Developing a Marketing Vision Statement & Plan

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  • 0:03 Marketing Plans
  • 0:44 Purpose & Development
  • 2:06 Goals & Objectives
  • 2:43 Vision Statement
  • 3:23 Strategy & Tactics
  • 4:22 Lesson Summary
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Lesson Transcript
Instructor: Beth Hendricks

Beth holds a master's degree in integrated marketing communications, and has worked in journalism and marketing throughout her career.

A marketing plan is a crucial piece of your overall marketing efforts. In this lesson, you'll learn how to develop and write a vision statement for a marketing plan and establish marketing goals and objectives.

Marketing Plans

Think of all the plans you create for yourself over the course of a given day. Maybe it's a list of workday tasks, a schedule of college classes, or weekend plans. Maybe it's a household budget, a maintenance schedule for your automobile, or a list of errands you need to run. Whatever the topic, we're constantly making and implementing plans that help us get things done more efficiently.

A marketing plan is no different. It helps to structure the marketing department and make it run more efficiently by implementing a brand or company's goals and objectives. In contrast to many of our informal day-to-day plans, a marketing plan and its accompanying vision statement is a formal written document.. Let's take a look at what goes into developing a marketing plan and a vision statement.

Purpose & Development

Across most industries and inside of most businesses, a marketing plan is created for one purpose: to direct the actions of marketing personnel in a way that integrates with the company's overall objectives. The purpose of a marketing department is to promote the brand or business and increase the bottom line. The marketing plan is developed with these two goals in mind: how can we best promote the brand or business and increase the bottom line, and what is our road map to success?

The main benefit of a marketing plan is that it can serve as a central theme to what the marketing department will implement and work toward throughout the course of the year. By creating a plan, you are identifying what you hope to accomplish during the year and the steps you're going to take to get there.

Typically, a marketing plan spans one year in length, a realistic amount of time that accommodates market changes, shifting customer wants and needs, new technologies, and employees who come and go. Developing a marketing plan is the trickiest part of marketing because you're trying to decide on the best actions to take based on your objectives, and sometimes those change. However, by consulting with your business leaders and discussing what the company's goals are and how they can be reached, you can craft a marketing plan that will carry you through the entire year. Other things to consider include a date for completing the plan and a budget for implementing your strategies.

Goals & Objectives

Clearly defining your goals and objectives is the first step in crafting a good marketing plan. Simply put, what do you want to accomplish? Here are some examples of goals and objectives your business might consider:

  • To expand our customer base
  • To increase sales and revenue
  • To raise awareness of our brand
  • To focus more on existing customers and customer loyalty
  • To expand our reach into a new geographic market
  • To establish a stronger social media and web-based presence

One effective way to help determine your objectives is to ask yourself what your company's goals are.

Vision Statement

Your vision statement is just a written explanation of what your business is all about and what you hope to achieve. Creating a vision statement can help you formulate the rest of your marketing and overall business plans because it guides every decision, choice, goal, and objective you set.

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