Check out this marketing plan introduction example that you can use as a guide to write your own easily and save time.
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The Marketing Plan Introduction Example
This sample is part 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. It will help you to write a marketing plan easily. The introduction includes the background as well as the purpose and objectives, as follows:
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. Additionally, 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. The executive summary of the sample gives more details on this.
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. These it needs to fund the new mortgage plan. By this it will strengthen its position in the local industry and thereby achieve greater levels of profitability every year. To attain this, the project focused on the following objectives:
- Retain existing customers.
- Win potential customers in the target market by different strategies including social media.
- Raise $65 million in deposits as part of the marketing budget 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.
- Improve ROA from the current 0.56% to 0.95% at the end of year 2004.
To accomplish these objectives, the project, after analyzing the external and internal environments of the Bank, identified the marketing strategy and marketing team 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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