The Marketing Plan (Cambridge (CIE) A Level Business): Revision Note

The contents of the marketing plan

• A marketing plan is a written document that outlines a business’s marketing goals and how they will be achieved

• It includes details about target customers, market research, marketing strategies, resources required and how success will be measured

• The purpose of a marketing plan is to

  • Guide a business's marketing efforts to achieve its overall objectives

  • Ensure marketing activities are consistent and coordinated

  • Help allocate resources effectively

  • Monitor and evaluate marketing performance over time

Key components of a marketing plan

1. Marketing objectives

• These are specific goals a business aims to achieve through its marketing activities

• Marketing objectives should be SMART

  • Specific – e.g. "increase sales by 10%"

  • Measurable

  • Achievable

  • Realistic

  • Time-bound – e.g. "within 6 months"

• E.g. a phone company may aim to increase market share among teenagers by 15% in one year

2. Marketing budget and resources

• This section identifies

  • The total amount of money allocated for marketing

  • The tools and staff needed for advertising, online campaigns, packaging and research etc

• It ensures spending is controlled and prioritised according to objectives

3. Market research

• Research provides insight into

  • Customer needs and behaviour

  • Competitors’ strengths and weaknesses

  • Market trends

• It includes both:

  • Primary research, such as surveys, focus groups and product trials

  • Secondary research, such as government and industry reports

4. The marketing mix (4Ps)

• This section outlines the business’s approach to

  • Product

    • What is being sold, including decisions related to quality, design and packaging

  • Price

    • What pricing strategy will be used, such as competitive, penetration or dynamic methods

  • Place

    • Where and how the product will be distributed, such as online or through retail outlets

  • Promotion

    • How the product will be promoted through, for example, social media, the use of discounts or advertising

Benefits and limitations of marketing planning

• Creating a marketing plan can help a business work more effectively and stay focused on its goals

• However, plans may become outdated quickly or take too long to create, limiting their usefulness

Evaluating marketing planning