Last edited 03 Nov 2020

Main author

Philip Collard Other Consultant Website

Tactical marketing plan


[edit] Introduction

The three-year strategic marketing plan addresses strategic issues. The shorter, one-year tactical marketing plan (or operational marketing plan) tackles more immediate and tactical tasks. Preparation of the three year strategic marketing plan must precede the one year plan, with the latter being a function of the former and not vice versa. Extrapolating the one-year plan into the three-year plan (as many businesses do) will serve no useful purpose.

Having waded through the lengthy process of constructing a three-year strategic marketing plan, the one-year tactical marketing plan is relatively simple, as the quantitative analyses, portfolio matrices and competitor analysis have already been completed.

See Constructing a three year strategic marketing plan for more information.

[edit] Contents of the tactical marketing plan

[edit] Overall objectives

These should include financial objectives e.g. sales volume / value targets, gross margins etc. They may also state a targeted increase in market share or the goal of becoming market leader in terms of share / sales etc. Some form of brief commentary should accompany the objectives.

[edit] Overall strategies

How the objectives will be achieved by targeting which customer segments and with which products / new products, communications etc (the marketing mix).

[edit] Detailed sub-objectives by segment / customer

With large industrial or business-to-business markets this may go down as far as setting sales targets by customer or new accounts that will sought.

[edit] Sub-strategies and action tactics

How the sub-objectives will be met, including details, timing and responsibility for achievement. This should include indications of new advertising, sales promotion, PR or direct mail campaigns, sales incentives for the trade or sales force as well as any other tools that may be employed in order to deliver the sub-objectives set.

[edit] Summary of marketing activities and costs

This should cover the whole marketing budget for the year and include everything from advertising to entertainment and travel costs.

[edit] Contingency plan

As was discussed in the article about constructing a strategic marketing plan, a list of assumptions made and the implications for the business if those assumptions are not met, is crucial.

Having identified key assumptions, the financial implications can easily be modelled on a spreadsheet to demonstrate two or three different scenarios. For instance what if the firm’s most valued account were to be lost? What could be put in its place and how long would that take?

While comprehensive contingencies cannot practicably be planned for, identifying key assumptions and how the marketing department would deal with the resulting scenarios of a failed assumption, is a requisite fall-back position.

[edit] Operating results and financial ratios

This should summarise the main financial ratios as preferred by the firm. In addition to sales, gross margin, marketing costs, and the forecast return on sales, investment or even capital can be recorded. To some extent the content of this section will be dependent on each organisation’s own style of financial analysis.

[edit] Key activity planner / schedule

A list of planned marketing activities that will take place, by month, throughout the year.

[edit] Other information

Any supplementary details such as; sales targets by individual, realignment of sales territories or sales call plans.

[edit] Conclusion

True marketing planning requires an integrated approach that offers many benefits including ease of managing progress, as it is now possible to assess actual progress against what is desired. It also ensures that critical marketing objectives, that the future success of the firm may depend on, actually happen because of continuous review, so the usual excuse of “too much project work” is simply not acceptable. Such marketing initiatives will have variable demands on a manager’s time and so they must get properly organised. No current job can be more important than ensuring the firm stays in business in the long term.

Effective construction marketing mean firms are able to stand out from the crowd and have the ability to present themselves as offering something unique that not only differentiates them from their competitors but is valued by potential clients. Firms need to innovate service products that fulfil and satisfy individual client’s needs but they must also be able to identify the client earlier on to try and avoid the pressure and cost of competitive tendering.

Marketing in the construction industry should not be perceived as a non-measurable intangible activity, but a valuable technique that wins more profitable work.

This article was created by --Philip Collard 14:30, 11 December 2013 (UTC)

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[edit] External references

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