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Format: Ensure that your executive summary is a full summary of the report and n

by | Sep 2, 2022 | Marketing | 0 comments

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Format:
Ensure that your executive summary is a full summary of the report and not an introduction or an overview of what the report will cover
Check your in text references are in (author date) format and both academic and business information is referenced.
Unlike the Sonic version, always write in the third person – ‘the organisation’ rather than ‘we’

Market Audit:
Summarise the audit that you have already completed. Both the Sonic and Pegasus examples include good information however I would recommend you place the competitor section before the SWOT/CSF as it is really hard to complete an effective CSF/SWOT without having audited your comptitors
SWOT/CSF – I highly recommend you attempt the McDonald CSF approach. This allows you to analyse and summarise your market giving it context and it will help you to identify the priorities that you need to address. If you have no competition and decide to use a standard SWOT, ensure you rank each of the elements and have no more than 5 in each box.
If you complete the CSF approach, include the table in the body of the report and you DO NOT need to include a standard SWOT as well.
Product/Distribution – the Pegasus and Sonic templates includes a descriiption of product and distribution in the audit and then repeats some of this information again in the strategy section. I would recommend you do not do this as it is repetitive and uses up your word count so I would use the SCF/SWOT as the summary of the audit and then would move onto assumptions and objectives.
Assumptions – These are not included in the Sonic or Pegasus examples however it is important to state what assumptions underly your plan. This should be a short section and can be a set of 3-4 max bullet points that contextualises your plan. This is certainly important at the moment with Covid, as you will be making assumptions on what will revert to normal post covid and what will remain.

To this point this should account for NO MORE THAN HALF of the word count ( preferably less)

You are now moving into the meat of the report.
Objectives/strategies and controls:
Objectives – Make sure these are SMART – Specific, Measurable, Achievable, Realistic, Timebound. If you can’t measure your results against your objectives how do you know you are on track and how do you take remedial action if you are not.
Make sure your objectives cover the whole 3 years
Strategies – Make sure you cover all of the P’s of marketing. Product, Price, Place and Promotion. If you are in a more service oriented business you can also add in People, Process and Physical Evidence
This is the focus of the plan. What are you going to do over the next 3 years. Make sure there is enough content here.
Don’t DESCRIBE what you are currently doing, propose and justify your strategies. What does this mean? Either propose new strategies to meet your objectives – this could be new product ranges, new channels, withdrawing from markets, changing pricing etc. However you may also chose to continue with an existing strategy. This is fine, however if you do this you still need to justify why. For example if you choose to continue your current premium pricing strategy, justify why you take this positioning and how it helps deliver the objectives.
For all strategies think:
What am I going to do
Why am I going to do this
How will this help deliver the objectives.
Make sure this is a chunky part of the report. This is the actual plan that you are going to implement so it needs detail
Financial results – Include the numbers here – what you expect to achieve and if possible your marketing spend.

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