What is a Market Plan?
A market plan outlines a business advertising and marketing efforts for the coming year. It describes business activities involved in achieving marketing objectives within a set time frame. The plan covers the company's marketing and advertising objectives and how they will be achieved in the context of the overall business strategy. A market plan may include a description of the current marketing position of a business, a discussion of the target market and a description of the marketing mix that a business will use to achieve their marketing goals.
What's included in this Market Plan template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Market Plan template for?
This Market Plan template is designed for entrepreneurs, startups, and small businesses in various industries looking to create a marketing plan to launch or grow their products or services. It can be used to identify and analyze the key drivers of growth for a company, product, or service, and to create a strategy to achieve specific business goals. It is an essential tool for businesses that want to succeed and stay competitive in their industry.
1. Define clear examples of your focus areas
Focus areas are the core themes of your marketing strategy. Examples of focus areas could include increasing brand awareness, increasing customer acquisition, or increasing customer retention. Each focus area should be broken down into objectives and specific projects that are related to those objectives.
2. Think about the objectives that could fall under that focus area
Objectives are specific, measurable goals that you want to achieve within your focus areas. Objectives should be created to help you reach your overall business goals. Examples of objectives include growing web presence, increasing paid advertising, or increasing customer loyalty.
3. Set measurable targets (KPIs) to tackle the objective
Key Performance Indicators (KPIs) are measurable values that help you evaluate the success of your objectives. Setting clear KPIs is essential to track progress and measure success. KPIs should be specific, measurable, and achievable. Examples of KPIs include increasing monthly website visits, increasing monthly ads budget, or increasing customer loyalty program participation.
4. Implement related projects to achieve the KPIs
Projects (actions) are specific activities that you can do to help you reach your objectives and KPIs. Projects should be broken down into steps, and each step should have an individual responsible for it. Examples of projects could include increasing website traffic, increasing ads budget, or increasing customer response rate.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform helps to accelerate and track the execution of your marketing strategy. With Cascade, you can easily create objectives, assign initiatives, track progress, and measure success. Cascade makes it easier to create and implement a successful marketing plan, so you can see faster results from your strategy.