The executive summary is a miniature version of your marketing plan

Lesson 8

The executive summary is a miniature version of your marketing plan – an elevator pitch of sorts. It has a section that summarizes each component that your marketing plan covers in detail. Keep the executive summary to less than one and a half pages. There is no set guideline for how long the summary should be, but it should concisely highlight the most important information. For each section, think about summarizing with one question in mind: Why is this information important to the success of my business?

Your executive summary should contain subsections that correspond with the marketing plan subsections. These may include company overview, product description, management, competitive analysis, customer analysis, performance evaluation and strengths, weaknesses opportunities and threats.

Ensure you write in paragraph form and sufficiently elaborate on the topics to be covered. One or two brief sentences in each area will not be sufficient. In addition, as research will be required, ensure you include proper documentation of your sources

SAMPLE SOLUTION

An Executive Summary of a Marketing Plan

Company Overview 

This marketing plan aims to help Ginacah watch to expand its market base and launch new products into the market successfully. Based on the evaluation of the market strength, the business will introduce the Linaissy watches since half of the watch are on higher demand for people aged between 18 to 34 years. There is a high likelihood that the group will purchase more watches than the old age group; therefore, this is the primary market segment. 

Product description

Ginacah will introduce a new product, in this case, the innovative Linaissy watch. The company anticipates using penetration prices and extensive advertisement coupled with expanding its distribution channels to ensure that the product expands the market share and increases both growth and revenue. The business has strong product benefits compared to the current market setting. 

Management  To achieve the set objectives, the business will offer the watches a unique design and be priced at the average market price of $45. Another important aspect of management…