Transcript Essentials of Marketing, 8th edition

Chapter 18:
Developing Innovative
Marketing Plans:
Appraisal and Challenges
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies, Inc., 2000
Irwin/McGraw-Hill
Chapter 18 Objectives
When you finish this chapter, you should
1. Understand, in detail, all of
the elements of the marketing
strategy planning process and
the strategy decisions for the
four Ps.
2. Know how to prepare a
marketing plan and how it
relates to the marketing
strategy planning process.
3. Understand why marketing
must be evaluated differently
at the micro and macro levels.
18-2
4. Understand why the text
argues that micro-marketing
sometimes costs too much.
5. Understand why the text
argues that macro-marketing
does not cost too much.
6. Know the key challenges
marketers face as they work
to develop ethical marketing
strategies that serve
consumers' needs.
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies, Inc., 2000
Irwin/McGraw-Hill
Strategies, Plans, and Programs
Strategy
Plan
Program
18-3
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies, Inc., 2000
Irwin/McGraw-Hill
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 18-1
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies, Inc., 2000
Irwin/McGraw-Hill
SWOT Analysis
Strengths
Internal
Factors
Weaknesses
18-5
Opportunities
Strategy
Planning
External
Factors
Threats
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies, Inc., 2000
Irwin/McGraw-Hill
Micro-Marketing Costs
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18-6
Lack of Interest
Poor Blending of
the Four Ps
Lack of Understanding
of the Marketing
Environment
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies, Inc., 2000
Irwin/McGraw-Hill
Macro-Marketing Criticisms
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18-7
Undesirable Practices
Advertising Wastes
Resources
Consumers are
Manipulated
Superficial Change
Not Enough Social
Value
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies, Inc., 2000
Irwin/McGraw-Hill
Challenges Facing Marketers
More Social
Responsibility
International
Competition
Continuous
Improvement
Natural
Environment
Some
Key
Challenges
Facing
Marketers
Market-Oriented
Planning
18-8
Consumer
Privacy
Role of
Law
Consumer
Responsibility
Rapid change due
to Internet, I.T.
For use only with Perreault and McCarthy texts.
© The McGraw-Hill Companies, Inc., 2000
Irwin/McGraw-Hill