Individual project. MARKETING PLAN FOR TOLL THROUGH COMPANY

 112STUDENT GUIDE FOR WRITING A MARKETING PLAN
 1. Company Description
The company description should highlight the recent history and successes of theorganization.
 2. Strategic Focus and Plan
While not included in all marketing plans, the Strategic Focus and Plan sets the strategicdirection for the entire organization.
a. Mission/Vision
The Mission/Vision statement is a qualitative statement that specifies the markets andproduct lines in which a business will compete. A mission statement can dramaticallyaffect the range of a firm’s marketing activities by narrowing or broadening thecompetitive playing field. An effective mission statement must be clear and direct.See pages 32-33 in the text.
b. Goals
The Goals section of a marketing plan sets both financial and non-financial targets.Goals should be in quantitative terms, where possible, to facilitate measuring thecompany’s future performance. See pages 34-35 in the text.
 An example of a non-financial goal: “Philip Morris will diversify its product linesto achieve 50 percent of sales revenue in non-tobacco products in the next fiveyears.”
 An example of a financial goal (note it is specific and measurable): “XYZ Inc. willincrease sales from $10 million in 2005 to $15 million in 2010.”c. Core Competency and Sustainable Competitive Advantage
 Whereas the mission defines the scope of a business or business unit and the goalsdefine its strategic performance dimensions, its business unit competenciesdetermine the means for achieving success.
 An example of a competitive advantage: “McDonalds’ competitive advantage is itslarge number of restaurants, more than double its competitors, making it moreconvenient for customers than any other fast food restaurant in the world.” 113
3. Situation Analysis
The essence of the situation analysis is taking stock of where the firm or product has beenrecently, where it is now, and where it is headed. The situation analysis is the first of threesteps in the planning stage.
a. SWOT Analysis
 The SWOT analysis is an effective shorthand summary of the situation analysis.The acronym is used to describe an organization’s internal Strengths andWeaknesses and its external Opportunities and Threats. This analysis provides asolid foundation to identify subsequent actions in the marketing plan.
 The SWOT analysis can be effectively presented in a tabular format, followed by atext discussion that elaborates on the information in the table.
 An analysis to identify internal strengths and weaknesses usually includes thefollowing areas in an organization:
When analyzing: Consider:Management experience level, management style, sizeOfferings uniqueness, quality, priceMarketing type and scope of marketing planPersonnel quality and experience of workforceFinance sales revenuesManufacturing quality and dependability of suppliersR & D plans for continual product improvement, budget An analysis to identify external opportunities and threats usually includes thefollowing factors:When analyzing: Consider:Consumer/Social size and stability of marketEconomic current and projected economic situation of marketTechnological the effect of technology on any facet of the businessCompetitive number and size of competitorsLegal/Regulatory the effect of legal/regulatory issues on any part of thebusiness  114b. Industry AnalysisThe industry analysis section should provide the backdrop for a more detailed analysisof the competition, the company, and the customer. An in-depth analysis will give bothinternal and external readers of the plan confidence in the company’s ability tounderstand its own industry.c. Competitor AnalysisAn effective analysis of the competition should demonstrate that the company has arealistic understanding of its major competitors and their marketing strategies. As inwith the industry analysis, a realistic assessment makes readers feel confident that themarketing actions in the plan are well grounded.d. Company AnalysisThe company analysis provides details of a company’s strengths and marketingstrategies that will enable it to achieve its marketing goals.e. Customer AnalysisA thorough customer analysis answers the question: “Who are our customers?”Understanding your customers and what they want is critical in satisfying them andproviding genuine value.4. Market-Product Focusa. Marketing and Product Objectives Setting product objectives and identifying target market segments significantlyincreases the chance that a product will be successful. The objectives and goals should be stated in measurable terms so that they can bemeasured during the program implementation and control phases of the marketingplan.b. Target Markets Because an organization cannot satisfy the needs of all consumers, it mustconcentrate its marketing efforts on the needs of specific niches or target markets. Consider why a particular target market was selected and how the product orservice meets the needs of the target market.c. Points of DifferencePoints of difference are those characteristics of a product that make it superior tocompetitive substitutes. The greatest single factor in a new product’s failure is the lack ofsignificant points of difference. 115d. PositioningA product’s unique points of difference are communicated by way of a positioningstrategy.5. Marketing ProgramEverything that has gone on before in the marketing plan sets the stage for the marketingmix actions—the 4 Ps—covered in the marketing plan. Product, price, promotion, andplace (distribution) strategies are all detailed in the Marketing Program section of the plan.When describingthese strategies: Include these elements:Product features, brand name, packaging, service, warrantyPrice list price, discounts, allowances, credit terms, paymentperiodPromotion advertising, personal selling, sales promotion, publicityPlace/distribution outlets, channels, coverage, transportation, stock level6. Financial Data and ProjectionsAll the marketing mix decisions covered in the marketing program have both revenue andexpense effects. In this section of the marketing plan, both past and projected financialdata are included. A key indicator of what future sales will be is to examine past sales. SeeChapter 9.