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Basic Marketing: A Global−Managerial Approach Chapter 21

Chapter 21. Developing Innovative Marketing Plans. 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. | 21. Developing Innovative I Text Marketing Plans Perreault-McCarthy Basic Marketing A Global-Managerial Approach 14 e The McGraw-Hill Companies 2002 1 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. 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 shown in red . Chapter Twenty-One Developing Innovative Marketing Plans Marketing managers recently went through the marketing strategy planning process to develop an innovative plan that created profitable growth for Maytag by offering target customers superior value. Let s look at what they did. This case is longer than others we ve covered to help you review what is in a marketing plan and the process of creating one. As you read the case relate it to the ideas you ve studied throughout the text. Changes in the external environment called for a new strategy. The U.S. Department of Energy DOE was considering new regulations to require that clothes washers use less water and energy. The U.S. uses three times as much water a day 1 300 gallons per person as the average European country. One reason is that front-loading clothes washers have long been place promotion price produc I Text Perreault-McCarthy Basic .