What is a Strategic Marketing Plan

Strategic marketing plans are very important tools that companies should have and adhere to. The development of strategic marketing plan is important for any kind of business venture to succeed. A strategic marketing plan lays out the aims, targets with accompanying objectives, strategies and tactical implementations for the company to compete against threats, external or internal.

One method to construct a strategic marketing plan is to have five sections; this is called the basic strategic marketing plan. The first part should be an introduction complete with brief descriptions of the business and the major points are highlighted in a bullet point format. A situation analysis, complete with a description of the target market should comprise the second part of the strategic marketing plan. The marketing strategy is next and it should list down the timetable for the completion of the implementation of the strategic marketing plan. In this section, marketing efforts should also be discussed, as in what type of advertising, promotion, and point of sales will be utilized.

Another option for writing a strategic marketing plan is to write a comprehensive marketing plan. It is composed of three sections, the marketing, the operations and the developmental plans. The basic marketing plan is only different because it does not have the operations and development section of the comprehensive marketing plan. The biggest portion of the business is discussed in the operations plan. About 80% of a typical business is operations; this is why the marketing must synchronize with the operations. If one is producing items meant for the middle or low class, then there is no point in targetting the elite class. Discussion of how success can be obtained can be found in the developmental plan.

The strategic marketing plan would be a success if there is cooperation of everybody within the organization, from the rank and file to the management team. It should also take into consideration information that can help deal with internal and external threats in the formulation of the strategic marketing plan. A SWOT analysis must be done during the developmental stage because it gathers all the strengths, weaknesses, opportunities, and threat of the plan. The goals, objectives, strategies and tactics are also important to help the organization to focus on a specific direction.