Description should include a company overview, mission and goals, core competencies, situation analysis, competitors, target market, marketing mix, budget, scheduling, and monitoring in the following components:
- Executive summary
- Situation analysis
- Objectives (S.M.A.R.T. goals)
- Marketing strategies
- Marketing budget
- Implementation
- Evaluation
- Control
- Appendix (if needed)
Process/Skill Questions:
- How can a small business benefit from writing a marketing plan?
- What are the key components of a marketing plan? Why is each important?
- How would an internet-based business’ marketing plan differ from that of a brick-and-mortar business? How would it be similar?
- Can each part of the marketing plan stand independently? Explain.
- Why is conducting a SWOT analysis important for the writing of the marketing plan?
- Why is a marketing budget important for the success of the marketing plan?