishes to adopt;
- Type of people the business wishes to employ and the benefits that they may expect to
receive; and
- Core values of the business.

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- Increase sales from existing customers.
How will you measure the effectiveness of your advertising and promotion?
- Conversion rates of new customers to repeat customers;
- Cost per contact;
- Number of new customers; and
- Cost analysis of marketing materials.
Pricing Strategy
What type of pricing strategy does the business use? Types of pricing strategies
include:
- Premium pricing;
- Price leaders; and / or
- Competitive pricing.
What factors affect how you price your products and service?
- Are there Government regulations that affect you?
- Do you price according to the cost of your inputs such as materials and labour (cost plus
margin pricing)?
- Do you price according to prices set by your competitors?
- Do you price according to what the market (customer) is willing to pay?
-
What do you believe customers are willing to pay for your products and services?
- Customer research may assist in this area

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What will be tabled for discussion at these meetings?
What key performance indicators will be used to measure the success of the
marketing strategy?

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14.0 APPENDIX 3
Marketing Activity Schedule

1
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