STRATEGIC MARKETING FOR YOUR BUSINESS

Marketing Plan Introduction Example - Free

Read about the introduction which forms part of a full sample marketing plan you can download free and edit for use.

This is the sample introduction section of a full example marketing plan available on this site for free download. It covers the background and purpose of the plan, as well details of the marketing objectives. Go to the sample.

 

 

Marketing Plan Introduction Example

Background

The Government of the country, shareholder of Sample Bank Ltd, as part of its proposed housing development program for the country, has directed the Bank to approve 100% mortgage financing for public servants. These mortgages will carry a maximum repayment term of 25 years and will attract interest at 7.75% per annum. A study conducted by Consultants hired by the Government has shown that the demand for financing under the new mortgage plan will amount to $10 million in the first year, $18 million in the second year and $37 million in the third year. The Bank’s five years strategic plan for the period 2001 to 2005 does not include this estimated growth, and the competition for deposits is currently very stiff. The Bank could face great difficulty in meeting the Central Bank’s accepted loans-to-deposits ratio of between 75% and 85% if it fails to secure the required funding. Also, it could miss out on a golden opportunity to increase market share in other areas and to make more money.

Purpose and Marketing Objectives

The purpose of this project is to steer the Bank on a course that will enable it to secure the required deposits to fund the new mortgage plan, while at the same time strengthen its position in the local industry and achieve greater levels of profitability year after year. To attain this, the project focused on the following objectives:

  • Retain existing customers.

  • Win new customers.

  • Raise $65 million in deposits over the next three years.

  • Increase market share of deposits from 35% to 45%.

  • Maintain a loans-to-deposit of 80% (see appendix F).

  • Increase profit by 15%, 22% and 35% respectively over the next three years, and ultimately increase ROA from the current 0.56% to 0.95% at the end of year 2004 (see Appendix G).

To accomplish these objectives, the project, after analyzing the external and internal environments of the Bank, identified the various marketing strategies designed to bring success. It then tabled the implementation and control mechanisms aimed at ensuring that the desired results are achieved.

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