Marketing Plan For The Whirlpool Corporation Essay
1. Internal growth – This is growth from within the corporation using internal resources. This would include focusing on new products or a new marketing plan. (Chand 2016)
a. Market penetration: Whirlpool saw a decrease in business by 2012 in the U.S. market but has increased market penetration through efforts such as new products and renewed advertising. In 2014, from the Whirlpool Fact Sheet in the middle of a multi-year recovery effort, Whirlpool expected to increase business in the U.S. five to seven percent over 2013, which was an increase of nine percent over 2012.
b. Market development: Whirlpool has been concentrating on increasing their profile in India and other emerging markets in Europe, the Middle East and Africa.
c. Product Development: They have been “investing in their products and brands to drive consumer preference” (Whirlpool Fact Sheet) for example, by making a Kitchen Aid blender with a preset “smoothie” button; or an oven with a timer that supports automatic shutdown.
d. Sustainability strategy: Whirlpool built wind turbines at their plant in Findlay Ohio, making them one of the first Fortune 500…