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MT-499 Unit 4 Seminar. Welcome!. Contents. SWOT Analysis Components Role of a SWOT Analysis Spartan Stores Example Group Exercise Role of Research in Developing a Marketing Plan Components of a Marketing Plan Other Areas To Consider eMarketing Planning For Growth (Branching Out) - PowerPoint PPT Presentation
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Welcome!
MT-499Unit 4 Seminar
ContentsSWOT Analysis
ComponentsRole of a SWOT AnalysisSpartan Stores ExampleGroup Exercise
Role of Research in Developing a Marketing PlanComponents of a Marketing PlanOther Areas To Consider
eMarketingPlanning For Growth (Branching Out)Adding Media
Tying it All Together
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Components of a SWOT AnalysisBreak up into Internal vs. ExternalInternal Components
StrengthsWeaknesses
External ComponentsOpportunitiesThreats
Is it Internal or External?Would the problem exist if the company did not exist
– if yes, then it is external.
MyEntre.net (2010). Components of a marketing plan. Retrieved from http://www.jpec.org/handouts/jpec33.pdf
3
Components of a SWOT AnalysisInternal Components
StrengthsWeaknessesSome Things to consider:
Size and financial resourcesScale and cost economiesCustomer perceptions
MyEntre.net (2010). Components of a marketing plan. Retrieved from http://www.jpec.org/handouts/jpec33.pdf
4
Components of a SWOT AnalysisExternal Components
OpportunitiesThreatsSome Things to consider:
Trends in competitive environmentTrends in technological environmentTrends in sociocultural environment
MyEntre.net (2010). Components of a marketing plan. Retrieved from http://www.jpec.org/handouts/jpec33.pdf
5
Role of a SWOT AnalysisA snapshot of a company’s current situation
internally and externallyInternally-focused Actions
Determine how to capitalize on your strengthsDetermine how to neutralize your weaknesses
and if possible turn them into strengthsWithout negatively affecting your existing strengths
Externally-focused ActionsDetermine how to capitalize on your
opportunitiesDetermine how to neutralize your threats and if
possible turn them into opportunitiesWithout negatively affecting your existing weaknesses
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Spartan ExampleLet’s briefly discuss improvement Spartan
can make Not just strategic ideas, but actions for
implementationWhat actions can they take toward their
weaknessesWhat actions can they take toward their
threats
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Group ExerciseLet’s perform a quick SWOT Analysis of our
own Let’s choose a topic:
Toyota’s current situationAmazon Kindle (and the competition)Launch of the Apple iPadGM’s Market PositionOther
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Market Research – incl. Benchmarking (from Week 3)Marketing is more than just advertisingResearch can be both Quantitative and
QualitativeResearch is used to:
Determine customer needs (Whether B2B or B2C)Create or improve products/servicesDetermine effective Marketing campaigns
Benchmarking for SuccessYou need to offer a product/service that is
superior to (or at least competitive with) your competitors’ products/services.
Therefore, you need to benchmark:Competitors’ Products/ServicesCompetitor Processes (including supply chains) Industry Best Practices
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Marketing Plan ResearchExternal Analysis
Changes in political positions & legislationChanges in technologyTrends in society (values and habits)Competitor analysisEconomic situation
Customer AnalysisCurrent and potential customersConsumer buying trendsWhy do consumers purchase (or not purchase) the
product/service Internal Analysis
Current and anticipated state of HR and FinancesCompany performance in relation to customers
MyEntre.net (2010). Components of a marketing plan. Retrieved from http://www.jpec.org/handouts/jpec33.pdf
10
Components of a Marketing PlanExecutive summary (written last)Situation Analysis (from the research)SWOT Analysis (to determine/identify the
company’s position)Marketing Goals (changes you would like to
achieve) and Objectives (SMART benchmark)Marketing Strategies (4 P’s from last week)Implementation Plan (the “How” you will make
this happen)Evaluation & Control (Monitoring and acting
upon actual performance)
MyEntre.net (2010). Components of a marketing plan. Retrieved from http://www.jpec.org/handouts/jpec33.pdf
11
Other Areas to ConsidereMarketing – alone or in conjunction with other
forms of marketing/advertising (as discussed last week)Pay Per ClickBanner AdvertisingEmail MarketingOrganic Search
Planning for Growth (think of the Clean-Air Carpet Cleaning scenario from Week 1)
Branding (so people will know you immediately)Adding Media (what other types of media should you
consider adding and when)Based on Growth (or loss) Launch of new and/or improved products/servicesSeasonally
MyEntre.net (2010). Components of a marketing plan. Retrieved from http://www.jpec.org/handouts/jpec33.pdf
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Tying It All TogetherImportance of a strong marketing plan in your
business planAttracting investorsHelping to secure a loanGaining a better understanding of your competition
and customersA strategic plan on how to effectively reach your
customer (current and potential)Keep it current
As part of the evaluation and control, don’t let your marketing plan become stale – keep it updated (along with your business plan)
MyEntre.net (2010). Components of a marketing plan. Retrieved from http://www.jpec.org/handouts/jpec33.pdf
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Assignment (Combined Paper)Marketing Strategy (3-4 pages)
How you plan to use marketing strategies to promote your business
Necessary market researchOngoing costs as well as one-time fees
Marketing Plan (5-6 pages)Benefits of market researchSWOT analysisMarketing mix (4 Ps)
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Final Questions?
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