Sample Marketing Plan Excerpt: Marketing Objectives

Understand the Definition of Marketing Before Developing Your Plan

This excerpt from a sample marketing plan demonstrates how to incorporate writing business plan with marketing objectives. Ensure that you understand the definition for marketing before you write your plan; develop a strong service and/or product marketing strategy.

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To help build your small business plan, use an excerpt from a sample marketing plan as a model for your marketing plan section.

When writing business plans, you must include the plans for the following functional areas: financial, operations, human resources, marketing, sales, and strategy.

Because of the complexity of building many plans into one overarching plan it is important for you to have a view of key outcomes.

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Sample Marketing Plan Excerpt:

A Marketing Objective Example.

My definition for marketing is that it is the foundation for sales and for building the business. A pretty big statement.

Without marketing it's still possible to sell but selling can become a very random and scattered activity.

With marketing as a key part of your small business plan, you will build a very focused and strategic approach to sales and to growing your company. Business strategy is always important to keep in mind when developing your marketing plan.

One of the key outcomes of writing a marketing plan is the development of marketing objectives. Marketing objectives must be very specific and detailed in terms of what you want to achieve, how you want to achieve your objective, when (define the timing), where (define the market segment), why, if applicable, and finally, who is responsible and accountable for achieving those objectives.

Focus your marketing objectives on your key product or service features, advantages, and benefits, your product positioning, product life cycle, and product differentiation. Sales and Marketing plans need to incorporate all these elements for positive outcomes. Develop a marketing plan outline to ensure that all elements of your plan are addressed.

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Sample Marketing Plan Excerpt:

Developing a Marketing Objective for Price Strategy

1. What: The pricing objective for the Bold Estate Wines 2010 Syrah is to price at a product-quality leadership level in its category (Reserve) wines.

2. Why: The external pressures on the pricing strategy for Bold Estate Wines 2010 Syrah are:

   1. the macroenvironmental threats previously identified (earlier in the plan);
   2. the extent of the competition in the defined market, which is limited;
   3. the legal regulations for distributing wine (with alcohol content);
   4. societal attitudes towards the price levels of wines;
   5. and the defined-market demand.

3. How: While the Syrah is to be priced at the high end of the medium-priced Reserve category, $30 Canadian, it is placed at that high end to represent the high quality and uniqueness of the wine. The price, in other words, supports the wine's high value, and the high value of the wine supports the high price: a reciprocal brand support.

   The hand selected grapes are carefully chosen from Bold Estate's own vineyards (no purchased grapes to be blended into this wine). The market is ready for a Reserve Syrah, there is a demand for a good quality Canadian wine; the cost of producing this wine at the higher end of the Reserve category is high; and competitors' prices are in range (some higher and some lower).

   Bold Estate Wine's reputation, the wine itself, and the promotion program must consistently build the customers' perceptions of the value of the 2010 Syrah.

4. When and Where: This product is limited in availability; only 2000 cases (24,000 bottles) of the 2010 Syrah will be produced. This limitation will also create a strong demand for the product. Tasting will be October 2013. Official launch date will be November 2013 in British Columbia, Canada. (Grapes are picked and processed in 2010 and bottled in 2011.)

5. Who: The marketing and operations teams are responsible for launching this product marketing strategy effectively.

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Writing Business Plan:

The excerpt from the sample marketing plan above demonstrates only one element of the writing a business plan.

It shows you how to build your marketing objectives to address problems (in this case, pricing) with solutions (your strategy and objective).

You need to take ownership of your marketing plan and build your strategy to reach your small business plan objectives.

Note: This is an excerpt from a sample marketing plan; the information is fictional.

Additional Reading:

Define Marketing Mix to clearly understand all the elements of mix (product, price, promotion and place).

Return from Sample Marketing Plan to Definition of Marketing.

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