(v1-2.0) Marketing plan objectives

Marketing plan strategy and objectives

In the previous chapter, chapter ONE, we completed the analysis of the current situation for an existing business based
on the past year. Now we can formulate the marketing plan strategy and objectives for the upcoming year by responding to the six issues below.
Welcome to chapter TWO - the second out of the four chapters of a marketing plan.
The previous chapter, current analysis, together with this one, are referred to as strategic planning.

To see the transition of the issues that were analyzed from chapter ONE into chapter TWO, click here

Marketing plan strategy and objectives for next year - Chapter 2	backed-up by Chapter 1	Formulating the marketing objective for an existing business
2.1 marketing strategy based on       the offer and the of relevant       competitive markets		Along with consumer retention (market penetration strategy), next year we should put more emphasis on promoting our offer to new segments (market development strategy) and/ or to introduce new products/ services to our current offer (product development strategy). Key concept: The Ansoff Matrix
2.2 desired market segmentation		Based on our past experience; the following segments should be targeted next year (to be listed according to importance):________... This is a marketing objective!
2.3 desired marketing-mix		The main two to three elements of the desired marketing-mix should be as follows (to be listed according to importance):________... This is a marketing objective!
2.4 tows-based objectives		TOWS is a complementing model to SWOT analysis as presented in the previous chapter. By comparing and crossing current strengths and weaknesses with future opportunities and threats, TOWS matrix allows us to set 2 to 4 marketing objectives. For example, shifting a current weakness into an opportunity during the next year.
2.5 position and perceptual gaps		Based on our current positioning; we should be able to create a marketing objective that would minimize the perceptual gap between last year’s positioning (by clients, etc.) and next year’s position (by management). Key concept: Perceptual gap
2.6 yearly sales forecast		A quantitative marketing objective based on a rough estimation of the number of products/ services to be sold quarterly (a), multiplied by the estimated average price, excluding VAT (b): a X b = quarterly sales forecast             per market & per segment