1. Marketing 333 Introduction to Marketing Chapter 18 Developing Innovative Marketing Plans

2. 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

3. 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

4. Developing Innovative Marketing Plans A blueprint for the marketing strategy –The marketing mix –Target market –Positioning –Timing –Costs and Revenues –Explanation of decisions

5. Customers Needs and other Segmenting Dimensions Company Objectives & Resources Competitors Current & Prospective S.W.O.T. TargetMarket Product Place Promotion Price External Market Environment Technological Political & Legal Social & Cultural Economic Segmentation & Targeting Differentiation & Positioning Narrowing down to focused strategy with quantitative and qualitative screening criteria Exhibit 18-1 18-4 Overview of the marketing strategy planning process

6. External Factors Strategy Planning Internal Factors StrengthsOpportunities Weaknesses Threats 18-5 SWOT Analysis

7. Challenges Facing Marketers Consumer Privacy International Competition Continuous Improvement Role of Law Some Key Challenges Facing Marketers More Social Responsibility Natural Environment Market-Oriented Planning Consumer Responsibility 18-8 Rapid change due to Internet, I.T.