Marketing Strategy Conclusion – 3 SWOT analysis – Assessment of the company’s strengths and weaknesses and the opportunities and threats surrounding it; SWOT: strengths, weaknesses, opportunities, threats. Internal and external awareness will help the company identify weaknesses and prepare to face threats such as competition or a changing market; it will also help the company to be more competitive as it provides guidance and direction.
4 Internal Strengths and Weaknesses Strengths and Weaknesses are internal factors that affect a business, based on the three C’s: Company Customers Competition.
Marketing Strategy Conclusion
5 Company Analysis By analyzing employees, financial conditions, production capacity, and each part of the marketing mix, a company can find out what it does well and where it is weak. Parts of a question can be: Personnel questions Financial questions Production capacity questions Marketing mix questions (four Ps) Product Price Promotion Place
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6 Customer analysis Customers are an excellent source of information, you can learn more by asking who they are, how the groups differ, what, when, where and how much they buy, etc. Catalog companies use database technology to identify purchasing patterns, which allows them to display special interest catalogs. Tests and quizzes are conducted by users to find areas that need improvement. Monitoring customer satisfaction to reveal strengths and weaknesses.
7 Competitive Situation A company may have certain strengths and weaknesses compared to its competitors, with a strength being a large market share and a weakness being a loss of market share. Some questions that help a company analyze its internal competitive position are what is the company’s market share, what are the company’s advantages over competitors, what are its core competencies which the company has, and whether competitors are taking away the company’s business.
8 External opportunities and threats Companies must always look for opportunities to create a competitive advantage due to external factors, such as: Competition Environmental analysis Politics Economic Socio-cultural Technology.
9 Competition To stay competitive, companies need to know what their competitors are doing at all times, including changes in competitors’ financial conditions and changes in the market to provide opportunities. Companies that continue to conduct a SWOT analysis are in a better position to respond and change their marketing mix.
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10 Environmental analysis Environmental analysis – Analysis of external influences that may have an impact on the organization. Four factors are studied by analyzing the environment: Political Economic Socio-cultural Technology.
11 Politics Companies must be aware of changes in laws and regulations affecting their industries, and global companies must understand the political and regulatory environment of each foreign country in which they operate. Examples of current issues and regulations that may well affect certain industries: Do Not Call Registry Downloading music from the Internet.
12 Economic The current economic situation is attractive to all companies: a strong economy is more likely to invest in new products and ideas, while a depressed economy is likely to slow down that process. Important factors to consider are: The economy is a recession that poses a threat to almost all companies. Unemployment and consumer confidence. Exchange rate. Illegal dumping (sale of imported products at very low prices). Changes in trade restrictions, such as lowering or raising taxes.
13 Socio-Cultural Socio-cultural analysis is based on customers and potential customers, affecting changes in demographic data, such as: Age Income Occupation Education level Marital status Two examples are: The United States continues to expand. different races. Obesity causes health problems, advocate healthy eating habits.
Business Plan Conclusion
14 Technology Technological change can be a threat to one industry or company, but an opportunity for others to develop new products to support it. Some examples are: Computer automation Satellite technology
16 Marketing Plan – A formal written document that conveys a company’s goals, objectives, and strategies. Marketing plan: Comprehensive analysis and research efforts. It provides a road map of how the product will enter the market, be advertised and sold.
17 Elements of a Marketing Plan Marketing plans can vary from company to company. Key points in a marketing plan include: Executive Summary Situational analysis Objectives Marketing strategies Execution Analysis and control Performance standards and evaluation Appendix.
18 Executive Summary Executive Summary – A brief summary of the entire marketing strategy. This is an introduction to marketing strategy. Its clarity and clarity sell the design to the readers.
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19 Situational Analysis Situational Analysis – the study of internal and external factors that influence marketing strategies. Situational analysis includes: SWOT analysis Environmental analysis This section provides a picture of the company’s current situation. Usually reports the results of SWOT analysis and environmental analysis.
20 Goals and Objectives This section includes: Company Mission Marketing Goals Financial Goals This section describes specific goals to be achieved. To be effective, goals must be specific, specific, realistic, and measurable, and include a time frame.
21 Marketing Strategies Marketing Strategy – Identifying target markets and selecting marketing options that target those markets. This section includes: Position and points of difference Marketing mix (four Ps) Product Promotion Price Place (distribution) This is where the company defines how it will achieve the objective its how in the advertising mix: four Ps. .
22 Execution: Plan, Act on Plan Sales Forecast – An estimate of potential future sales in units or dollars. Implementation includes: Organization Duties and Responsibilities Programs This section describes how the company will implement its plans.
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23 Evaluation and control Evaluation and control includes: Performance standards and measurements Marketing goals Financial goals Marketing integration strategies Corrective actions This section states whether the marketing plan will be evaluated how and what measures may be required if the goals are not met. get together
24 Performance Standards and Appraisal Performance Appraisal – A performance appraisal that reflects the company’s goals and marketing plan objectives. This section suggests actions to be considered if targets are not met; the company’s goal is to reduce the gap between planned performance standards and actual performance.
25 Appendix The appendix is part of the marketing plan that includes other materials such as detailed financial statements, sample advertisements, and other materials that support the plan.
26 Conclusion The marketing process is a circular process that continues through planning, implementation and control, asking at the end: “Have we achieved the goals stated in the sales plan within the limits of the plan? On a legal basis, it examines the company’s marketing plans, strategies, values, organization and performance, as well as problem areas in the marketing process.
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In order for this website to work, we collect user data and share it with processors. To use this website, you must accept our Privacy Policy, including our cookie policy.A. INTRODUCTION 1. Overview of strategy and planning 2. Marketing strategy: analysis and feedback B. WHERE ARE WE NOW? 3. Environmental and internal analysis: market information and intelligence C. WHERE DO WE WANT TO BE? 4. Marketing strategy decisions, choices and mistakes 5. Segmentation, targeting and positioning strategies 6. Branding strategies 7. Relationship and operational strategies E. ARE WE HERE? 14. Strategy Implementation, Control and Metrics D. HOW WILL WE GET THERE? 8. Product innovations and development strategies 9. Services marketing strategies 10. Pricing and distribution 11. Marketing communications 12. Electronic marketing strategies 13. Social and behavioral strategies.
Evaluate the impact of an electronic marketing strategy on industry structure and profitability. Assess the role of electronic marketing in competitive advantage. See global e-marketing news. 3
5 Introduction With the general excitement about the Internet, many observers have argued that the old rules of marketing strategy have changed. , not prices. Therefore, electronic marketing is more about differentiation than cost 5
Households with home access, UK (quarterly) Percentage of households with access Households with home access from households using computers (millions) all types of access 1999 July – September October – December 2000 January – March – June July – September October – December 2001 January – March April June July – September * October – December 2002 January – March * * April – June * July – September Income – Household Expenditure Survey (as of April 1998 to March 2001); Research on consumption and food (April 2001