Crafting the Perfect Marketing Plan Executive Summary

The marketing plan executive summary is an important section of your business marketing plan that is most often read. It gives the reader with an abstract view of the plans for marketing and the goals that have been set. It is also the section that is read most by professionals such as bankers, investors and other parties interested in your business. This gives the reader a quick overview of your revenue generating concepts and ideas and helps them determine upfront whether the rest of the plan is worth reading. It consists of a summary of the entire marketing project which is given in greater detail inside the marketing plan. It is also very concise so the reader gets a quick rundown of the overall plan. There are six vital parts to the perfect marketing plan executive summary that we will review in the sections below.

1. Market Overview

This is a brief overview of the current market. It should have all the most crucial facts which show the market possibilities, the market dynamics and how fast changes are occurring, the sectioning of the market in terms of demographic factors such as age, expenditure and income. You also have to identify your competition clearly.

2. Competitive Overview

This section should contain information about the competition in clear details. These can either be direct competitors who are in the same niche as you are and the indirect competitors who provide complimentary products or services. When you are writing down the details in this section, you must know the uniqueness, strengths and weaknesses of your products or services, the differences between what you are offering and what your competition is offering, the prices set by the competition, any other products or services offered, and the marketing strategy that they use.

3. Product Overview

This section contains detailed information about your product or service. It must contain information such as the products’ or services’ purpose, its key characteristics or features, the pricing structure, position in the market, modes of distribution to the consumers, the tactics used for advertising and promoting the products or services, and the current details for packaging and branding.

4. Objectives & Goals of the Marketing Plan

The goals and objectives basically provide the reader with information about what you intend to accomplish within a certain time period. This can be as long as five years. The goals that you set should be challenging enough, time-framed, measurable and have reasonable projected profits.

5. Strategies

These are the plans that are executed to achieve the goals and objectives. These are in the section that we have looked at previously. Strategies are derived by bringing together different marketing techniques and maximizing their synergies. This will give you the big picture on how all your marketing efforts work toward achieving your goals. The main elements in a proper marketing strategy is composed of the product, the price, the place, and the promotion methods.

6. Action Plan & the Schedule for Implementation

This section contains details on how you will market the products or services offered by your business. This includes aspects such as the media to be used such as newspapers, magazines, the Internet, word of mouth, and other methods. There should also be details about why you chose the media in the previous step and a description of the budget for each of the media types you chose.

There are a couple of guidelines to keep in mind when writing the executive summary of the marketing plan. You should remember to focus on providing a real summary. It must not contain too much information as the details are already provided in the sales and marketing plan itself and people who read the executive summary don’t like to waste their time. The language of the summary should be positive and portray the strengths of the marketing plan. It should be short, concise and no more than two pages long. Always polish it in the end and make sure it is correctly tailored to the right audience.

In conclusion, the marketing plan executive summary is usually the first thing that the readers of the marketing plan will read. If the summary of the marketing plan is poorly written, then the readers will set it aside without looking at it any further.

Posted in Business Marketing Plans

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