Example of a Basic Marketing Plan

"The multichannel direct marketing plan begins with a customer-centric approach to planning. The goal is to invest in the prospects, customers, and customer segments that the organization believes will help it reach the projected income flow goals" (B. Stone, R. Jacobs, 2008, p. 32).

Introduction:

In this example of a multichannel marketing research plan, our goal is to utilize the resources available to increase sales in men's clothing.

Summary and Situation Analysis:

The organization operates as a distributor that intends to promote further business and develop a loyal customer base. A complete database of over 250,000 current customers exists; each order averaging a $120 sale. The products involved target the "larger than average" male demographic across the United States. The brand name clothing is referred to as Big & Tall. Local competitors are involved, as well as other online distributors competing for each consumer's business.

Goals and Objectives:

The objective is not limited to increasing sales by simply providing sales and specials. To further rectify the situation, the goal seeking accomplishment is to maintain current clientele, while persuading other loyal consumers to engage interest in Big & Tall clothing. Promotion and advertisement will be utilized to publicize the Beauty Bargain sale initiated. The discount = 25% off, limited time offer. A database of 250K is expected to exceed 300K during the holiday season.

Marketing Strategy:

The strategy to reach the sales expectations will involve publicity via radio and internet. A radio broadcast will notify consumers of the limited time offer and provide a coupon code to enact while processing an order via the website. The code will also be displayed on the website's front page.

Tactics:

Each customer currently in the database will automatically be informed if an email reference is present. Those without will receive a phone call by employed telemarketers working on commission bonuses. Mailing lists will also be generated. Competitor lists may be utilized to interest future customers by offering the discount prices. These lists may be obtained by researching consumers who have purchased male sizes ranging in the X-Large category in recent surveys or other online transactions.

Budget:

The budget for this marketing plan should be based on a percentage of last year's profit during the holiday season; more accurately if a sale was associated during that time. For example, after promotion costs, radio and internet advertising costs, postage costs, and 25% discounts are applied, you will not want to exceed the actual cost (price to manufacture) of the product. While the goal after performing all these measurements should be to increase profits, the business should ensure to financially limit the costs associated with this marketing plan.

References:

Stone, B., Jacobs, R. (2008). Successful direct marketing methods (8^th ed). McGraw-Hill, New York, NY