Marketing Plan: Definition,

Purpose and How to Create One

Understanding a Marketing Plan

What is a marketing plan? A marketing plan is a comprehensive guide that outlines a company’s marketing steps.

This marketing plan contains important information that will convert potential buyers into loyal customers. The components of a marketing plan implemented to achieve company goals include target demographics, marketing strategies, and company objectives.

Essentially, the basic principles of a marketing plan are the same, but their application varies from business to business. Even two businesses in the same industry cannot use the same marketing strategy or plan. The application of a marketing plan must be tailored to the situation and conditions of each business, both internally and externally.

Purpose of a Marketing Plan

1. Facilitate Strategy Development

The purpose of creating a marketing plan is to help companies understand the initial steps when implementing a marketing strategy. Naturally, during the course of running a business, there will be many challenges

that require effective strategies to address. To ensure that these strategies can be implemented accurately and systematically, it is necessary to create a specific marketing guideline or plan. 2. Performance Evaluation Guidelines

To ensure the company’s continued growth, it is essential to conduct regular evaluations to review its performance over the past period. This marketing plan will help you conduct the evaluation process to align it with the company’s goals.

3. Foundation for Business Innovation

When you enter the business world, you must be prepared for the changes and dynamism that occur. To adapt to these changes effectively and safely, you need a guideline. This marketing plan can be a very effective guideline to ensure your business innovations remain on track and aligned with the company’s goals.

How to Create a Marketing Plan

The procedure for creating a marketing plan is as follows:

1. Identify the Business

The first step in creating a marketing plan is to align it with the company’s vision and mission. From there, you will understand the business, services, or products you will offer to customers. In this section, you can identify business objectives and identify team members and their roles within the marketing strategy.

2. Understand the Competition

It is crucial to increase competitiveness in business by creating something different and innovative. There are two categories of business competition:

Direct competition, which offers the same services or products as your business.

Indirect competition, which involves competitors offering different types of products but can be used as substitutes.

3. Identify Strengths and Weaknesses

This will help the company achieve its desired growth. The purpose of a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis is to compile several identification points in each section for greater perspective.

4. Determine the Target Market

Determine the target market and how the marketing plan can change customer awareness. Expand the target market into specific markets and determine market demographics. This will make it easier to determine the marketing content to choose.

5. AIDA-Based Marketing Strategy

Create a marketing strategy using the AIDA concept (Awareness, Interest, Desire, and Action) and use these four elements to create a marketing strategy.

6. KPI (Key Performance Indicator)

KPIs are measuring tools or indicators to monitor the targets of an existing strategy and will ensure the evaluation phase runs effectively and efficiently.

7. Prepare a Budget and Determine a Person in Charge (PIC)

A budget needs to be prepared to determine how much money is needed and to appoint a Person in Charge (PIC) to be responsible for budget management.

Marketing Plan Example

Here is an example of a marketing plan for a goods company:

Company Type: Bakery

Vision: Make bread a source of healthy carbohydrates

Mission: Build partnerships with organic ingredient suppliers or producers

Target Market: Millennials, upper and lower middle class

Competitors: Other Bakeries

Media Content: Social Media Graphics related to organic and healthy bread ingredients

AIDA Objective: Provide high levels of customer satisfaction

KPI: Content engagement of up to 500 accounts

Budget and PIC: Budget of IDR 30,000,000 and PIC for the social media team and content creators.

Differences Between Marketing Strategy and Marketing Plan

A marketing plan is different from a marketing strategy. The fundamental difference between a marketing strategy and a marketing plan is that a marketing strategy provides a key overview of how marketing efforts will help achieve targets, while a marketing plan is a roadmap that clearly identifies the plan for marketing steps.

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