Business/Marketing Plan OutlineBusiness/Marketing Plan OutlineFirst of all, don't get too hung up on the title "business plan" or "marketing plan." People tend to think that business plans are radically different from marketing plans, and that's not necessarily true. Actually, it depends on who you talk to. Generally business plans are used externally, to raise funds for investment and loans, so they tend to be more formal. Marketing plans are usually used as internal planning documents. But the differences between them are not that obvious, and the two terms are often used interchangeably. The point is, go through the process, and get all the information together. You can worry about what to call it later.
Part 1: Situation Analysis
This is usually much more than an introduction. Sometimes called an Executive Summary, this section serves as the heart of the business plan. It's basically a clear explanation of why your company is in business, and why it will succeed. It explains why timing is right; it establishes the company's strategy (guiding principles that distinguish you from the competition, and contribute to your success); and it explains how you will compete effectively.
Part 2: The Company
A. Company Summary and Description: past, present, and future. Includes information about the company's history; if this is a new company, information about the evolution of the market and why this company will fit a need or a niche.B. Positioning Statement: According to Ries & Trout, the absolute gurus of the concept of positioning: "A company's positioning is defined as to how it prefers its customers and prospects to feel and think about the company and its products and services. Your positioning is not what your company does to its products and services, but rather what it does to the minds of your customers." Your positioning should differentiate you from your competition. It's a picture people form in their minds when your company name is mentioned. Also: Specifically list how you support your positioning.
C. Company Philosophy/Mission
What are you all about? What do you stand for? What's your vision for the future? (This doesn't have to be one general statement that tries to cover everything. Ben & Jerry's has three separate mission statements.)
Part 3: Market and Competition
A. Market Summary: What's going on in the market? Is it changing or growing? How do you know that it is interested in the product or service you offer?B. Target Customers: Profile/Description/Examples of Primary, Secondary
C. Competition: Profile/Description/Examples
Part 4: Product or Service
What makes it special and in demand? What are the components? How much will you charge, and how will you guarantee your work? Why should customers come to you? (ties in with positioning)
Part 5: Marketing Strategy
The key ingredients in strategy development are understanding the market, the motivations of prospective customers, and how your company fits into that market.A. Marketing Personality: This is much more important than most people realize. Here are some examples:
- Saturn: This is a part of G.M., but you don't even think about it. You think about the people, the personality of the company. That's because Saturn has done a brilliant job of marketing its personality.
- The Body Shop: These people avoid conventional business thinking; they're true innovators, and it shows. And their personality is evident in every store (notice they refrain from traditional methods of marketing).
- Ben & Jerry's: The company's image is friendly, and they're known for their commitment to their employees, as well as social issues that deal with children. This personality is evident everywhere--on their advertising, their package design, and especially their Web site. Take a look for yourself.
Write about your marketing personality. Remember it should related closely to your positioning.
B. Based on your analysis of the market in Part 2, and your positioning, what's your overall marketing strategy? It's shaped by your customers, and potential customers--what's the message you want to communicate to your market? What's your plan to take all those potential customers, and turn them into customers? How will your strategy change, based on changing customer needs/preferences?
Example
- The Body Shop: Refuses to use the word "beauty" in its corporate vocabulary; emphasizes high-quality products in an industry that seems to lean heavier on image than quality products. This company makes its name because of the simple attractiveness of its shops, as well as extensive P.R. because of its reputation as a good corporate citizen.
Part 6: Sales and Promotion
Assess how you intend to carry out your marketing plan--how you'll reach your customers and sell to them. Most companies need an effective mix of advertising and public relations, using about outside consultants and freelance help. Be specific about how you'll structure your marketing activities. This is a very important part of the plan, because your image can suffer heavy damage through inconsistent marketing efforts.This part of the plan should be expanded, and a comprehensive marketing communications plan written, to include specific details about activities, timeframes, etc. This is where you'll further develop your media strategy, including marketing on the WorldWide Web. Remember to plan for your Web site in the same way you plan for any other type of company promotion!
This section is where you get detailed, and really flesh out those marketing communications strategies and tactics.
Part 7: Finances
Here's where you detail your fiscal expectations for the short and long term. Included should be cash flow projections, profit-and-loss statements, leasing information (including projections and goals), and balance sheets. (You may already have this part done--it's usually the only part of a business plan that people think about, but it's not enough by itself.)
Well, that's it. We developed this form after extensive reading and years of experience. Of course it needs to be adapted to your needs -- no two companies' plans ever look the same. And of course, massive companies need massive plans. But this will get you started. And of course, we'd be happy to give you some professional guidance, so feel free to call PJ Parks Communications at 616/956-5910.Good luck!
