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Marketing Plan for a New Business in Australia
A typical Marketing Plan should include the following elements:
1. Executive Summary
This section of the marketing plan will summarise key ideas, findings and recommendations made in the body of the marketing plan. It should be concise and presents an overall picture of the business and the market.
2. Situation Analysis
This section of the marketing plan examines the business’ internal and external environment, particularly:
– Macro-environment: economy, legal, technology etc
– Market Analysis: market size, industry structure, competition etc
– Consumer Analysis: demographics, motivations etc
– Internal Analysis: resources, objectives etc
– SWOT Analysis: strengths, weaknesses, opportunities, threats
3. Marketing Research
This section will discuss the findings of any market research you have conducted, as well as recommendations that have been made based on these findings.
4. Marketing Strategy
This section details the activities that will be undertaken to ensure that the business’ marketing objectives are met. Strategies are usually categorized under the following headings:
5. Financial Summary
This section should examine the finances of the business with regards to marketing and sales. It may include a marketing budget and sales forecast.
6. Conclusions and Recommendations
Key findings and recommendations should be discussed in this section, along with any limitations of the marketing plan itself.
Without considering all of these and making adequate and complete plans, you increase the risk of business failure. It is important to ensure that the strategies and recommendations set out in your marketing plan are implemented. Creating a marketing plan only to have it sit on a shelf will only waste your time and energy.
If you would like to speak to a member of our team about creating a marketing plan for your business, please complete and submit the Express Enquiry form on the top right hand side of this page and we will contact you to discuss your enquiry. Alternatively, you can also call us on +61 2 9223 9166 to arrange an appointment.
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