The Executive Summary “sells” the marketing plan to readers through its clarity and brevity. The summary should present a description of the product/service, its target market, and its need within the market. The summary should also provide an overview of the main points of the plan and should emphasize an action orientation. It should be written after you have finished the main contents of the marketing plan.
1. Company Description The company description should highlight the recent history and successes of the organization.
2. Strategic Focus and Goals
a. Marketing Plan Objectives
The Goals section of a marketing plan sets both financial and non-financial targets. Goals should be in quantitative terms, where possible, to facilitate measuring the company’s future performance.
• The objectives and goals should be stated in measurable terms so that they can be measured during the program implementation and evaluation phases of the marketing plan.
• An example of a non-financial goal: “Philip Morris will diversify its product lines to achieve 50 percent of sales revenue in non-tobacco products in the next five years.”
• An example of a financial goal (note it is specific and measurable): “XYZ Inc. will increase sales from $10 million in 2008 to $15 million in 2012.”
b. Core Competency and Sustainable Competitive Advantage
• Competencies are an organization’s special capabilities, including skills, technologies, and resources, which distinguish it from other organizations and provide value to its customers. A competitive advantage is a unique strength relative to competitors, often based on quality, time, cost, or innovation.
• An example of a competitive advantage: “McDonalds’ competitive advantage is its large number of restaurants, more than double its competitors, making it more convenient for customers than any other fast food restaurant in the world.”
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