Marketing Plan: How to win in Asian markets with Definitions, Steps, and Key Concepts

📌What is a marketing plan? 

A marketing plan is a document that outlines how a business will attract and keep customers. It details the goals, strategies, and actions the company will take to promote its products or services. The plan includes market analysis, identifying the target audience, choosing the right channels for promotion, and planning advertising campaigns.

📌Why do you need a marketing plan? 

A marketing plan is crucial because it provides a clear roadmap for promoting your business and reaching your goals. It helps you stay focused on what matters most, use resources effectively, and track results. Without a marketing plan, you risk spending money on strategies that don’t work, missing important opportunities, and losing customers. A well-thought-out marketing plan keeps your business organized, helps you achieve better results, and increases revenue.

1. The essence of a marketing plan

Every large and rapidly growing company has its own marketing plan, which is essential for achieving the organization's ultimate goals. This plan involves a comprehensive approach to analyzing the current state of the business, detailing future marketing actions, and establishing communication strategies. It's important to consider the cultural and social characteristics of the region, such as incorporating local holidays and symbols, which help create a strong emotional connection with consumers. An essential part of the marketing plan includes an estimated budget for each expense category, a list of potential risks, and a contingency plan.

The result is a document outlining the company's marketing activities for a specific period. Typically, large companies plan their marketing activities over a horizon of six months to a year. In Asian countries, the high level of digital literacy and widespread use of mobile devices necessitate the inclusion of mobile strategies and online platforms, such as WeChat in China and LINE in Japan and Thailand.

There is no strict guideline for creating a marketing plan. Its format often depends on the company's corporate standards and management's input. The final document is usually prepared using Microsoft Word, Microsoft PowerPoint, Google Docs, or Google Sheets. It's also crucial to adapt marketing materials to local languages and cultural norms to enhance brand perception and trust.

The developed marketing plan must be approved by the company's top management, and its implementation and monitoring fall under the responsibility of the marketing department head. Not every team member is necessarily familiar with the final version of the plan.

A company's marketing plan is as important to its strategic development as its production and financial plans. The only difference is its relative or provisional nature, as much of it is based on assumptions. In fast-paced markets like those in Asia, it's vital for the marketing plan to be flexible and adaptable to changes. The accuracy of these assumptions can be determined empirically through testing and adjusting strategies in real-time.

2. Goals of creating a marketing plan

The goal of a marketing plan is to organize marketing activities in one place, making it easier to monitor their execution and measure results. With a well-structured marketing plan, you can:

• Forecast sales results: The document outlines projected sales, profits, return on investment, and promotional costs. These metrics aid in making management decisions beyond marketing, such as payroll, investments in real estate and technology, and purchase volumes. It's also important to consider regional economic trends and market characteristics, such as seasonal demand fluctuations and consumer preferences in various Asian countries.
  
  
• Organize transparency in the marketing department: The plan specifies the timelines for planned marketing activities, their executors, and the funding amounts. The department head can see each employee's workload and performance. Additionally, considering the impact of social networks and messengers, such as KakaoTalk in South Korea, Zalo in Vietnam, or WhatsApp in India, on communication and department organization is crucial.
  
  
• Identify growth opportunities and vulnerable areas: This helps enhance the company's competitiveness by identifying weak service areas, product quality issues, and organizational reputation, as well as unprofitable promotion channels. The plan includes strategies for planned changes, implementation, and result measurement. Using local data and analyzing consumer behavior is important to find the most effective ways to improve.

Additionally, a marketing plan addresses issues such as:

• Conducting an analysis of the company's current state: This includes considering specific market conditions and economic factors that impact businesses in different Asian countries.
  
  
• Identifying ways to reduce costs while maintaining product quality and associated services: It's important to apply local methods and technologies that might be more effective and economical in the Asian context.
  
  
• Systematizing and improving business processes: This involves adapting business processes to the cultural and economic characteristics of the region.
  
  
• Optimal allocation of material and intangible resources: This takes into account the availability and cost of resources in various Asian countries.
  
  
• Risk management: This includes analyzing specific risks related to the political and economic situation in Asian countries.
  
  
• Increasing company competitiveness: Focusing on local competitive advantages and employing regional strategies.
  
  
• Developing new products and services: Considering local preferences and cultural nuances in product development.
  
  
• Expanding into new markets: Analyzing and selecting the most promising markets in Asia for business expansion.
  
  
• Modifying or enhancing the business model: Adapting the business model to the specific conditions of Asian markets.
  
  
• Addressing investment attraction issues to increase company value: Considering the specifics of attracting investments in Asian countries and using regional financial instruments.

3. Pros and cons of writing a marketing plan

Like any tool, a marketing plan has its advantages and disadvantages.

One major advantage of this tool is that its use helps generate revenue. With a complete understanding of all the business processes happening within the organization, you can see how each result impacts profit. This is especially important in Asian markets, where competition can be very high and small details can play a key role in business success. Applying local strategies, such as considering local consumer preferences and using popular digital platforms, enhances the effectiveness of marketing efforts.

Additional advantages include:

• Sales and cost forecasting: This allows for more accurate budget and resource planning, which is particularly relevant in the rapidly changing conditions of Asian markets.
  
  
• Improving transparency and organization in the marketing department: Clearly defined tasks and deadlines help optimize work and increase employee accountability.
  
  
• Identifying growth opportunities and vulnerable areas: Analyzing and addressing weaknesses enables the company to be more competitive in the market.

If we talk about the disadvantages of a marketing plan, it should be noted that its creation requires a certain amount of time and financial resources. These costs are indeed short-term, but for small organizations with limited financial plans, it can be a significant burden. For instance, startups in Asian countries may face resource constraints when trying to fully implement all aspects of a marketing plan.

Other disadvantages include potential inaccuracies in results, lack of guarantees, and increased costs. In the Asian context, this can be particularly relevant since market conditions can quickly change due to economic, political, and cultural factors. All these drawbacks are closely linked to risks that may arise in the course of the company's activities. For example, changes in legislation in China or fluctuations in currency exchange rates in India can significantly impact results.

The main point to understand when developing a marketing strategy plan is that there are both pros and cons to this tool. Being prepared for these cons can help mitigate their negative impact. To minimize risks in Asian markets, it's essential to conduct regular analyses and adapt the plan according to current conditions. Including data on the use of messengers like KakaoTalk in South Korea or Zalo in Vietnam can help create more accurate and effective strategies that consider local specifics. 

Proper use of a marketing plan allows not only for increased profits and competitiveness but also for the reduction of potential risks by adapting to the dynamic conditions of Asian markets.

4. Planning horizons in a marketing plan: short, medium, and long-term strategies

Planning horizons depend on the approach taken. Traditional planning involves dividing plans based on the period they cover, which can be short-term, medium-term, or long-term. It's essential to understand that there is no universal approach to determining planning periods. It's important to consider specific market conditions and the economic situation in Asian countries, such as high economic growth rates and rapidly changing consumer preferences.

Long-term planning focuses on the overall assessment of business and economic activities over several years. The organization's strategy aims to achieve relevant long-term goals, which is particularly important in industries such as defense, aerospace, and pharmaceuticals, where the time to market for new products can range from 5 to 10 years. In Asian markets, especially in fast-growing economies like China and India, long-term planning should consider both domestic and international trends and investment opportunities. 

The most practical and common approach is medium-term planning, which spans from 2 to 5 years. Organizations typically use three-year periods. This planning horizon is considered the most realistic because the actual conditions can be predicted with the least deviations over such a term. In the Asian context, factors like technological innovations and the rapid development of digital platforms can significantly alter market conditions within a few years. For instance, the popularity of mobile payments in China, where the transaction volume through Alipay and WeChat Pay exceeded $41 trillion in 2022, requires companies to adapt their strategies to effectively use these platforms.

Short-term planning typically covers up to one year and involves developing a business plan with a detailed description of expenses for each cost item. This planning considers the company's immediate activities. Short-term planning is usually the most accurate and detailed. If any unexpected events occur, it can be adjusted accordingly. In Asian markets, short-term planning can be particularly important for adapting to changes in consumer behavior and economic conditions, such as seasonal demand fluctuations and new regulatory norms. For example, in Japan, short-term planning can account for seasonal changes in demand related to holidays and traditions, such as New Year and Golden Week, when sales surge significantly.

For many, the question remains, "How long should a marketing plan be depending on the type of organization?". The answer depends on several factors. If the company is small and just entering the market, it is recommended to develop a one-year plan aimed at building the organization's image and brand recognition. In Asian countries, where the market can be saturated with competitors, it is crucial to adapt quickly and find unique promotional approaches, such as collaborating with local influencers and using popular social media platforms. In China, these might include platforms like Douyin (the Chinese version of TikTok) or Weibo, where local influencers can significantly boost brand recognition.

All actions, from product or service production to marketing campaigns, should be directed toward this goal. A well-structured document details all objectives and tasks for thorough development at each stage. Accounting for the cultural characteristics and preferences of the target audience in different Asian countries plays a key role in successfully executing short-term plans.

Large organizations often develop a marketing plan with a medium-term horizon but with annual adjustments. In this case, it is essential to consider the possibility of modifying the document in response to unforeseen circumstances. In the Asian context, this may include responding to rapid changes in legislation, economic fluctuations, and new consumer behavior trends. Regular monitoring and strategy adaptation allow large companies like Samsung or Sony to remain competitive in the rapidly changing Asian markets.

5. 5 popular marketing plan models

There are several developed marketing models. However, their immediate implementation in an existing organization is not possible without certain modifications. These models serve more as algorithms for developing a specific plan in a particular situation.

> Classic plan

This model contains sections that are familiar to marketers, detailing the planning and control of marketing activities:

• Situational analysis of clients, competitors, and sales channels: This includes market analysis, customer segmentation, and studying the competitive environment while considering local specifics. For example, in China, this might involve researching activity on platforms like Tmall or JD.com;
  
  
• Organization's goals: For instance, increasing production volume, reducing labor costs, etc. In Japan, this might include goals to enhance quality and innovation, which are key factors in Japanese business culture;
  
  
• Defining tactics: This is a detailed action plan for promoting the product, including digital strategies and the use of local platforms like WeChat and LINE;
  
  
• Funding allocation: The budget the company allocates to achieve specific goals, including budget distribution for advertising campaigns, marketing research, and infrastructure development;
  
  
• Monitoring deadlines and executives: This involves using project management and reporting software like Asana or Trello, which can be adapted for local needs.

Download our detailed template for a classic marketing plan for free! It includes all the necessary elements: timelines, responsible parties, goals and objectives, and budget calculations. The template is easy to use and suitable for businesses in any niche. Get a tool that will help you effectively plan and control marketing activities, achieving your set goals with maximum precision and confidence.

Download the marketing plan template now

> P-Planing

P-planning is a popular methodology consisting of 4-9 elements, better known as 4P, 5P, etc. The "P" stands for the first letter of the English words. The creator of this mix, Noel Borden, first published his work in 1964. This methodology has never been complete and is constantly being refined as modern marketing approaches use new tools. The most common version of the mix includes the following elements:

• Product. Analysis of functionality, appearance, competitive advantage, range, support, service, and after-sales service. In South Korea, for example, this may include innovative products in the electronics sector, such as smartphones and home appliances from Samsung and LG.
  
  
• Price. This element addresses the product's value to consumers, its cost, the price of competing products, discount policies, and expected profit. In India, where price sensitivity is high, it is important to consider pricing strategies and discount offers.
  
  
• Place. This block considers the markets where the product will be offered, distribution channels, delivery methods, and product display. In Asia, it is important to consider specific channels such as physical stores and online platforms like Shopee and Lazada.
  
  
• Promotion. Includes all advertising activities related to a specific product, including the use of local social networks and messengers such as KakaoTalk in South Korea and Zalo in Vietnam.

Additionally, the mix can include:

• Physical Evidence: The physical environment.
• Process: The method of conducting a transaction, especially in B2B.
• People: Individuals responsible for promoting the product.
• Partners: Partners involved in the project's implementation.

> Boston Consulting Group (BCG) matrix

The Boston Consulting Group (BCG) Matrix is the most popular model studied in regional universities and MBA schools. The primary purpose of this matrix is to understand all the resources owned by the company. 

Products and various services are categorized based on their profitability and potential:

• Stars. These are successful products with high growth rates and good sales. However, these offerings usually transition to other segments over a short period. Examples include successful mobile apps and electronics in China and South Korea.
  
  
• Dogs. These are products that are unlikely to become successful high-value items with significant sales volumes. For example, products that have not gained popularity in the saturated Japanese market. 
  
  
• Cash Cows. These are products that have reached their peak in development. They are the market leaders and occupy a large share of the market. They operate with a high supply level, but growth rates are not evident. Examples include long-time bestsellers in the cosmetics category in South Korea, such as products from Amorepacific.
  
  
• Question marks. These are rapidly growing products that do not yet have high sales levels. They require specific financial investments to increase profitability. This group is also known as "wild cards". Examples include new tech gadgets in India that require additional investments for growth.

> SOSTAC

This popular model has gained recognition due to its flexibility and is widely used in companies of various orientations. SOSTAC consists of the following elements:

• Situation analysis – a current situational analysis of the organization. It examines the unique selling proposition, competitive advantages, resources, distribution channels, potential customers, and expected profit. It includes an analysis of local markets and consumer behavior in Asia.
  
  
• Objectives – the company's ultimate goals. For example, increasing product sales by 30% in six months. For the Asian market, this can be adapted to specific conditions, such as rapid expansion into new regions.
  
  
• Strategy — the strategy for achieving the goals. This involves breaking down the goal into tasks and achieving the desired result by solving them sequentially. It may include a digital marketing strategy focused on platforms popular in Asia.
  
  
• Tactics – a set of tools. In internet marketing, these can include email services, website analysis tools, query parsers, and target audience analysis tools. Examples include using WeChat for marketing campaigns in China.
  
  
• Action – steps to achieve the goals. This includes the plan, schedule, funding, executors, and deadlines. It is important to include activities specific to local markets, such as participating in festivals and exhibitions.
  
  
• Control – preparing KPIs to evaluate the results of various activities. For example, how often the company was mentioned on social media, or the increase in email subscribers. 

Each action is allocated one page, and each module is subjected to detailed description and elaboration.

> One-page marketing plan

A simplified version of a standard plan, primarily used for new projects or small businesses. This document details the process of attracting customers through sales funnels:

• Potential Customer. Knows nothing about the brand. The business's task is to find information channels and create relevant messages for customers. In Asia, this might include using social networks like TikTok and Instagram, as well as participating in local events and festivals to increase brand awareness.
  
  
• Lead. Has some awareness of the brand but has never purchased its products. The business's task is to familiarize the potential customer with the product's value, gain their trust, and turn them into a real customer. It's important to use local influencers and platforms popular in the region, such as Weibo and LINE, to build trust.
  
  
• Customer. Knows the brand and has made multiple purchases. The business's task is to retain the customer and increase their purchase volume. This includes loyalty programs and special offers tailored to local preferences, such as bonus points and discounts during local holidays like Diwali in India or Lunar New Year in China.
  
  
• Repeat Customer. Regularly buys the brand's products or services and participates in loyalty programs. The business's task is to maintain high satisfaction levels, offer exclusive products or services, and encourage the customer to attract new buyers. Using personalized offers and privileges for repeat customers, such as early access to new products or invitations to exclusive events, can strengthen brand loyalty.
  
  
• Brand Advocate. Not only a repeat customer but also actively recommends the brand to friends and on social media. The business's task is to maintain and develop these relationships by encouraging advocates through special programs and providing platforms for sharing their experiences. In China, for example, WeChat groups and mini-programs can be used to build a community around the brand.
  
  
• Returning Customer. These are customers who stopped purchasing but are now showing interest again. The business's task is to understand the reasons for their initial departure and offer improved conditions, promotions, or new products to regain their interest. For example, conducting surveys to identify reasons for leaving and offering personalized discounts or new products that match their preferences.

Using different marketing plan models allows companies to effectively adapt their strategies to the specific conditions of Asian markets. Each of the five popular models — Classic plan, P-planning, Boston Consulting Group (BCG) Matrix, SOSTAC, and One-page marketing plan — has its unique advantages and can be adapted to achieve maximum efficiency in various situations.

6. Structure of a marketing plan

A marketing plan consists of sections that are closely interconnected. Like any other document, it should have a clear structure. Typically, the components of a marketing plan are as follows:

• Annotation

This section is mainly intended for the company's management. It briefly outlines the main recommendations and goals. A quick read allows for a fast understanding of the document's overall direction. Following the executive summary, there is usually a table of contents.

• Current Situation

This section describes the target audience, market situation, and the company's orientation within it. The information is usually presented under subheadings, such as market overview, product description, and competition. 

• Opportunities and Risks

This block contains information about the product's opportunities and the potential dangers it might face. It includes an assessment of the expected damage from each risk. It's important to consider the cultural and economic specifics of the region. For example, in India, market sensitivity to price is a key factor, whereas in Japan, the focus is on high quality and innovation.

• Goals

This section outlines the main focus of the plan. Upon reading it, the company's ultimate results in specific markets become clear. For the Asian market, this can include goals like increasing market share, improving brand recognition, or implementing new technologies such as artificial intelligence to enhance customer service.

• Strategies

This section discusses the main directions of marketing activities. Adhering to these strategies shows the company's commitment to achieving its marketing goals. The marketing strategy includes specific strategies for the company's activities in certain markets, the marketing tools used, and the costs of marketing activities. In Asia, this can include adapting to local markets through collaboration with local influencers, such as Weibo stars in China or KOLs (Key Opinion Leaders) in South Korea, and using social networks like Douyin (the Chinese version of TikTok), LINE, and Instagram. It is also worth considering popular platforms like Shopee and Lazada for e-commerce.

• Action Program

This is a clear guide to action. It specifically outlines who should do what and when, what resources can be spent on it, and how actions should be coordinated to fulfill the marketing plan. In other words, the action program is a series of activities under the purview of the marketing and other departments of the company, aimed at achieving the final goals of the marketing plan. For the Asian market, it is important to consider the specifics of local logistics and customer preferences.

• Budget

This section displays the planned marketing expenses, expected income, and net profit of the organization. The income part is determined by the forecasted sales volume and product cost. Costs are summed from production expenses, marketing activities, and product promotion. It is worth noting that marketing expenses should be detailed. In Asia, where digital channels play a crucial role, a significant part of the budget might be allocated to online advertising and e-commerce.

• Control

This section describes the methods and procedures necessary for assessing the success of the plan. It establishes standards that serve as the basis for measuring the progress of marketing plan implementation. 

Using these structural elements allows for the creation of effective marketing plans tailored to the specific conditions of the Asian market, contributing to the achievement of the company's strategic goals and successful business development. 

7. Stages of developing a marketing plan

Developing a marketing plan involves several stages, each critically important for the successful implementation of strategies and achievement of the company's goals. These stages can be adapted to the specific conditions of Asian markets such as China, Japan, South Korea, India, Malaysia and Vietnam, taking into account the cultural and economic characteristics of each region.

Stage 1: Defining the Initial Development Goals of the Company

The initial development goals of an organization primarily depend on its industry, size, financial status, and other factors. For Asian markets, these goals may include increasing market share, enhancing brand recognition, or implementing new technologies. For example, Xiaomi aims to increase its market share in the Indian smartphone market to 30% by 2024.

Stage 2: Marketing Activity Analysis

The analysis of a company's marketing activities consists of three main components:

• Analysis of the External Marketing Environment. This is divided into the analysis of the economic environment and the business environment. It includes studying the state of the economy, socio-cultural conditions, financial policies, technological and socio-economic conditions in the company; the state of the market environment: the overall market condition and development opportunities; the industry-wide state; and the competitive environment.

• Detailed Analysis of Marketing Activities. This includes an analysis of sales volumes, market share, organizational revenue, and the work of marketing departments. It assesses marketing procedures, analyzes all marketing tools, and monitors the activities of the marketing department. 
  
  
• Analysis of the Marketing System. This involves a detailed analysis of marketing goals, strategies, the rights and responsibilities of the marketing department head and related services, as well as the control and planning systems. A key criterion is the analysis of company profits. For example, in South Korea, Samsung recorded a profit of $57 billion in 2023. 

Stage 3: Formulating Hypotheses

At this stage, hypotheses are formulated regarding various external factors that may influence the company's activities. All hypotheses should be classified and presented in specific outlines. Hypotheses can be categorized by different directions, such as the organization itself, a specific industry, the country of operation, etc. These hypotheses might concern changes in legislation, economic conditions, or technological trends in Asian countries. For example, in 2023, the Chinese government introduced new regulations to control internet companies, which could significantly impact Baidu's strategy.

Stage 4: Setting Marketing Goals

An important aspect of marketing activities is defining and organizing goals. Any managerial document in the marketing sphere includes an initial section with simple formulations of all goals, which do not use special approaches or methods. However, to enhance the focus on the final result and improve other processes, it is recommended to apply special approaches and methods. For Asian markets, this could include goals such as increasing the number of subscribers on the LINE platform in Japan (which had over 84 million in 2023) or boosting sales through Shopee in Southeast Asia, where the number of active users exceeds 343 million monthly.

The foundation of marketing goals should focus on the specific qualities of the product or the level of demand for it. If possible, goals should be oriented not towards specific consumers but towards meeting their needs, as consumers are not a constant resource.

Stage 5: Developing Strategies

To make marketing goals achievable, it is necessary to develop specific strategies. These strategies should be detailed in relation to the elements of the marketing mix.

Typically, the formation of pricing policy strategies proceeds as follows: the product's price is set according to the market mechanism; different pricing policies are implemented depending on the markets; and the organization's pricing policy is developed, taking into account competitors' pricing strategies.

The area of delivering the product to consumers includes a strategy that involves: channels through which the product reaches customers; after-sales service for consumers; actions related to reducing delivery costs; and small wholesale distribution of the product.

Upon completing the planning of these stages, it is essential to once again ensure the realism of the set goals and strategies. This is done using various evaluation criteria, such as sales volume, market share, resource utilization, profit, etc.

Stage 6: Operational and calendar planning

At this stage, the strategic marketing plan is translated into actionable planning documentation. Operational and calendar planning involves setting specific deadlines and monitoring their adherence. It is important to consider cultural nuances and seasonal trends, such as holidays and festivals, which can impact purchasing behavior. For example, sales during the Lunar New Year period in China can increase by 30-40%.

Stage 7: Task specification

The stage of operational and calendar planning, or the development of a detailed action plan, is characterized by the specification of marketing strategies into detailed plans and programs for each element of the marketing mix. In other words, action plans must be developed for each company department, aimed at achieving the final goals.

These plans should address the following questions: who, what, where, and when, as well as how and with what resources will they undertake to complete the marketing programs and plans. They should include forms and templates for documentation. For example, Toyota might assign separate teams to promote their hybrid cars in India and Japan, taking into account the specific preferences of these markets.

Stage 8: Developing the Marketing Budget

Creating a budget for marketing activities helps correctly prioritize strategies and marketing goals, make informed decisions regarding resource allocation, and implement effective control.

This document is developed using the "target profit-based planning" approach. The following sequence of actions should be observed:

1. Determine the forecasted market capacity, product market share, product cost, expected revenue, and all types of expenses.
   
   
2. Calculate the gross profit, which should cover the company's expenses, including marketing costs.
   
   

After this, fixed and variable expenses, along with the target profit, must be subtracted from the gross profit. The remaining amount will define the marketing costs. These costs should be detailed by individual elements of the marketing mix.

It is also important to consider the differences in marketing budgets for various Asian countries based on their characteristics. For example: 

• Vietnam. The market is characterized by high price sensitivity. The primary focus should be on digital channels and mobile marketing, as mobile internet is the main means of accessing the network for most of the population. In 2023, the digital advertising market in Vietnam was valued at $1.5 billion. The use of local social media platforms like Zalo, which has over 70 million users, and e-commerce platforms like Tiki and Sendo, should be prioritized. Mobile advertising is especially effective given that over 75% of the population accesses the internet via smartphones. Seasonal promotions during Tet (Lunar New Year) can significantly boost sales, as this period sees a spike in consumer spending.
  
  
• Malaysia. The digital advertising market in Malaysia is growing rapidly, with an estimated value of $650 million in 2023. The internet penetration rate is around 89%, with a significant portion of users accessing the internet via mobile devices. Popular platforms include Facebook (used by 85% of internet users) and Instagram. E-commerce is booming, with platforms like Shopee and Lazada dominating the market. Special attention should be paid to festive seasons such as Hari Raya, which sees increased consumer spending. Mobile advertising and influencer marketing are highly effective strategies in Malaysia, leveraging the high engagement rates on social media platforms.
  
  
• South Korea. Known for its high level of digitalization and internet penetration (over 95% of the population). The main emphasis in the marketing budget should be on social networks (KakaoTalk, which has over 45 million monthly active users, and Naver) and content marketing. In 2023, digital advertising spending in South Korea amounted to $7.2 billion. South Korea's tech-savvy population makes it ideal for sophisticated digital campaigns, including influencer marketing and video content. Seasonal trends, such as increased shopping during Chuseok (Korean Thanksgiving), should be leveraged.
  
  
• Japan. The market demands high precision and quality in marketing communications. It is important to consider local preferences and seasonal trends, such as New Year's holidays and Golden Week. In 2023, digital advertising spending in Japan reached $16 billion, with a primary focus on mobile advertising and video content. Japanese consumers place high value on quality and innovation, making it crucial to emphasize these aspects in marketing campaigns. Platforms like LINE, with over 84 million users, are vital for reaching the Japanese audience.

Considering these localized characteristics and market dynamics will ensure that the marketing budget is both effective and aligned with the specific needs and opportunities in each region.

Developing a marketing plan requires thorough analysis, strategy adaptation, and consideration of local characteristics. Following the stages outlined above, you can create an effective marketing plan that takes into account cultural and economic realities, leading to the successful achievement of your goals and sustainable business growth.

8. Control over execution

Controlling the execution of a marketing plan is critically important for the successful implementation of strategies and the achievement of the company's goals. For Asian markets such as China, Japan, South Korea, and Vietnam, this requires considering local cultural and economic business practices, as well as utilizing specific methods and tools.

To effectively monitor the company's performance, it is necessary to implement a management accounting system that includes key performance indicators (KPIs). These indicators should cover all aspects of marketing and overall business activities and be regularly updated to allow managers to make informed decisions promptly. For example, in South Korea, Naver Analytics can be used to track online activity and user engagement.

A clear formulation of the company's development strategy, including its mission, goals, and paths to achieve them, is essential. This strategy should be supported by specific activities described in the marketing plan. The company's marketing and commercial departments must be actively involved in this process to ensure coordinated actions.

The company leader must regularly monitor the performance of all departments, including the marketing department, in the following areas:

• Daily control using management accounting data. This includes analyzing metrics such as the number of new leads, conversion to sales, and social media activity. For example, in Vietnam, this could involve daily monitoring of campaigns on the Zalo platform.
  
  
• Monthly and quarterly analysis of marketing campaigns. This involves evaluating the effectiveness of conducted activities and their impact on key business indicators. For instance, companies in Japan might analyze the success of campaigns on the LINE platform using engagement metrics and user responses.
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• Annual analysis of overall results. This includes assessing the overall effectiveness of marketing strategies and their contribution to achieving the company's goals. This analysis helps identify strengths and weaknesses and adjust the plan for the following year.

The analysis of the marketing plan execution involves comparing actual events with planned indicators over a specific period. If the real state of affairs is unsatisfactory, necessary adjustments are made. Situations may arise where plans are revised due to the impact of uncontrollable factors.

There are three methods used to analyze the execution of a marketing plan:

• Marketing cost analysis
• Product sales analysis
• Marketing audit

Marketing cost analysis

This method evaluates the cost-effectiveness of various marketing activities. It helps identify which expenses are justified and which are not. For example, in China, a company can use data on advertising costs in WeChat and Baidu to understand which channels are most cost-effective.

Product sales analysis

This involves a detailed study of sales results and their correlation with marketing efforts. For example, in South Korea, companies can analyze sales data on the Coupang platform to evaluate the impact of marketing campaigns.

Marketing audit

A marketing audit is a systematic, critical, and objective evaluation of a company's marketing goals and policies. In Asia, marketing audits must consider local cultural and market conditions.

The Marketing audit process includes six stages:

1. Assigning responsible personnel for the audit.
2. Determining the frequency of the audit.
3. Defining the scope of the audit – horizontal or vertical.
4. Developing reporting forms and templates.
5. Conducting the audit.
6. Presenting the results to management and determining further actions.

To ensure the successful execution of a marketing plan, it's important to link employee salaries to their performance results. This can include bonuses for achieving certain KPIs, such as increasing sales or attracting new customers. 

By following the described methods and approaches, companies can effectively monitor the execution of their marketing strategies, make timely adjustments, and achieve their goals.

9. Execution control on Asian markets: Vietnam and Malaysia

Controlling the execution of a marketing plan in Asian markets such as Vietnam and Malaysia requires a deep understanding of local cultural, economic, and technological landscapes. Companies must tailor their approaches to the unique characteristics of each market to effectively monitor and adjust their marketing strategies.

> Vietnam market

Vietnam's market is characterized by high digital adoption and a young, tech-savvy population. Effective execution control in Vietnam involves several key strategies:

• Digital dominance: With over 70 million internet users, Vietnam's digital landscape is vibrant. Platforms like Zalo and Facebook are widely used. Companies should monitor daily engagement and campaign performance on these platforms using local analytics tools.
  
  
• Mobile marketing: Mobile internet is the primary means of accessing the internet for most Vietnamese. Tracking mobile campaign effectiveness through metrics such as click-through rates (CTR) and conversion rates is essential. Mobile-specific promotions, such as SMS marketing and mobile app ads, should be closely monitored.
  
  
• E-commerce growth: E-commerce platforms like Shopee and Tiki dominate online shopping in Vietnam. Regularly analyze sales data and customer feedback on these platforms to gauge the success of marketing efforts. Seasonal sales events, such as the Tet holiday, can significantly impact sales volumes.
  
  
• Localized content: Cultural relevance is key in Vietnam. Marketing content should be localized to resonate with Vietnamese customs and traditions. Monitor social media sentiment and engagement to ensure that campaigns align with local values and preferences.
  
  
• Influencer collaboration: Influencer marketing is highly effective in Vietnam. Partnering with local influencers on platforms like Instagram and YouTube can amplify brand reach. Track the performance of influencer campaigns through engagement metrics and sales attributed to these efforts.

> Malaysia market

Malaysia presents a unique mix of urbanization and cultural diversity, with a significant portion of the population being active internet users. Effective execution control in Malaysia involves:

• Social Media Integration: Platforms like Facebook, Instagram, and WhatsApp are integral to Malaysian consumers. Use tools like Hootsuite or Sprinklr to monitor social media campaigns and measure their effectiveness through engagement rates and brand mentions.
  
  
• Mobile-First strategy: With a high mobile penetration rate, mobile marketing is crucial. Track the performance of mobile ads, app downloads, and in-app engagement. Campaigns should be optimized for mobile viewing and interaction.
  
  
• E-commerce platforms: Shopee and Lazada are leading e-commerce platforms in Malaysia. Regularly review sales data, customer reviews, and traffic sources on these platforms to understand what drives conversions. Leverage big sales events like the 11.11 and 12.12 shopping festivals for targeted promotions.
  
  
• Festive campaigns: Cultural and religious festivals such as Hari Raya, Chinese New Year, and Deepavali are significant in Malaysia. Tailor marketing campaigns to these events and monitor their performance closely. Sales during these periods can provide valuable insights into consumer behavior and preferences.
  
  
• Digital advertising: Digital advertising spending in Malaysia is growing, with significant investments in search, social, and video ads. Use Google Analytics and local tools like iPrice Insights to track ad performance and ROI. Adjust campaigns based on real-time data to maximize effectiveness.
  
  
• Cultural sensitivity: Malaysia's multicultural society requires a sensitive approach to marketing. Ensure that marketing messages are culturally appropriate and resonate with different ethnic groups. Use sentiment analysis to monitor public reception and adjust accordingly.

> Key strategies for both markets

• Regular reporting: Establish a routine for regular reporting on key metrics. Daily, weekly, and monthly reports should be standardized and automated where possible to ensure consistency and timeliness.
  
  
• Technology integration: Leverage advanced technologies like AI and machine learning to predict trends, automate data analysis, and provide actionable insights. Tools like Google Analytics, Baidu Analytics, and Sprinklr can be integrated for a holistic view.
  
  
• Employee incentives: Link employee compensation to performance metrics. Implement incentive programs that reward employees for meeting or exceeding KPIs, such as increased sales or new customer acquisition.
  
  
• Continuous training: Invest in continuous training and development for marketing teams. Provide access to the latest tools and methodologies, and encourage participation in industry seminars and workshops.
  
  
• Cross-functional collaboration: Promote collaboration between marketing and other departments such as sales, finance, and customer service. This ensures that marketing strategies are aligned with overall business objectives and operational capabilities.

By implementing these strategies and utilizing the described methods, companies can effectively control the execution of their marketing plans in Vietnam and Malaysia, making timely adjustments and achieving their business goals while respecting local cultural and economic nuances.

10. 5 common mistakes when creating a marketing plan

When creating a marketing plan for product promotion, no one is immune to mistakes that can reduce the effectiveness of planning. Below are some of the most common errors, which are especially important to consider in the Asian context.

• Lack of clearly defined goals

One of the most common mistakes is the absence of clearly defined goals. Goals should be specific, measurable, achievable, relevant, and time-bound (SMART). For example, simply stating that you want to "increase sales" is not enough. Instead, the goal should be formulated as "increase sales by 20% in the next quarter by expanding our presence on the Shopee platform in Vietnam." Clearly defined goals help focus the team's efforts and assess progress.

• Ignorance of audience needs

Understanding the target audience is a key aspect of successful marketing. In Asia, where cultural and social differences can be significant, it is important to conduct regular research to update audience profiles. For example, in China, this might include analyzing user behavior on WeChat, which had over 1.2 billion active users per month in 2023. In Japan, it can be beneficial to focus on data from the LINE platform, which is popular among the local population. Inadequate understanding of audience needs leads to ineffective marketing campaigns and loss of customers.

• Incorrect task setting

Another common mistake is setting tasks that are not specific or clear. Tasks should be clearly formulated and easily understood by all team members. For instance, a task like "increase customer engagement" should be specified as "conduct monthly webinars on the Zoom platform to boost customer engagement by 15%." This allows employees to clearly understand their responsibilities and priorities, which is particularly important in multicultural teams often found in Asian companies.

• Ignoring competitor analysis

Competitor analysis is an important element in developing a marketing plan that is often overlooked. Asian markets are rapidly evolving, and competitors may employ innovative strategies that you could adapt. For example, in South Korea, companies might analyze their competitors' marketing campaigns on platforms like Naver and KakaoTalk to understand which approaches work best. Regularly monitoring competitors helps identify best practices and avoid repeating their mistakes.

• Insufficient attention to content localization

Content localization is not just about translating texts into the local language but also about adapting marketing materials to the cultural and social characteristics of the region. For example, in Japan, incorporating local holidays and cultural symbols into advertising campaigns can significantly increase their effectiveness. In Vietnam, it is necessary to consider local customs and traditions to make content more relevant and appealing to the target audience. Insufficient attention to content localization can lead to misunderstanding or even rejection of your brand.

11. Conclusion

Effective creation and control of a marketing plan are crucial to success in Asian markets. It is important to clearly define goals, conduct detailed analyses of marketing activities, and regularly track key performance indicators. This approach allows for timely adjustments and adaptation of strategies to local conditions, contributing to sustainable growth and successful business development.

In today’s dynamic and competitive landscape, understanding the intricacies of each market is essential. By leveraging cultural insights and economic trends, businesses can craft strategies that resonate with local audiences and drive meaningful engagement. Remember, a well-executed marketing plan not only drives sales but also builds a strong brand presence.