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Digital Marketplace Analysis

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In this presentation students have the opportunity to appreciate the changes in the wider environment affecting businesses in any particular sector. They also can use traditional models of analysis into a more digital context to appraise the relationships in the macro and micro environment of an organisation.

This lectures is followed by practical case studies, videos and activities students have to develop during the tutorial session.

Published in: Marketing
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Digital Marketplace Analysis

  1. 1. #leading360˚ b u s i n e s s * o u t r e a c h
  2. 2. UX Sensory Appeal Search, Social and System Technologies Social Engagement Conversations Leading to Conversion Design Imagery, Pictures, Frames, Logos, Colour, Call-to-action buttons, Sensory Marketing Usability, Navigations... Inbound Marketing, Blogging, Thought Leadership, Social Media Marketing, Buzz Monitoring, Reviews, Forums... SEM, SEO, PPC, Link Building, Landing Pages, New Social Technologies, Internet of Things, Wearables... CE A threefold approach to Digital Strategy
  3. 3. Solis, 2014
  4. 4. Solis, 2014
  5. 5. Solis, 2014
  6. 6. Strategic Agility Collection, dissemination and evaluation of marketplace information “The capability to innovate and so gain competitive advantage within a marketplace by monitoring changes within an organisation’s marketplace, and then efficiently evaluating alternative strategies. Selecting reviewing and implementing appropriate candidate strategies” (Chaffey, 2015 pg. 128) Process for generating and reviewing new strategies leading to strengthen the brand, acquire new clients and retain current ones profitably and sustainability. Research potential customer value inline with overall business goals and values generated. Implementation of tactics and deployment of resources to deliver higher customer value than the competition. Generate metrics and review the results from strategic implementation to further improve deliverables, improve proposition and offer or to end it all together. Chaffey, 2015
  7. 7. Online Marketplace Analysis
  8. 8. Online Ecosystems Search intermediaries Customer segments Intermediaries and media or publisher sites: Social networks, aggregators and affiliates Destination Sites and Platforms Chaffey, 2015
  9. 9. marketing the macro environment the micro environment strategy systems functions resources suppliers other stakeholders intermediaries competitors customers political forces social cultural forces technological forces economic forces environmental forces legal forces environments the internal environment context analysis...
  10. 10. external (macro) context… present organisations with opportunities and threats political economic social technological environmental legal
  11. 11. PESTEL analysis sample chart Your Notes PESTEL Factors Potential Impact Implications & Importance About your organisation & how the factors might impact on marketing for your organisation/SBU Political Economic Social Technological Environmental Legal H = High M = Medium L = Low U = Undecided Time Frame: Short Medium Long Type: Opportunity or Threat Implication: Increasing Reducing Not yet determined Relative Importance H = High M = Medium L = Low
  12. 12. Internet Marketing Environment
  13. 13. customer analysis... segment with the same characteristics and behaviours, Customer insight – needs, profiles, preferences and digital experiences Level of involvement perceived risks Consumer behaviour analysis – motivations, media consumption preferences and use of channels (online and off-line) influence
  14. 14. Solis, 2014
  15. 15. generation Y born between 1982 and 2001... although opinion varies 50% of Facebook users and 80% of twitter users do so on their mobiles... what does this mean if bad customer experiences are received? feelings, thoughts, reviews, stories… will last far longer than those in traditional print
  16. 16. ‘Earned’ Media
  17. 17. "Socialnomics" It has transformed and now defines the way we do business 1. A People-driven Economy: You don't make money by selling, rather you make money by making "friends", then selling; 2. Socialnomic is the value created and shared via social media influencing companies macro and micro environment; 3. The Long Tail - from mass market to mass of niches; 4. A new demand for transparent honest human voice is forcing business to fully transform to address the new "social landscape“; 5. We no longer look for information, it find us; 6. A new economy of Freemiums; 7. Key feature is the ability to tag, it helps to catalogue information and spread; 8. People want to know what others think about products and services; Social search drives social commerce;
  18. 18. Potter 5 Forces
  19. 19. Aspects of the Customer Life-cycle Data Analysis (both quantitative and qualitative) In-sector and out-of-sector Internal Capabilities Financial and non-financial measures Social Engagement metrics Competitor Analysis and Benchmark Brand Metrics – from awareness to advocacy
  20. 20. Internal analysis (SW)... strengths and weaknesses linked to use and availability of resources… and analysis of current digital activity…
  21. 21. TOWS Analysis Strengths Weaknesses Opportunities “Maxi-Maxi” Strategies Strengths used to maximise opportunities “Mini-Maxi” Strategies Minimise weaknesses by taking advantage of opportunities Threats “Maxi-Mini” Strategies Strengths used to minimise threats “Mini - Mini” Strategies Minimise weaknesses and avoid threats Weihrich, 1982
  22. 22. digital objectives... avoid solely focusing on sales help to determine/clarify position help highlight the balance of tactics needed provide a time frame provide a means of evaluation and measurement SMART
  23. 23. the 5S’s... sell… grow your sales speak… dialogue, participation and engagement serve… add value save… costs sizzle… take your brand online Smith, 2000
  24. 24. Smartinsights (2016) Digital Ansoff Matrix
  25. 25. Digital Innovation There is only one valid definition of business purpose: to create a customer (Drucker, 1954) Two main functions in business: marketing and innovation (Drucker, 1954) It is fundamental for the survival of any business Doing the right things over and over do not guarantee success, why? There is always a market for the next “Big Thing”! New business models are emerging creating new demands as well as supporting new solutions and addressing current needs of customers and consumers
  26. 26. Digital Marketing Hyper-cycle
  27. 27. SOSTAC® planning model… 1 2 3 4 5 6 situation objectives strategy tactics action control corporate marketing digital resources scheduling Smith, 1990 5S’s marketing mix
  28. 28. Situation analysis • Mission Statement and Corporate Objectives • Marketing Audit – Macro, Micro and Internal • SWOT and TOWS Analysis, development of CSF’s Objectives • SMART • Specific, Measureable, Achievable, Realistic and Time-bound Strategy • Growth and Competitive Advantage • Branding • Segmentation, Targeting and Positioning Tactics • The Marketing Mix • Product, Price, Promotion, Place, People, Process and Physical Evidence Action • Implementation of the plan • Allocation of resources and management of performance Control • Measuring performance against objectives and desired outcomes • Amending approach based on variance Smith, 1990
  29. 29. References and reading Chaffey, D. and Ellis-Chadwick F. (2012). Digital marketing: strategy, implementation and practice. 5th Edition, Pearson. London. Armstrong, G & Kotler, P. (2008) Marketing- An Introduction. 9th ed Pearson Education: London Dibb, S., Simkin, L., Pride, W.M. & Ferrell, O.C. (2012) Marketing: Concepts and Strategies. 5th European ed. Houghton Mifflin: Abingdon Ryan, D. and Jones, C. (2009) Understanding Digital Marketing: Marketing Strategies for Engaging the Digital Generation London: Kogan Page Solis, B. (2014) What is the Future of Business. Wiley. New Jersey. http://www.smartinsights.com/digital-marketing-strategy/online-business-revenue- models/dealing-with-digital-disruption/ http://www.smartinsights.com/digital-marketing-strategy/sostac-model/

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