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Transcript
Marketing 333 Introduction to Marketing Chapter 18 Developing Innovative Marketing Plans Definition of Marketing • The process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that will satisfy individual and organizational objectives The Marketing Game • Over 50,000 branded products and services • 40-60% of all product launches fail • Consumers perceive 70% of brands in a category as the same • 54% of all investments in brand communications have no effect Developing Innovative Marketing Plans • A blueprint for the marketing strategy – – – – – – The marketing mix Target market Positioning Timing Costs and Revenues Explanation of decisions 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 SWOT Analysis Strengths Internal Factors Weaknesses 18-5 Opportunities Strategy Planning External Factors Threats 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.
