{"id":3080,"date":"2018-07-02T08:40:48","date_gmt":"2018-07-02T08:40:48","guid":{"rendered":"https:\/\/www.pharmamanage.gr\/2018\/07\/02\/the-ten-key-components-of-a-marketing-plan\/"},"modified":"2024-02-01T16:14:09","modified_gmt":"2024-02-01T14:14:09","slug":"the-ten-key-components-of-a-marketing-plan","status":"publish","type":"post","link":"https:\/\/www.pharmamanage.gr\/en\/the-ten-key-components-of-a-marketing-plan\/","title":{"rendered":"The Ten Key Components of a Marketing Plan"},"content":{"rendered":"<p class=\"article_css\"><strong>If you&#8217;re thinking about developing a marketing program, you need to begin with a marketing plan.<\/strong><\/p>\n<p class=\"article_css\">Regardless of the scope of your marketing plan, you must keep in mind that it is a fluid document.<\/p>\n<p class=\"article_css\">Every business needs to begin with a well structured plan that is based in thorough research, competitive positioning and attainable outcomes.<\/p>\n<p class=\"article_css\">Your plan should be the basis for your activities over the coming months. However, you should always be willing to enhance or redirect your plan based on what proves successful.<\/p>\n<p class=\"article_css\">Below you can find the 10 key components:<\/p>\n<p class=\"article_css\"><strong>1. Market Research<\/strong><\/p>\n<p class=\"article_css\">Collect, organize, and write down data about the market that is currently buying the product(s) or service(s) you will sell. Some areas to consider:<\/p>\n<ul class=\"article_css\">\n<li>Market dynamics, patterns including seasonality.<\/li>\n<li>Customers &#8211; demographics, market segment, target markets, needs, buying decisions.<\/li>\n<li>Product &#8211; what&#8217;s out there now, what&#8217;s the competition offering.<\/li>\n<li>Current sales in the industry.<\/li>\n<li>Benchmarks in the industry.<\/li>\n<li>Suppliers &#8211; vendors that you will need to rely on.<\/li>\n<\/ul>\n<p class=\"article_css\">\n<p class=\"article_css\"><strong>2. Target Market<\/strong><\/p>\n<p class=\"article_css\">Find niche or target markets for your product and describe them.<\/p>\n<p class=\"article_css\"><strong>3. Product<\/strong><\/p>\n<p class=\"article_css\">Describe your product. How does your product relate to the market? What does your market need, what do they currently use, what do they need above and beyond current use?<\/p>\n<p class=\"article_css\"><strong>4. Competition<\/strong><\/p>\n<p class=\"article_css\">Describe your competition. Develop your &#8220;unique selling proposition.&#8221; What makes you stand apart from your competition? What is your competition doing about branding?<\/p>\n<p class=\"article_css\"><strong>5. Mission Statement<\/strong><\/p>\n<p class=\"article_css\">Write a few sentences that state:<\/p>\n<ul class=\"article_css\">\n<li>Key market &#8211; who you&#8217;re selling to.<\/li>\n<li>Contribution &#8211; what you&#8217;re selling.<\/li>\n<li>Distinction &#8211; your unique selling proposition.<\/li>\n<\/ul>\n<p class=\"article_css\"><strong>6. Market Strategies<\/strong><\/p>\n<p class=\"article_css\">Write down the marketing and promotion strategies that you want to use or at least consider using.<\/p>\n<p class=\"article_css\">Strategies to consider:<\/p>\n<ul class=\"article_css\">\n<li>Networking &#8211; go where your market is.<\/li>\n<li>Direct marketing &#8211; sales letters, brochures, flyers.<\/li>\n<li>Advertising &#8211; print media, directories.<\/li>\n<li>Training programs &#8211; to increase awareness.<\/li>\n<li>Write articles, give advice, become known as an expert.<\/li>\n<li>Direct\/personal Selling<\/li>\n<li>Publicity\/press Releases<\/li>\n<li>Web Site<\/li>\n<\/ul>\n<p class=\"article_css\"><strong>7. Pricing, Positioning and Branding<\/strong><\/p>\n<p class=\"article_css\">From the information you&#8217;ve collected, establish strategies for determining the price of your product, where your product will be positioned in the market and how you will achieve brand awareness.<\/p>\n<p class=\"article_css\"><strong>8. Budget<\/strong><\/p>\n<p class=\"article_css\">Budget your dollars. What strategies can you afford?<\/p>\n<p class=\"article_css\">What can you do in house, what do you need to outsource.<\/p>\n<p class=\"article_css\"><strong>9. Marketing Goals<\/strong><\/p>\n<p class=\"article_css\">Establish quantifiable marketing goals. This means goals that you can turn into numbers.<\/p>\n<p class=\"article_css\">For instance, your goals might be to gain at least 30 new clients or to sell 10 products per week, or to increase your income by 30% this year. Your goals might include sales, profits, or customer&#8217;s satisfaction.<\/p>\n<p class=\"article_css\"><strong>10. Monitor Your Results<\/strong><\/p>\n<ul class=\"article_css\">\n<li>Test and analyze. Identify the strategies that are working.<\/li>\n<li>Survey Customers<\/li>\n<li>Track sales, leads, visitors to your web site, percent of sales to impressions.<\/li>\n<\/ul>\n<p class=\"article_css\">By researching your markets, your competition, and determining your unique positioning, you are in a much better position to promote and sell your product or service.<\/p>\n<p class=\"article_css\">By establishing goals for your marketing campaign, you can better understand whether or not your efforts are generating results through ongoing review and evaluation of results.<\/p>\n<p class=\"article_css\"><strong>Be sure to use your plan as a living document.<\/strong><\/p>\n<p class=\"article_css\">Successful marketers continually review the status of their campaigns against their set objectives.<\/p>\n<p class=\"article_css\">This ensures ongoing improvements to your marketing initiatives and helps with future planning.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you&#8217;re thinking about developing a marketing program, you need to begin with a marketing plan. Regardless of the scope of your&hellip;<\/p>\n","protected":false},"author":3,"featured_media":3078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_lmt_disableupdate":"","_lmt_disable":"","cybocfi_hide_featured_image":"","footnotes":"","_wpscppro_dont_share_socialmedia":false,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"","_twitter_share_type":"","_linkedin_share_type":"","_pinterest_share_type":"","_linkedin_share_type_page":"","_instagram_share_type":"","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_bluesky_share_type":"","_selected_social_profile":[],"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[377],"tags":[],"class_list":["post-3080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-omnichannel-marketing-merchandising"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.1 (Yoast SEO v28.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Ten Key Components of a Marketing Plan - PHARMACY management TUTORIAL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pharmamanage.gr\/en\/the-ten-key-components-of-a-marketing-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Ten Key Components of a Marketing Plan\" \/>\n<meta property=\"og:description\" content=\"If you&#8217;re thinking about developing a marketing program, you need to begin with a marketing plan. 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