...COMPETITIVE ANALYSIS It is nice to have valid competition; it pushes you to do better. – Gianni Versace (Fashion Designer) 1 Developing a Framework for Competitive Analysis Before developing a marketing strategy, a firm needs to complete an external analysis, looking at social, demographic, economic, technological, political/legal and competitive factors, as outlined in Chapter 2. As the textbook states on page 26, management has little control over the competitive environment in regards to what is faced by a firm. This does not imply, however, that the analysis of competition is a fruitless activity. In fact, understanding the actions of competitors can be a key component in developing a company’s own strategies. If a company is to develop a competitive advantage that will form the basis of any strategy, it must first understand the competitive environment in which it can create such an advantage (called Competitor Analysis). Then, it must understand the product choices currently available to potential customers (called Competing Products Analysis). Competitor Analysis First, a company must understand the types of competition it will face. In order to find the current and potential competitors in a marketplace, a firm must be able to differentiate the various types of competition: direct and indirect. Direct competitors are those branded or product-based competitors that have created direct substitutes to what a company is offering. Generic competitors often compete...
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...DEVELOPING A MARKETING PLAN: A Template for Analysis and Strategy This template is designed for the analysis and planning phases of global marketing strategy development. Students must conduct “real” research for completing a substantial and coherent marketing plan. First, you will develop a comprehensive customer, competitor, organizational and environmental analysis. This entails the next stage for an effective marketing mix strategy followed by implementation and control. The marketing plan should be fully justified, which means students must explain why a particular method, tactic, or strategy is chosen in comparison to many other alternatives. Cross-cultural analyses and discussions of global consumer culture are required components of the final marketing plan. DEVELOPING A MARKETING PLAN: A Template for Analysis and Strategy Executive Summary (done last – two page summary of entire project; use persuasive language...
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...MKG310 MARKETING STRATEGY Session 3 Dr. Barbara Caemmerer, Mrs. Catherine Bruneteaux-Swann, Dr. Sana Rouis, Mr. Bernard Grieu, Mr. Reed Meister, Mrs. Elodie Jouny-Rivier, Mrs. Alice Darmon and Mr. Neil Thomas. Course Coordinator: Dr. Sana Rouis sana.rouis@essca.fr COURSE OUTLINE INTRODUCTION TO STRATEGIC MARKETING PLANNING AND MARKET ANALYSIS Session 1: Introduction to Course Session 2: Strategic Marketing Planning Session 3: Market Analysis (1) – The Internal and External Environment Session 4: Market Analysis (2) – Buyer Behaviour DEVELOPING DOMESTIC MARKETING STRATEGY Session 5: Strategy Development Session 6: Segmentation, Targeting and Positioning Session 7: Marketing Mix (1) – Product and Price Policy Session 8: Marketing Mix (2) - Distribution and Communications Policy Session 9: Student Presentations (Project Stage 1) STRATEGIC MARKETING CONSIDERATIONS AND IMPLEMENTATION Session 10: Developing and Maintaining Long-Term Customer Relationships Session 11: Marketing Implementation Session 12: Marketing Control Session 13: Student Presentations (1) (Project Stage 2) Session 14: Student Presentations (2) (Project Stage 2) and Class Revision Key Learning Objectives : Develop capacity to analyse a situation/environment and identify/integrate relevant information Design and implement a marketing plan in coherence with the organisation’s strategy and environment TODAY’S SESSION • Review of last session • Market Analysis • • • • Student presentation Conducting a situation...
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...MARKETING PLANNING – CHAPTER 2 Developing a marketing plan is a key responsibility. The marketing plan can be divided into two general parts: the situation analysis, which analyzes the background of the market for the product, and the objectives, strategy and programs based on the background analysis that direct the product manager’s actions. MARKETING PLAN A marketing plan is a written document containing the guidelines for the business center’s marketing programs and allocations over the planning period. Give life to a marketing plan = business plan (CEO) Marketing plan= Chief Marketing Officer. One-year time framework (mostly). Short states and implements. At the end, check and asses. Kotler (NOT MORE than 15 pages). Straight to the topic, NOT wide. What you need and how to get there. * Written document: not something stored in a product manager’s head. It provides a vehicle for communications between functional areas of the firm. It pinpoints responsibility for achieving results by a specified date. * Business center level: the precise level at which plans are written varies from organization to organization. For example, in a company using a band management organizational structure, a marketing plan is written for each brand that is a profit center. Alternatively, some companies write plans for groups of brands or products, particularly when fixed costs are difficult to allocate by individual product. While marketing planning is common, it occurs at different...
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...Framework for Marketing Decision Making “What do we do well?” “What do buyers need?” “What are competitors doing?” “Where should we compete?” “How should we compete?” I. Situation Analysis A. Internal 1. The Organization’s Goals and Objectives 2. The Organization’s Strengths and Weaknesses B. External 1. Customer Analysis 2. Competitor Analysis 3. PEST Analysis C. Identify Key Problems & Opportunities 1. Perform SWOT Analysis 2. Set Priorities 3. Develop an Overall Assessment II. Segmentation, Targeting, and Positioning (STP) A. Identify Relevant Markets and Segments B. Select Target Markets and Target Segments C. Develop Positioning Strategy III. Determine Marketing Mix Alternatives A. Product (Goods and/or Services) B. Price C. Place (Distribution) D. Promotion (Advertising and Promotion) E. Evaluation of Alternatives IV. Implementation, Adaptation, and Renewal A. Implement Decision B. Monitor & Control C. Adapt & Renew Figure 1 Framework for Marketing Overview The framework for marketing - the process for implementing the Value Cycle - is illustrated in Figure 1. The basic steps are outlined on the previous page and each is developed more fully in the pages that follow. It is best to begin with a brief overview. The first stage, the Situation Analysis, combines internal analysis of the organization with external analysis of its customers and the competitive...
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...Marketing and selling. What difference? BY AIMABLE INEZA innezar@yahoo.fr 6 AUGUST, 2011 TABLE OF CONTENT PAGES I. INTRODUCTION ……………………………………………………………….. II. MARKETING AND SELLING CONCEPTS ……………………………......... 2.1. Marketing concept ………………………………………………………… 2.2. Selling concept ……………………………………………………………. 2.3. The difference between marketing and selling …………………………… III. COMPETITOR ANALYSIS IN ORGANIZATIONS …………………………. 3.1. Purpose of competitor analysis ……………………………………………. IV. CONCLUSION …………………………………….. .…………………………… REFERENCE …………………………………………………………………………. 1 1 3 5 5 5 6 7 8 I. INTRODUCTION Today’s businesses around the world cannot ignore the impact that the global economy is having on their performance. The advance of internet and information transparency has brought about an increasingly mobile workforce, rapidly changing technology and multiple business models. As a result, companies have become less capable of predicting and controlling the short-term shape of their very market. As a result, more and more companies are choosing to adopt a marketing-led philosophy to enable them to win market shares, capture and retain the hearts and minds of current and prospective customers. [World Marketing Network (www.gmnhome.com)] Palmer (2009) defines marketing as a business philosophy that puts customers at the center of an organization’s considerations. This philosophy...
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...MARKETING PLAN RESEARCH DEFINITION: A marketing plan is a business document written for the purpose of describing the current market position of a business and its marketing strategy for the period covered by the marketing plan. Marketing plans usually have a life of from one to five years. PURPOSE: The purpose of creating a marketing plan is to clearly show what steps will be undertaken to achieve the business' marketing objectives. CONTENT OF MARKETING: A marketing plan for a small business typically includes Small Business Administration Description of competitors, including the level of demand for the product or service and the strengths and weaknesses of competitors. 1. Description of the product or service, including special features 2. Marketing budget, including the advertising and promotional plan 3. Description of the business location, including advantages and disadvantages for marketing 4. Pricing strategy 5. Market Segmentation The main contents in marketing plan are: * Executive Summary Brief statement of goals and recommendations based on hard data. * Environmental Analysis Presents data on the market, product, competition, distribution, macro-environment. (Product fact book) S.P.I.N.S. Situation “Where am I”, Problem identification/Implications “What is happening”, Needs Assessment “Why is it happening”, Solutions “What can I do about it” Market Situation: Data on target market, size and growth for past years...
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...Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis is a business management tool used to evaluate an organization’s strength’s, weaknesses, opportunities, and threats. The tool is used to produce a model that can serve to provide direction in the development, formulation, and evaluation of project management plans. Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis is an important step in the planing process that is often undervalued and omitted in constructing the project management plan. This basic management tool is straightforward and easy to use. Basically, factors are divided into internal and external issues. Based on the analysis of the information provided by the model, project management can better decide if the information gathered is something that will assist in accomplishing its objectives. Conversely, Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis can also identify potential obstacles to success, as well as faults in the plan that must be addressed, controlled, or eliminated if the desired results are to be achieved. In order for the Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis to be effective, project management must do more than simply identify the strengths, weaknesses, opportunities, and threats involved. Risk management demands that it is necessary to avoid, eliminate, or at the very least, minimize identified weaknesses and threats. Weaknesses should be closely scrutinized in order to determine...
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...Analyzing Marketing Problems and Cases HIGHLIGHT 1 A Case for Case Analysis Cases assist in bridging the gap between classroom learning and the so-called real world of marketing management. They provide us with an opportunity to develop, sharpen, and test our analytical skills at: -Assessing situations. -Sorting out arid organizing key information. -Asking the right questions. -Defining opportunities and problems. -Identifying and evaluating alternative courses of action. -Interpreting data. -Evaluating the results of past strategies. -Developing and defending new strategies. -Interacting with other managers. -Making decisions under conditions of uncertainty. -Critically evaluating the work of others. -Responding to criticism. Source: David W. Cravens and Charles W. Lamb, Jr., Strategic Marketing: Cases and Applications, 4th ed. (Homewood, IL: Richard D. Irwin, 1993), p. 95. The use of business cases was developed by faculty members of the Harvard Graduate School of Business Administration in the 1920s. Case studies have been widely accepted as one effective way of exposing students to the decision-making process. Basically, cases represent detailed descriptions or reports of business problems. They are usually written by a trained observer who actually had been involved in the firm or organization and had some dealings with the problems under consideration. Cases generally entail both qualitative and quantitative data, which the student must analyze to determine appropriate...
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...Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. Marketing strategy consists of the analysis, strategy development, and implementation activities in: “Developing a vision about the market(s) of interest to the organization, selecting market target strategies, setting objectives, and developing, implementing, and managing the marketing program positioning strategies designed to meet the value requirements of the customers in each market target”. Strategic marketing is a market-driven process of strategy development, taking into account a constantly changing business environment and the need to deliver superior customer value. The focus of strategic marketing is on organizational performance rather than a primary concern about increasing sales. Marketing strategy seeks to deliver superior customer value by combining the customer-influencing strategies of the business into a coordinated set of market-driven actions. Strategic marketing links the organization with the environment and views marketing as a responsibility of the entire business rather than a specialized function. Because of marketing’s boundary orientation between the organization and its customers, channel members, and competition, marketing processes are central to the business strategy planning process. Strategic marketing provides the expertise for environmental monitoring...
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...Strategic Planning For Business Unit The Strategic Planning for Business Unit is briefly sketched as below: External Environ-ment Mission Stateme-nt Strategies formulat-ion Program formulat-ions Goals formulat-ion Feedback and Control Impleme-ntation Internal Environ-ment SWOT Analysis Strategic Planning Process For Business Unit Mission Statement: * Defining basic purpose or * Reason behind the existence of an Business Peters Druckers classic questions * What is our business * Who is the customer * What is value to the customer * What will our business be * What should our business be Goals Formulation: Every business unit set their own target goals. The targeted goals must be SMART (specific, measureable, achievable, realistic and time band). For setting the goals, a manager must consider the capabilities of the business unit and after that set the goals. SWOT Analysis: SWOT analysis is a simple framework for generating strategic alternatives from a situation analysis. It is applicable to either the corporate level or the business unit level and frequently appears in marketing plans. For setting the rational goals, every Business unit must analyze the environment, internally; Strength and weaknesses, and externally; opportunities and threats. Assessing the External Environment External scan refers to exploring the environment outside the organisation in order to identify the opportunities...
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...Final Examination. Week One: Macro-environment, Market, Competitors Objective: Analyze the industry, market, and competitors. 1. The focus of _____ is on organizational performance rather than a primary concern about increasing sales. a. 0 Corporate strategy b. 0 Strategic marketing c. 0 Corporate vision d. 0 Corporate objectives Objective: Analyze the industry, market, and competitors. 2. _____ is horizontal and covers similar types of firms and operating practices of the firms. a. 0 Value chain analysis b. 0 Industry analysis c. 0 Market segmentation analysis d. 0 Customer profile analysis Objective: Analyze the industry, market, and competitors. 3. _____ recognizes that active competition among industry members helps determine industry performance and it is the most direct and intense form of competition. a. 0 Rivalry among existing firms b. 0 Threat of new entrants c. 0 Threat of substitute products d. 0 Bargaining power of suppliers Objective: Analyze the industry, market, and competitors. 4. An analysis of each competitors past sales would be included in a _____. a. 0 Customer value report b. 0 Market forecast c. 0 Competitors' analysis d. 0 Market segment analysis Objective: Analyze the industry, market, and competitors 5. If critical inputs are in jeopardy or prices of those inputs are extraordinarily high, companies may pursue vertical integration strategies or develop collaborative relationships to reduce the _____...
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...Final Examination. Week One: Macro-environment, Market, Competitors Objective: Analyze the industry, market, and competitors. 1. The focus of _____ is on organizational performance rather than a primary concern about increasing sales. a. 0 Corporate strategy b. 0 Strategic marketing c. 0 Corporate vision d. 0 Corporate objectives Objective: Analyze the industry, market, and competitors. 2. _____ is horizontal and covers similar types of firms and operating practices of the firms. a. 0 Value chain analysis b. 0 Industry analysis c. 0 Market segmentation analysis d. 0 Customer profile analysis Objective: Analyze the industry, market, and competitors. 3. _____ recognizes that active competition among industry members helps determine industry performance and it is the most direct and intense form of competition. a. 0 Rivalry among existing firms b. 0 Threat of new entrants c. 0 Threat of substitute products d. 0 Bargaining power of suppliers Objective: Analyze the industry, market, and competitors. 4. An analysis of each competitors past sales would be included in a _____. a. 0 Customer value report b. 0 Market forecast c. 0 Competitors' analysis d. 0 Market segment analysis Objective: Analyze the industry, market, and competitors 5. If critical inputs are in jeopardy or prices of those inputs are extraordinarily high, companies may pursue vertical integration strategies or develop collaborative relationships to reduce the _____...
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...Stutendt STUDENT GUIDE FOR WRITING A MARKETING PLAN 1. Executive Summary The Executive Summary “sells” the marketing plan to readers through its clarity and brevity. The summary should present a description of the product/service, its target market, and its need within the market. The summary should also provide an overview of the main points of the plan and should emphasize an action orientation. 2. Company Description The company description should highlight the recent history and successes of the organization. 3. Strategic Focus and Plan While not included in all marketing plans, the Strategic Focus and Plan sets the strategic direction for the entire organization. One approach is to use the strategic marketing process (see pp. 44-50 in the text) and/or diversification and synergy analyses (see pages 581-584). a. Mission/Vision The Mission/Vision statement is a qualitative statement that specifies the markets and product lines in which a business will compete. A mission statement can dramatically affect the range of a firm’s marketing activities by narrowing or broadening the competitive playing field. An effective mission statement must be clear and direct. See page 32 in the text. b. Goals The Goals section of a marketing plan sets both financial and non-financial targets. Goals should be in quantitative terms, where possible, to facilitate measuring the company’s future performance. See page 34 in the text. An example...
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...create. (Sales and Marketing – Service Offerings – Site Actions – New Site – Blank and Custom – Create – Title (offering name) –URL Name (offering name abbreviated) Business Model Canvas (Print and complete - continually amending as the below initiatives are defined) Why/objective? To capture the fundamental building blocks in developing a new service offering. Who or what tools? https://sp.intecgroup.com.au/sites/CorporateServices/Documents/Solutions/BusinessModelCanvasBlank.ppt (Print BMC on A3 – complete and constantly update categories throughout development of offering) Service Offering Product Description Statement Why/objective? To define and capture the key activities, benefits and value of a new service offering. Who or what tools? https://sp.intecgroup.com.au/sites/CorporateServices/Documents/Solutions/Product%20Description%20Statement%20Template.docx (Save template to the Shared Documents area of the service offering working site ‘ Product Description Statement) Marketing Plan Why/objective? To allow for and capture careful planning and a comprehensive understanding of the marketplace in order to develop a business strategy that will ensure the highest opportunity of success. Who or what tools? https://sp.intecgroup.com.au/sites/CorporateServices/Documents/Solutions/Marketing%20Plan%20Template.docx (Save template to the Shared Documents area of the service offering working site ‘ Marketing Plan’) Survey...
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