What makes a good marketing plan? You can measure it by the decisions that follow, the business it generates and how well it’s implemented. A brilliant marketing plan that is not executed is worth much less than a mediocre marketing plan that’s carried out.
The plan’s value is in the success of the business.
Within this general framework, successful marketingplans have several key elements. I’ll use examples from the restaurant business because it’s familiar to most people.
1. Market focus
“I don’t know the secret to success, but I do know that the secret to failure is trying to please everybody,” said Bill Cosby. Good marketing plans define target markets narrowly. A restaurant’s target market might be families, couples, baby boomers, teenagers, children, date nights, busy and rushed working people, or some combination.
You won’t find a restaurant that works for a baby boomer couple’s night out also working for families with small children. Choose. Divide and conquer.