Foundations of Marketing 7th Edition by William Pride,Ferrell

Exercise 15

Successful companies develop strategies for marketing their products. The strategic plan guides the marketer in making many of the detailed decisions about the attributes of the product, its distribution, promotional activities, and pricing. A clear understanding of the foundations of marketing is essential in formulating a strategy and in the development of a specific marketing plan. To guide you in relating the information in this chapter to the development of your marketing plan, consider the following:
Describe the level of market orientation that currently exists in your company. How will a market orientation contribute to the success of your new product?
The information obtained from these questions should assist you in developing various aspects of your marketing plan found in the "Interactive Marketing Plan" exercise at www.cengagebrain.com.