Page 60 - Foundations of Marketing

Planning, Implementing,

and Evaluating Marketing

Strategies

O B J E C T I V E S

1. Understand the strategic
planning process.
2. Examine what is nec-
essary to effectively
manage the implemen-
tation of marketing
strategies.
3. Describe the major
elements of strategic
performance evaluation.
4. Understand the © iStockphoto.com/jfmdesign
development of a
marketing plan.

M A R K E T I N G I N S I G H T S

Procter & Gamble Plans for More Billion-Dollar Brands

Cincinnati-based Procter & Gamble introduced its get much-needed sleep. By promoting the product’s
first product, Ivory Soap, more than 175 years ago. innovative features and the benefits for babies and
Today, the company rings up $ 84 billion in worldwide parents, Procter & Gamble was able to increase
annual sales of personal care and household prod- yearly sales of Pampers beyond $ 10 billion.
ucts. From Pampers disposable diapers to Pantene Procter & Gamble’s brand managers are respon-
shampoo, Duracell batteries to Downy fabric soft- sible for setting specific objectives for their prod-
ener, its many billion-dollar brands can be found in ucts, formulating plans to achieve these objectives,
every supermarket, coast to coast. and establishing performance measures. They can
Over the years, Procter & Gamble has devel- call on a team of “innovation facilitators” for guid-
oped a reputation for marketing excellence because ance in exploring new marketing possibilities.
of its intense focus on satisfying customer needs. And if a plan doesn’t achieve the expected results,
For example, as part of its plan to boost sales of they’re ready to get back on track by making
Pampers, company researchers moved in with changes to the marketing mix. Watch for more bil-
families to see how parents of infants and tod- lion-dollar brands as Procter & Gamble applies
dlers actually use disposable diapers. The insights its marketing know-how to boost its market share
they gained prompted Procter & Gamble to make and sales year by year, especially in developing
Pampers more absorbent so babies would sleep countries where the company projects significant
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comfortably through the night—and parents could future growth.

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