Main > Marketing Tutorials > How to Write a Marketing Plan >
 

Tactical Decisions: Target Market

If the target market remains the same as what was identified in the Situational Analysis then identifying the market will be relatively easy though justification for continuing with this market is required. For new markets a more detailed discussion is needed. This section also includes the sales forecast which is the driving force for all financial forecasts. Depending on the depth of detail sought in the marketing plan, it may be a good idea to include likelihood scenarios, such as best case, worst case, and probable case, when developing the sales forecast. (Length: 1-2 pages)

  • Target market description:
    • Brief summary of current target market
    • Identify planned changes:
      • Summarize changes:
        • Describe using profile (e.g., demographic, psychographic, behavioral, etc. )
        • Describe how it will be accomplished
      • Justify planned changes:
        • Due to results
        • Due to research
        • Due to competition
        • Others
      • Describe target market tactics:
        • Objectives
        • Methods used change target market
        • Profile the target marketing
  • Product positioning:
    • Brief summary of product postition
      • How does target market view product in relation to competitor’s products?
    • Identify planned changes:
      • Summarize changes in product positioning
      • Justify planned changes:
        • Due to results
        • Due to research
        • Due to competition
        • Others
    • Describe tactics to carryout changes
      • Objectives
        • e.g. what is desired position?
      • Methods used to change position
  • Sales forecast for each product:
    • Brief summary of current sales
    • Identify changes
      • Summarize changes in forecast
      • Justify forecast (i.e., figures determined based on what information?)
    • Describe forecast
      • Objectives
      • Methods used to carry out
      • Numerical estimates
        • Categories:
          • Total
          • By segment(s)
          • By distribution channel
          • Others
        • consider likelihood scenario analysis
< Prev   Next >

0 Comments

Add Comment

 

How to Write a Marketing Plan

KnowThis: Marketing Basics Book

396 pages - Only $25

KnowThis: Marketing Basics Book Our first book offers in-depth coverage of marketing and is ideal for the marketing novice, the marketing educator, the marketing professional and anyone else who needs to know about marketing. This book includes more than 50% new material not found on KnowThis.com. For more information including taking a look inside, Click Here.

Samples of Marketing Tutorials

Marketing Code of Ethics
The call for marketers to become more responsible for their actions has led to the development of a code of ethics by many companies and professional organizations. A company code of ethics includes extensive coverage of how business is conducted by members of an organization. For instance, Yahoo! lays out an extensive list of what is expec…

Read more...