Marketing Management: Whirlpool's Marketing Strategy

This document discusses Whirlpool's marketing strategy and how it helped them succeed in the global market. It includes their mission and value statement, SWOT analysis, analysis of 5Cs, recommended marketing mix, and more.

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Marketing Management
(Student Name)

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Executive Summary
Marketing strategy play a prominent role in the evolution of business or organization. Most of
the leading businesses lead in the marketplace with the help of effective marketing strategies.
One of the leading companies Whirlpool also has adopted effective marketing strategy that made
them successful in the global market in well-organized manner. Whirlpool offer variety of
products and services related to home appliance that is consider as the basic product for the
consumers. The increase demand in the market attracts maximum number of other companies
such as Samsung, Haier, and LG that created biggest competition to the business. The
corporation faces certain defies in competing their competitors. Therefore, it is required for the
company to focus on their current marketing approaches that can support them to improve their
overall recital of the business in effective and efficient manner.

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Table of Contents
Executive Summary.........................................................................................................................1
Background of company..................................................................................................................3
Mission and Value Statement..........................................................................................................3
Mission.........................................................................................................................................3
Vision...........................................................................................................................................3
Slogan...........................................................................................................................................3
Role of brand in Marketing Strategy...............................................................................................3
Analysis of 5Cs................................................................................................................................4
Company......................................................................................................................................4
SWOT analysis.........................................................................................................................4
Customers.....................................................................................................................................4
Collaborations..............................................................................................................................4
Competitors..................................................................................................................................5
Context.........................................................................................................................................5
Collecting Information for 5Cs........................................................................................................6
Analysis demand of consumers....................................................................................................6
Competitor analysis......................................................................................................................6
Change in the context of business................................................................................................6
Role of collaborators....................................................................................................................6

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Developing Marketing strategy.......................................................................................................7
Choice of target market................................................................................................................7
Value Proposition.........................................................................................................................7
Positioning Statement..................................................................................................................7
Justification..................................................................................................................................8
Recommended Marketing Mix........................................................................................................8
Justification..................................................................................................................................9
Conclusion.......................................................................................................................................9
References......................................................................................................................................11

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Background of company
Whirlpool is one of the largest markets of home appliances in the recent world. It is a fortune
500 company with an annual turnover of around $20billion. The company employed more than
70,000 employees in their business as well as more than 70 manufacturing with other research
centers all over the world. The company is now the manufacturer as well as marketer of home
appliances brands such as Amana, Whirlpool, Maytag, Kitchen Aid as well as Jenn-Air. It has a
strategy of globally acquiring the local brand that drives it by the innovation by analyzing as well
as understanding the local consumers in better way as well as by delivering innovative solutions
to them. The company majorly delivers and offer home appliances such as washing machine, Air
conditioner, microwave, and Refrigerators, geezer, water purifiers, home ups and other various
accessories (Bloomberg, 2019)
Mission and Value Statement
Mission
“Everyone, Passionately Creating Loyal Customers for Life”
According to such statement the company establishes and introduces an approach of
commitments as well as dedication towards each customer by their employees. It is one of the
missions of the company to increase the level of consumer satisfaction that will make them grow
in the market.
Vision
“Every Home and Every Where with Pride, Passion and Performance”
The company believes along with the vibrant and succinct vision to reach out to each
homegrown irrespective its revenue prospective in one manner or further as well as soupçon
subsists of individuals and plug it with job of owing its product. It has vision to lead in the
market through their great performance in the global market hat make them succeed.

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Slogan
“You and Whirlpool, the world best homemaker”
Role of brand in Marketing Strategy
Whirlpool is one of the leading brands in the international market. The business has a embraced
numerous promotion strategies to spread awareness about their products. Majorly the business
believes in traditional marketing method to target their consumers. It analyzes the market
efficiently and makes the plan accordingly to target their consumers. However, in the
competitive market, the business confronted various challenges in directing their customers due
to its competitors have strong marketing strategies that make biggest issue for the company
(Popkova, Gornostaeva and Tregulova, 2018).
Analysis of 5Cs
Company
SWOT analysis
Strengths Weaknesses
 Strong Brand Image
 Strong leadership in Washing machine
 Coverage the whole world
 Huge involvement in charity work
 Stagnancy in the total revenue
 Great dependence on US market for
revenue
 Lacking in Differentiation of products
 High revenue generation but low
margin
Opportunities Threats

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 The company can add new small
appliances in their product portfolio
 The company can capitalize the rise in
e-commerce sales in the global market
 Innovation in the service delivery will
give new life to the company
 Great level of rivalry in the marketplace
 Dropping margin in the market
 US and other Asia markets are mature
markets where there are many brands
that present as well as penetrate
(Popkova, 2017).
Customers
The company is based on appliances that are required by every individual in the market. They
serve basic products as well therefore; the company serves their products to all range of
consumers from low to high. It has different variety of products that is been purchased by the
consumers according to their budget and requirement. Due to huge competition in the market, the
consumers are seeking for reasonable price product in the marketplace that generate challenge
for the corporation to maintain price for their consumers (Hult et. al., 2017)
Collaborations
Suppliers, distributor as well partners play a vigorous role in the development and success of any
trade. The main partners of the company are Scott, Sunrise appliances, Trend Appliances, Jetson,
Bouche Appliances and so on. With the help of distribution channel t7he company can able to
magnify their corporate in an n global market. Distributors are provided at every region to make
their product available to the customers in an operative way. the suppliers of whirlpool realized
the sales deteriorated by -3.33% as compare to the same quarter a year ago, consecutively the
sales of the company grew by 3.12 %. Therefore, they help the company to achieve great success
in the marketplace in an operative and well-organized manner (Zdziarski, Srai and Rezk, 2016).

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(Source: Whirlpool Corporation, 2019)
Competitors
The company has many established competitors. The major competitors for the company are
Haier as well as Samsung. Such companies also provide similar services while comparing with
Whirlpool. They offer better services at better price that make them competitive in the market.
Haier and Samsung are also the leading company in the global market that contributes tough
competition to the Whirlpool due to their string brand image in the international market.
Therefore, the business is fronting stiff rivalry from the home appliances creators from Asia as
well as other contents. The entry of new players, on the top of existing completion, would further
intensify the competition in the international appliance market that drive down in the prices of
the product (Kumar and Subramanian, 2015).
Context
Political Analysis and legal: Whirlpool is the international company; therefore, they not only
have to worry about the U.S. policy but also are required to keep close eyes on the multiple
countries policies. For example, the cost of water in Canada is high and new law has been passed
that states the laundry can only be done at certain time of the day. Such raises some issues for the
company.

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Economic Analysis: the revenue of the company is depends on the overall economic condition
of the country. Therefore, every country has different growth level of economic if any
fluctuations occur it greatly affected on the overall performance of the company (Worrell and
Krier, 2018)
Socio-culture changes: it can create threat and opportunities to the company. In some of the
developing countries the size of the families is decreasing as well as some of them are ready to
spend amount on such products that give new market to the consumers. However, some of the
developing countries face the issue of low income level that resists them to spend amount in such
products that pretentious general sales of the corporation.
Technological: the up-gradation in the technology affected overall profit margin of the business
at superior level. The change in technology forces the business to invest enormous amount in
R&D that pretentious overall price of the business (Biswas, 2018).
Collecting Information for 5Cs
Analysis demand of consumers
According to the research it can be analyzed that in the recent scenario, the consumers prefer
innovative and upgraded products at reasonable price. The consumers not only acquire the
products with the greater brand value but also the products that are offering additional services.
Therefore, in such industry, the consumers majorly want high quality of products at reasonable
prices. Moreover, the consumers also prefer other discount and promotional coupon that enhance
their interest toward the products in an effective and efficient manner (Laseter and Laseter,
2017).
Competitor analysis
Companies such a Samsung, Haier, as well as LG Electronics are attaining great market share in
the market over their low cost as well as high-quality products. Such companies have biggest
threat for the company due to their great market coverage that attracts extreme sum of customers
in an operative as well as well-organized manner. Such companies have strong marketing
strategies that make them competitive in the market. The innovative nature of such competitive

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companies created biggest threat for the company due to the reason such products are provided at
reasonable process that attracts maximum number of customers in an operative as well as
efficient manner. Moreover, the other competitor that can create threat is Electrolux. It is the
manufacturer as well as distributor of home alliances such as washing machine, refrigerator, as
well as air conditioner it is consider as one of the biggest rival of Whirlpool. Therefore, such
major competitors create great issue for the business that pretentious overall performance of the
business at superior level (De Carvalho et al., 2016).
Change in the context of business
While analyzing the market, it has been found that the fluctuation in the economic environment
affected the company at greater level. During the recession period, most of the people lost their
jobs that generate the issue of low level income among the individual. T directly affected over
the revenue and sales of the company at greater level. Some of the countries have also introduced
new laws in their country such as in Canada; the new legislation is passed in which it state that
the laundry can be done at certain times of the day or the price would be increased drastically. It
raises the issue for company at greater level. It is the manner the context of the business is
changing at greater level.
Role of collaborators
Collaborates play an vital part in the process of operation for the corporation. It supports the
company to make available of the products at every region in an operative method. The partners
of the business cover different market share for the company that supports the company to target
their consumers. Distributors help the company to expand their business in the international
marketplace in a well-organized manner. The suppliers help the corporation to regulate over its
general cost of the company that supports the company to make the products available at
reasonable prices to the consumers. However, Whirlpool faced issue in getting support from such
collaborators (Lerner, 2017).

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Developing Marketing strategy
While analyzing the above challenges that is majorly faced by the company. There are certain
marketing strategy recommendations that can be adopted by the company to grow their company
in the competitive market.
Choice of target market
The market is binge across diverse sectors that are vacillating from diverse geographical sites to
educational level to revenue level. The market is divided into four part demographic, social,
geographical as well as ethnic segment. Therefore, the company is required to select which sort
will be the most pertinent to its product. Whirlpool must deliberate its exertions on two main
segments:
Demographic: the company must market its tactics more conferring to the requirement of the
females who are the main operators of its products. Thus, emerging machineries that fashionable
in looks and complex would be more useful for the company. The company can also target singe
and bachelor men for their products that can faster the demand of their products.
Geographical: the products of the company I majorly based on water and electricity. Therefore,
it is required for the company to select those countries where the water as well as electricity is in
sufficiently. However, some of the republics face shortage of water and electricity therefore;
technologies in such places must be developed by the company enhancing the geographical
market requirement and not alike plan with utility mechanism for each market (Jarvinen and
Taiminen, 2016).
Value Proposition
There is certain value propositions that can adopted by business as they are enlightened in below
points:
 Whirlpool should provide superior quality as well as unmatched service with all their
products. The company should deign their product in such a manner that keep the
customer in mind

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 The company should emphasis on making a technically advanced product by
participating in its R&D. it enable them to turn out the crops that have a extensive variety
of purposeful structures.
 The company should also try to ensure that its products are user-friendly by possession
the choices as well as the operative of the parade pieces modest as well as conventional
onward.
 The company is required to make their products differentiate from their competitors in
term of design color and features to make its business competitive in the market
(Manninen et al., 2018)
Positioning Statement
The company is required to reposition their brand in the market with new product or services.
The company has not covered their consumers through online. Therefore, the company can
position their brand in the online platform to target its customers in more operative manner. It
will be open in crowded place such as mall or any market that will make the company more
viable in the market. The business can also position its brand in rural areas to concealment
maximum number of customers in more well-organized way. Therefore, through such methods
the company can able to position their brands in an efficient and effective manner (Kladou et al.,
2017)
Justification
While recommending the marketing strategies, the geographic and demographic segment are
majorly focused due to the reason such sectors play a vital role in the business. They cover all
most all range of consumers in an effective as well as in an efficient manner. While analyzing the
challenges of the company such value proportion will assistance the business to improve its
general recital that will support them to compete their competitors in more efficient manner.
Moreover, the positioning statement will help the company in deciding the manner to target their
consumers.
Recommended Marketing Mix
Product

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The major essential and most viable of achievement for the company is to deliver excellence
creation as the products with virtuous quality that help the organizations in attaining a brand
image as well as endure in business for a long time. Therefore, the brand image of the Whirlpool
is majorly attached with the strong quality as well as commitment. The company must focus on
the quality and should also fulfill the demand of consumers towards vigor saving products that
are dense in size as well as faster. Thus, the company must deign as well as market such products
in an operative manner.
Place
The company majorly expands their market in big cities as well as malls however, in the
developing countries; most of the population resides in the small cities as well as towns.
Therefore, the company should market as well as advertise their product in such market to cover
and attract maximum consumers. It will help the company to target new segment for their
products that will help them in enhancing the sales and revenue efficiently.
Price
Final decision of most of the consumers is majorly derived from prices as well as evaluating the
features of the products. Thus, inordinate product with only better and sensible value can bring
income back to the corporation in more effective manner. While researching the market it has
been analyzed that the price of Whirlpool are greater than the values of its rivals such as
Samsung, Haier as well as LG. Therefore, the corporation must majorly emphasis on the product
line pricing where, rendering to the structures the products will be valued competitively thus
sounding sensible to the companies. Moreover, the company should adopt economy pricing
method to compete their competitors. It is the method in which the company is required to keep
the price of their product low.
Promotion
Whirlpool is one of the leading brands that can benefit services of numerous advertising
mediums to target a bulk market relatively than features exact market. Therefore, while
analyzing the competition in the market, the company can use the platform of interne as well as
television mediums through which the can mass appeal their products in an effective manner.

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Moreover for targeting the market they should use distinct magazines intent on exact reading
audience, websites, and road commercial as well as print media. It will aid the business to target
new customers in the market and can spread awareness of its product in more operative and well-
organized manner.
People
People play a vital role in the marketing campaign; they can make or break the advertising
campaign. Therefore, to identify strong customers to target the products help the company in
tapering the determinations as well as also save the revenue of the company in an efficient
manner. The target audience for the company product is primarily women who are the key
decision maker as well as singe men, thus it is required for the company to focus on such two
segment more efficiently while marketing their product in the market.
Process
A extra abridging procedure the more customers are organized as well as keen to purchase a
product therefore, a clear, humble as well as short process developed can aid the company to
influence maximum number of customers in limited time period. While introducing home based
shopping, loyalty program as well as product benefits catalogues can support the company in
simplifying the process for the consumers in an operative and well-organized manner. Therefore,
it is obligatory for the corporation to focus over their process to grow smoothly in the market.
Physical Evidence
Now the customers have develop more bare to the evidence due to the development in the
communication as well as internet therefore, developing the way of providing the physical
evidence of the products quality and a demonstration of its potential can also support the
company in enhancing their volume of sales in more efficient and effective manner
(Noormoradia and Mozafarib, 2017).
Justification
Such strategies is highly recommended to the company sue to the reason; the company face huge
competition in the market. It is obligatory for the company to take such steps to compete the

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competitor and can grow in the market. Therefore, such strategies will help the company to grow
in the market and can differentiate their product from their competitors in more efficient manner.
Conclusion
It can be concluded from the above analysis that marketing strategies play a vital role in the
success of any business.one of the foremost company Whirlpool faces various challenges in the
market due to high fluctuation rate and increase in competition in the market. Hence, it is highly
essential for the business to improve its recital by adopting attractive marketing strategies and
promotional strategies to compete in the market in more effective and efficient manner.

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A18.

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