Lecture Basic Marketing: A global managerial approach - Chapter 19: Developing innovative marketing plans

In this chapter you will learn: Know the content of and differences among strategies, marketing plans, and a marketing program; know how to use S.W.O.T. analysis and other planning approaches to zero in on a marketing strategy that fits the firm's objectives and resources and meets customers' needs; understand why the product classes and typical mixes are a good starting point for planning;...
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Lecture Basic Marketing: A global managerial approach - Chapter 19: Developing innovative marketing plans Chapter 19:    Developing Innovative Marketing Plans For use with Shapiro, Wong, Perreault, and McCarthy texts. Copyright © 2002 McGraw-Hill Ryerson Limited. Strategies, Plans, and Programs Strategy Plan Program 19­2 For use with Shapiro, Wong, Perreault, and McCarthy texts. Copyright © 2002 McGraw-Hill Ryerson Limited. Strategic Market Planning Process N Narrowing down to focused strategy Customers Needs and other Segmenting Dimensions Segmentation Product Place S. & Targeting Company W. Target Objectives O. Market T. & Resources Positioning& Differentiating Price Promotion Competitors Current & Prospective Technological    External Market Environment Political & Legal Social & Cultural Exhibit 19­1 Economic For use with Shapiro, Wong, Perreault, and McCarthy texts. 19­3 Copyright © 2002 McGraw-Hill Ryerson Limited. S.W.O.T. Analysis Strengths Opportunities Internal Strategy External Factors Planning Factors Weaknesses Threats 19­4 For use with Shapiro, Wong, Perreault, and McCarthy texts. Copyright © 2002 McGraw-Hill Ryerson Limited. Forecasting Market Potential and Sales Factor Method Time Series Trend Extension Leading Series Key Terms and Concepts in Sales Forecast Indices Forecasting Jury of Executive Market Potential Opinion 19­5 For use with Shapiro, Wong, Perreault, and McCarthy texts. Copyright © 2002 McGraw-Hill Ryerson Limited. Straight-Line Trend Projection Trend Dollars 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 19­4 19­6 For use with Shapiro, Wong, Perreault, and McCarthy texts. Copyright © 2002 McGraw-Hill Ryerson Limited. Spreadsheet “What If” Questions 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. 19­7 For use with Shapiro, Wong, Perreault, and McCarthy texts. Copyright © 2002 McGraw-Hill Ryerson Limited. Planning for International Marketing Exporting ?????? Licensing ?????? Contract Manufacturing ?????? ?????? Management Contracting ?????? Joint Venturing Wholly Owned Subsidiaries 19­8 For use with Shapiro, Wong, Perreault, and McCarthy texts. Copyright © 2002 McGraw-Hill Ryerson Limited.