Lecture Basic Marketing: A global-managerial approach: Chapter 21 - William D. Perreault, E. Jerome McCarthy

In this chapter you will: Know the content of and differences among strategies, marketing plans, and a marketing program; Understand, in detail, all of the elements of the marketing strategy planning process and the strategy decisions for the four Ps; understand why the product classes and typical mixes should be considered when developing a marketing plan;...

For use only with Perreault and McCarthy texts.

© The McGraw-Hill Companies, Inc., 1999

Irwin/McGraw-Hill

Chapter 21:

Developing

Innovative

Marketing Plans

Chapter 21 Objectives

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 

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 time­related details 

7  Understand the different ways a  firm can plan to become 

involved in international  marketing. 

8  Understand the important new 

For use only with Perreault and McCarthy texts.

© The McGraw-Hill Companies, Inc., 1999

Irwin/McGraw-Hill

21­3

Strategy

Plan

Program

Strategies, Plans, and Programs

1 Overview of the marketing strategy planning process

Customers

Needs and other

Segmenting

Dimensions

Company

Objectives

 & Resources

Competitors

Current  &

Prospective

S.

W.

O.

T.

Target Market

Product Place

Promotion Price

Segmentation

& Targeting

Differentiation

& Positioning

Narrowing  down to focused strategy  with quantitative and qualitative   screening criteria

For use only with Perreault and McCarthy texts.

© The McGraw-Hill Companies, Inc., 1999

Irwin/McGraw-Hill

External Factors

Strategy Planning

Internal Factors

Strengths Opportunities

Weaknesses Threats

21­5

S.W.O.T Analysis

Trend Extension Leading Series

Indices Sales Forecast

Key Terms and Concepts

in Forecasting

Jury of Executive Forecasting Market Potential and Sales

For use only with Perreault and McCarthy texts.

© The McGraw-Hill Companies, Inc., 1999

Irwin/McGraw-Hill

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 21­4

Years

0

Actual sales

Trend

21­7

Straight Line Trend Projection

sales, costs, and profits for “reasonable” 

Spreadsheet “What If” Questions

For use only with Perreault and McCarthy texts.

© The McGraw-Hill Companies, Inc., 1999

Irwin/McGraw-Hill

Exporting

Licensing

Contract Manufacturing

Management Contracting

Joint Venturing

Wholly-Owned Subsidiaries

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21­9

Planning for International Marketing

S.W.O.T Analysis

Market Potential

Sales Forecast

Trend Extension

Factor Method

Factor

Time Series

Leading Series

Indices

Jury of Executive Opinion

Spreadsheet Analysis Exporting

Licensing Contract Manufacturing Management Contracting Joint Venturing

Wholly Owned Subsidiary Multinational Corporations Key Terms