I can name the three key areas of an internal company analysis
I can Identify the factors in an environmental scan
I can explain the basic elements of a marketing plan
I can explain the concept of market segmentation
I can analyze a target market
I can differentiate between mass marketing and market segmentation
I can conduct a SWOT analysis
I can list the three key areas of an internal company analysis
I can identify the factors in an environmental scan
I can explain the basic elements of a marketing plan.
SWOT Analysis: How to perform one for your organization
Internal 4 P’s Weaknesses Strengths Internal
What are your strengths?
What are you doing better than your competitors?
What can you continue to improve upon?
What do others perceive as your strengths?
What are your weaknesses?
What do your competitors do better than you?
What can you improve, given the current situation?
What do others perceive as your weaknesses?
What trends or conditions may positively impact you?
What opportunities are available to you?
What rends or conditions may negatively impact you?
What are your competitors doing that may impact you?
Do you have solid financial support?
What impact do your weaknesses have on the threats to you?
Weaknesses Strengths Internal
Customer Relationship Management
Original Electronic Book
Too Many Categories dilutes brand
Too focused on their own technology
Selling Expertise to other companies
Work with Public Sector
Exclusive Offers from Publishers
Many other retailers are folding
New electronic books
New Countries have different laws and requirements.
Three areas of an internal company analysis
Staff Financial Production Capabilities Marketing Mix Product Price Promotion Place
Executive Summary Situation Analysis SWOT analysis Environmental Scan Objectives Mission Marketing objectives Financial objectives Marketing Strategies Positioning and points of difference Marketing Mix Price Product Place Promotion Implementation Organization Activities and responsibilities Timetables Evaluation and control Performance standards and measurements Marketing objectives Financial objectives Marketing mix strategies Corrective action Appendix Elements of a Marketing plan
Section 2.2 Market segmentation
Explain the concept of market segmentation
Analyze a target market
Differentiate between mass marketing and market segmentation
Demographics: statistics that describe a population
Geographics: segmentation based on where you live
Psychographics: grouping people with similar lifestyles
Personality & Values
Behavioral: segmenting based on shopping patterns and usage rate.
Mass market vs. segmentation Mass Market Products have universal appeal Products have few unique features Segmentation Products have specific uses Products are unique Products don’t appeal to everyone.
Review Which type of income, disposable or discretionary is more important to businesses that sell expensive watches, second homes and financial services? Of what significance are the combined African American, Hispanic and Asian-American population to marketers? A recent study shows that teens are drinking more bottled water and reducing the amount of carbonated beverages they drink. Which psychographic or lifestyle trend does this study support? If 93% of the US Population of 290,890,777 (2003 estimate) snacks at lease once a day, how large is the market for snack foods? Why does the United States conduct a census of its residents every ten years?