How to Create a Marketing Plan like Professionals in the Philippines
Creative Agency Philippines,
What are the parts of a marketing plan?
- Executive Summary
- Mission and Vision Statement
- Situation Analysis
- Target Market
- 4 Ps of Marketing
Working for any creative agency in the Philippines or digital marketing company in Manila will require you to know how to write a decent marketing plan. A marketing plan basically outlines the strategies that a business plans to use in order to get customers and generate sales. Marketing plans are one of the keys to any firm’s success, so if you hope to make it in your industry, it is imperative that you know how to make marketing plans that are detailed, effective, and creative. Here are some of the basic components found in marketing plans and how to write each. With this guide, you will surely impress your boss or professor with your stellar marketing plan.
An executive summary provides a detailed overview of the entire plan. The executive summary should include who your target customers and market are, what your product is, goals and objectives, and what makes your marketing plan unique and urgent, among others. It is important to include all the important details in the summary since many might not bother to read your entire paper. Moreover, this is typically written last but is the first to appear in the plan.
Mission and Vision Statement
Mission and vision statements are usually just one sentence long and encompass the main goal of a company or of a specific project. Creating these will keep you and your team focused on the real objective of the project and will serve as the foundation for the rest of your marketing plan. One important question to ask yourself when writing a mission statement is “What value does my business/product bring to the company/society?”.
Another component that can be found in any marketing plan is the situation analysis, an understanding of the company’s internal and external environment, as well as the firm’s capabilities and weaknesses. This is best illustrated and organized in the SWOT analysis, which stands for strengths, weaknesses, opportunities, and threats. With this chart, you will be able to tell at first glance what strengths you can take advantage of and the areas that need to be improved. The creation of a SWOT analysis is a basic skill needed in any creative agency in the Philippines. A situation analysis also typically includes a description of the market’s needs and demographics, as well as the company’s competition.
Another important component of marketing plans is the description of your target market or audience. This refers to the demographic or group of people you aim to reach or advertise too. One tip given by professionals in the field of marketing is to know your niche, the specific demographic you aim to target, very well. By knowing the needs and current trends in your target market, you will easily be able to make a marketing and advertising strategy that is suited for that demographic.
4 P’s of Marketing
A large portion of your marketing plan will be spent discussing what is commonly known as the 4 Ps. The 4 Ps stand for product, place, price, and promotion, and these four summarize everything you need to know to create a marketing strategy. When it comes to the product you will be advertising, it is important to know what makes it unique and how it meets the needs of your customer. Place refers to where or how you plan to sell and market, whether it is in a mall or online. As for the price, remember to consider how much your target demographic can generally afford. Lastly, the bulk of your plan will be spent discussing your strategies for promotion and what you plan to do to reach your target audience. Some examples of strategies include putting up billboard ads, online ads, and more.
When pitching any business plan to a digital marketing company in Manila, knowing that the plan is financially feasible is very important to the company. One way to show this is to include an estimate of the budget you would need to execute the plan, as well as what the budget will be spent on. This can be difficult to determine but one thing you can do is to use the budgets or previous and similar plans or projects as a basis.
Being able to write a well-researched marketing plan is a basic skill that you will need when working in most industries, from digital marketing to manufacturing and more. It is important to make your plan as detailed as possible and to have reasons behind every choice of strategy. Writing a marketing plan can be difficult and tedious but is made easier when you know the right questions to ask.