1-1 Marketing Plan

1-9 SWH

Marketing plan objectives 5-6 Marketing plan objectives Specific, time-defined, measurable Realistic yet challenging Consistent with mission and goals Appropriate for environment, opportunities, and threats SWH

Types of marketing plan objectives 5-7 Types of marketing plan objectives Marketing objectives To manage key relationships/activities Financial objectives To attain certain financial results Societal objectives To achieve social responsibility results SWH

Developing Product and Brand Strategy 6-1 Developing Product and Brand Strategy

What can be marketed as a product? 6-2 What can be marketed as a product? Tangible goods Services Places Ideas Organizations People SWH

6-3 SWH

Features, benefits, and services 6-4 Features, benefits, and services Features Enable product to perform its function Benefits Need satisfaction that customers want Related services Deliver benefits valued by customers SWH

Packaging and labeling 6-6 Packaging and labeling Packaging For convenience and product safety Labeling To communicate contents, uses, warnings SWH

6-7 Product life cycle Introduction Growth Decline Maturity SWH

New product development process 6-8 New product development process Idea generation Screening of ideas Initial concept testing Business analysis Prototype design Market testing Commercialization Monitoring reaction SWH

How customers define value 8-3 How customers define value The difference between: total perceived benefits (features, quality, service, performance, etc.) and total perceived price (purchase price, repair costs, shipping costs, etc.) SWH

External influences on pricing 8-7 External influences on pricing Customers Perceptions of value, behavior, attitudes Competitors Alternatives available to customers Channel members Channel profit considerations Legal, regulatory, ethical concerns Decision consequences Presentation © 2005 Marian Burk Wood - all rights reserved

9-3 Planning for IMC Presentation © 2005 Marian Burk Wood - all rights reserved SWH