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Marketing plan

A company’s marketing plan outlines its intended marketing and advertising activities for a specific period of time (usually the next 12 months). These activities are tightly linked to the company’s strategic plan, which offers a three- to five-year view.

A well-constructed marketing plan increases a company’s chances of success by setting clear goals, actions and accountabilities. It will typically include:

  • A summary of opportunities and threats to be addressed that emerge from the company’s SWOT analysis
  • Financial and non-financial objectives, both overall and by market segment or geographic region
  • Competitive success factors
  • Specific tactics for products, pricing, marketing and communications
  • Specific tactics for dealing with competitors
  • Timing for all of the tactics identified
  • Clear assignments of responsibility for each part of the plan, along with monitoring and reporting requirements
  • Budget and notes on cost controls

Some marketing plans also link directly to a company’s sales plan, depending on how the company is organized.