Transcript Basic Marketing, 13th edition

Chapter 21:
Developing
Innovative
Marketing Plans
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Chapter 21 Objectives
When you finish this chapter, you should
1. Know the content of and
differences among strategies,
marketing plans, and a
marketing program.
2. Understand, in detail, all of the
elements of the marketing
strategy planning process and
the strategy decisions for the
four Ps.
3. Understand why the product
classes and typical mixes should
be considered when developing
a marketing plan.
4. Understand ways the marketing
strategy and marketing plan is
likely to need to change at
different stages of the product
life cycle.
21-2
5. Understand the basic forecasting
approaches and why they are
used to evaluate the profitability
of potential strategies.
6. Know what is involved in
preparing a marketing plan,
including estimates of costs and
revenue and specification of
other time-related details
7. Understand the different ways a
firm can plan to become
involved in international
marketing.
8. Understand the important new
terms.
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Strategies, Plans, and Programs
Strategy
Plan
Program
21-3
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
1
Overview of the marketing strategy planning process
Narrowing down to focused strategy with quantitative and qualitative screening criteria
Customers
Needs and other
Segmenting
Dimensions
S.
W.
O.
T.
Company
Objectives
& Resources
Segmentation
& Targeting
Product Place
Target
Market
Differentiation
& Positioning
Price Promotion
Competitors
Current &
Prospective
Technological
Political & Legal
Social & Cultural
Economic
External Market Environment
Exhibit 21-1
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies,wdp
Inc., 1999
Irwin/McGraw-Hill
S.W.O.T. Analysis
Strengths
Internal
Factors
Weaknesses
21-5
Opportunities
Strategy
Planning
External
Factors
Threats
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Forecasting Market Potential and Sales
Factor Method
Time Series
Trend Extension
Sales Forecast
Leading Series
Key Terms
and Concepts
in
Forecasting
Market Potential
21-6
Indices
Jury of Executive
Opinion
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Straight Line Trend Projection
Dollars
Trend
Actual sales
0
Years
A trend extension simply extends past experience
into the future. When factors influencing sales are
predictable, this can be useful. A weakness in this
method though is that conditions tend to change
more often than they stay the same.
Exhibit 21-4
21-7
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Spreadsheet “What If” Questions
Exhibit 21-7
21-8
A spreadsheet can be used to compare estimated
sales, costs, and profits for “reasonable”
alternative marketing mixes. Manipulation of any
element of the mix allows for quick assessment of
likely outcomes.
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Planning for International Marketing
Exporting
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Licensing
Contract Manufacturing
Management Contracting
Joint Venturing
Wholly-Owned
Subsidiaries
21-9
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill
Key Terms
S.W.O.T. Analysis
Market Potential
Sales Forecast
Trend Extension
Factor Method
Factor
Time Series
Leading Series
Indices
21-10
Jury of Executive
Opinion
Spreadsheet Analysis
Exporting
Licensing
Contract Manufacturing
Management Contracting
Joint Venturing
Wholly Owned Subsidiary
Multinational Corporations
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies, Inc., 1999
Irwin/McGraw-Hill