Here are the answers to your quiz questions:
1. Sustainable competitive advantage refers to a firm's ability to perform better than its competitors on a consistent basis over the long run. Firms create sustainable competitive advantage by developing core competencies or distinctive capabilities that are valuable, rare, imperfectly imitable and non-substitutable. This allows them to satisfy customer needs better than competitors.
2. Strategic marketing involves achieving and sustaining a competitive advantage in the marketplace over the long run. It is the process of analyzing market opportunities, selecting target markets, and developing and maintaining successful relationships with customers in selected markets.
3. The strategic marketing process involves:
- Situation analysis to understand the external and internal environment
Introduction to Sales Management – The Sales Organization
– Determining Sales Related Marketing Policies – Sales
Functions and Policies – International Sales Management
– Personal Selling.
Sales Planning – Sales Budgets – Estimating Market
Potential and Forecasting Sales – Sales Quotes – Sales &
Cost Analysis, Sales Force Management: Hiring and Training Sales
Personnel – Time and Territory Management –Compensating Sales Personnel – Motivating the Sales Force
– Leading the Sales Force – Evaluating Sales Force
Performance.
Marketing Logistics - Distribution as Marketing Mix
Element – Distribution Resource Planning – Marketing
Channel Integration – Channel Management – Nature of
Marketing Channels – Evaluating Channel Performance-
Specialized Techniques in selling – Tele Marketing – Web
Marketing
Distribution Cost Analysis: Managing Channel Conflicts –
Channel Information Systems – Wholesaling – Retailing –
Ethical And Social Issues in Sales and Distribution
Management.
Introduction to Sales Management – The Sales Organization
– Determining Sales Related Marketing Policies – Sales
Functions and Policies – International Sales Management
– Personal Selling.
Sales Planning – Sales Budgets – Estimating Market
Potential and Forecasting Sales – Sales Quotes – Sales &
Cost Analysis, Sales Force Management: Hiring and Training Sales
Personnel – Time and Territory Management –Compensating Sales Personnel – Motivating the Sales Force
– Leading the Sales Force – Evaluating Sales Force
Performance.
Marketing Logistics - Distribution as Marketing Mix
Element – Distribution Resource Planning – Marketing
Channel Integration – Channel Management – Nature of
Marketing Channels – Evaluating Channel Performance-
Specialized Techniques in selling – Tele Marketing – Web
Marketing
Distribution Cost Analysis: Managing Channel Conflicts –
Channel Information Systems – Wholesaling – Retailing –
Ethical And Social Issues in Sales and Distribution
Management.
Introduction to Sales Management – The Sales Organization
– Determining Sales Related Marketing Policies – Sales
Functions and Policies – International Sales Management
– Personal Selling.
Sales Planning – Sales Budgets – Estimating Market
Potential and Forecasting Sales – Sales Quotes – Sales &
Cost Analysis, Sales Force Management: Hiring and Training Sales
Personnel – Time and Territory Management –Compensating Sales Personnel – Motivating the Sales Force
– Leading the Sales Force – Evaluating Sales Force
Performance.
Marketing Logistics - Distribution as Marketing Mix
Element – Distribution Resource Planning – Marketing
Channel Integration – Channel Management – Nature of
Marketing Channels – Evaluating Channel Performance-
Specialized Techniques in selling – Tele Marketing – Web
Marketing
Distribution Cost Analysis: Managing Channel Conflicts –
Channel Information Systems – Wholesaling – Retailing –
Ethical And Social Issues in Sales and Distribution
Management.
Introduction to Sales Management – The Sales Organization
– Determining Sales Related Marketing Policies – Sales
Functions and Policies – International Sales Management
– Personal Selling.
Sales Planning – Sales Budgets – Estimating Market
Potential and Forecasting Sales – Sales Quotes – Sales &
Cost Analysis, Sales Force Management: Hiring and Training Sales
Personnel – Time and Territory Management –Compensating Sales Personnel – Motivating the Sales Force
– Leading the Sales Force – Evaluating Sales Force
Performance.
Marketing Logistics - Distribution as Marketing Mix
Element – Distribution Resource Planning – Marketing
Channel Integration – Channel Management – Nature of
Marketing Channels – Evaluating Channel Performance-
Specialized Techniques in selling – Tele Marketing – Web
Marketing
Distribution Cost Analysis: Managing Channel Conflicts –
Channel Information Systems – Wholesaling – Retailing –
Ethical And Social Issues in Sales and Distribution
Management.
Introduction to Sales Management – The Sales Organization
– Determining Sales Related Marketing Policies – Sales
Functions and Policies – International Sales Management
– Personal Selling.
Sales Planning – Sales Budgets – Estimating Market
Potential and Forecasting Sales – Sales Quotes – Sales &
Cost Analysis, Sales Force Management: Hiring and Training Sales
Personnel – Time and Territory Management –Compensating Sales Personnel – Motivating the Sales Force
– Leading the Sales Force – Evaluating Sales Force
Performance.
Marketing Logistics - Distribution as Marketing Mix
Element – Distribution Resource Planning – Marketing
Channel Integration – Channel Management – Nature of
Marketing Channels – Evaluating Channel Performance-
Specialized Techniques in selling – Tele Marketing – Web
Marketing
Distribution Cost Analysis: Managing Channel Conflicts –
Channel Information Systems – Wholesaling – Retailing –
Ethical And Social Issues in Sales and Distribution
Management.
Introduction to Sales Management – The Sales Organization
– Determining Sales Related Marketing Policies – Sales
Functions and Policies – International Sales Management
– Personal Selling.
Sales Planning – Sales Budgets – Estimating Market
Potential and Forecasting Sales – Sales Quotes – Sales &
Cost Analysis, Sales Force Management: Hiring and Training Sales
Personnel – Time and Territory Management –Compensating Sales Personnel – Motivating the Sales Force
– Leading the Sales Force – Evaluating Sales Force
Performance.
Marketing Logistics - Distribution as Marketing Mix
Element – Distribution Resource Planning – Marketing
Channel Integration – Channel Management – Nature of
Marketing Channels – Evaluating Channel Performance-
Specialized Techniques in selling – Tele Marketing – Web
Marketing
Distribution Cost Analysis: Managing Channel Conflicts –
Channel Information Systems – Wholesaling – Retailing –
Ethical And Social Issues in Sales and Distribution
Management.
Marks and Spencer 5 Year Business Plan/StrategyAminul Hoque
This report/project comprises of analysing Marks and Spencer in its current state and strategies as well as past achievements. The findings was then formulated into a report as recommendations which showed how strategically Marks and Spencer can improve. This also comprised of looking competitor analytic's and their campaigns for Marks and Spencer to be competitive. This report/project built on existing skills such as; business planning, marketing communications planning, product development and financial analysis.
The marketing concept holds that the main task of the organization is to determine the needs, wants and preferences of a target group of customers and to deliver the desired satisfaction. Its four principles are market focus, customer orientation , coordinated marketing and profitability.
1.A music school in Boyles Height, LA, specializes in teaching the g.docxmansonagnus
1.A music school in Boyles Height, LA, specializes in teaching the guitar and the violin. After a spurt in growth and a few successful years, the school is experiencing a slowdown in sales and stability in its profits due to an increase in competition. The school is in the ________ stage of its life cycle.
•
obsolescence
•
decline
•
growth
maturity
2.
Another basis for decision-making is referred to as ________.
•
ethical practices
•
correct ethics
•
ethical dilemmas
situational ethics
3
What are the four characteristics of a marketing audit?
•
Comprehensive, systematic, independent, and periodic
•
Announced, semi-annually, dependent, and perpetual
•
Dependent, non-comprehensive, quarterly, and unannounced
Simple, unique, randomly, and exclusive
4
With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group.
•
market specialization
•
single-segment concentration
•
product specialization
selective specialization
5
A social definition of marketing says ______.
•
marketing is the process of extracting maximum value from consumers to facilitate corporate growth
•
marketing is the process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others
•
effective marketing requires companies to remove intermediaries to achieve a closer connection with direct consumers
a company should focus exclusively on achieving high production efficiency, low costs, and mass distribution to facilitate the broadest possible access to the company’s products
6
Which of the following can induce a firm to expand into the international arena?
•
Cater to a domestic mass market
•
A saturated domestic market
•
High income level of domestic consumers
A saturated foreign market
7
Marketers must see themselves as benefit providers. For example, when a shopper purchases new shoes, he or she expects the shoes to cover his or her feet and allow him or her to walk unobstructed. This is an example of what level in the consumer-value hierarchy?
•
Augmented product
•
Pure tangible product
•
Basic product
Potential product
8
Through its cutting-edge point-of-sale inventory, management technology, and highly efficient shipping practices, Wal-Mart is able to keep its inventory expenditure extremely low and to pass these savings on to consumers in the form of low prices. Wal-Mart's strategy is best described as ________.
•
differentiation
•
integrative growth
•
market development
overall cost leadership
9
_______ is an approach that considers different ethnic and cultural segments require targeted marketing campaigns and tactics.
•
Multicultural marketing
•
Specialized marketing
•
Ethnic-based marketing
Diversity marketing
10
BMW's "The ultimate driving machine," American Express' "Don't leave home with.
The Forgotten Secret Weapon of Digital Marketing: Email
Digital marketing is a rapidly changing, ever evolving industry--Influencers, Threads, X, AI, etc. But one of the most effective digital marketing tools is also one of the oldest: Email. Find out from two Houston-based digital experts how to maximize your results from email.
Key Takeaways:
Email has the best ROI of any digital tactic
It can be used at any stage of the customer journey
It is increasingly important as the cookie-less future gets closer and closer
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
Short video marketing has sweeped the nation and is the fastest way to build an online brand on social media in 2024. In this session you will learn:- What is short video marketing- Which platforms work best for your business- Content strategies that are on brand for your business- How to sell organically without paying for ads.
For too many years marketing and sales have operated in silos...while in some forward thinking companies, the two organizations work together to drive new opportunity development and revenue. This session will explore the lessons learned in that beautiful dance that can occur when marketing and sales work together...to drive new opportunity development, account expansion and customer satisfaction.
No, this is not a conversation about MQLs and SQLs. Instead we will focus on a framework that allows the two organizations to drive company success together.
Top 3 Ways to Align Sales and Marketing Teams for Rapid GrowthDemandbase
In this session, Demandbase’s Stephanie Quinn, Sr. Director of Integrated and Digital Marketing, Devin Rosenberg, Director of Sales, and Kevin Rooney, Senior Director of Sales Development will share how sales and marketing shapes their day-to-day and what key areas are needed for true alignment.
The What, Why & How of 3D and AR in Digital CommercePushON Ltd
Vladimir Mulhem has over 20 years of experience in commercialising cutting edge creative technology across construction, marketing and retail.
Previously the founder and Tech and Innovation Director of Creative Content Works working with the likes of Next, John Lewis and JD Sport, he now helps retailers, brands and agencies solve challenges of applying the emerging technologies 3D, AR, VR and Gen AI to real-world problems.
In this webinar, Vladimir will be covering the following topics:
Applications of 3D and AR in Digital Commerce,
Benefits of 3D and AR,
Tools to create, manage and publish 3D and AR in Digital Commerce.
Is AI-Generated Content the Future of Content Creation?Cut-the-SaaS
Discover the transformative power of AI in content creation with our presentation, "Is AI-Generated Content the Future of Content Creation?" by Puran Parsani, CEO & Editor of Cut-The-SaaS. Learn how AI-generated content is revolutionizing marketing, publishing, education, healthcare, and finance by offering unprecedented efficiency, creativity, and scalability.
Understanding
AI-Generated Content:
AI-generated content includes text, images, videos, and audio produced by AI without direct human involvement. This technology leverages large datasets to create contextually relevant and coherent material, streamlining content production.
Key Benefits:
Content Creation: Rapidly generate high-quality content for blogs, articles, and social media.
Brainstorming: AI simulates conversations to inspire creative ideas.
Research Assistance: Efficiently summarize and research information.
Market Insights:
The content marketing industry is projected to grow to $17.6 billion by 2032, with AI-generated content expected to dominate over 55% of the market.
Case Study: CNET’s AI Content Controversy:
CNET’s use of AI for news articles led to public scrutiny due to factual inaccuracies, highlighting the need for transparency and human oversight.
Benefits Across Industries:
Marketing: Personalize content at scale and optimize engagement with predictive analytics.
Publishing: Automate content creation for faster publication cycles.
Education: Efficiently generate educational materials.
Healthcare: Create accurate content for patients and professionals.
Finance: Produce timely financial content for decision-making.
Challenges and Ethical Considerations:
Transparency: Disclose AI use to maintain trust.
Bias: Address potential AI biases with diverse datasets.
SEO: Ensure AI content meets SEO standards.
Quality: Maintain high standards to prevent misinformation.
Conclusion:
AI-generated content offers significant benefits in efficiency, personalization, and scalability. However, ethical considerations and quality assurance are crucial for responsible use. Explore the future of content creation with us and see how AI is transforming various industries.
Connect with Us:
Follow Cut-The-SaaS on LinkedIn, Instagram, YouTube, Twitter, and Medium. Visit cut-the-saas.com for more insights and resources.
It's another new era of digital and marketers are faced with making big bets on their digital strategy. If you are looking at modernizing your tech stack to support your digital evolution, there are a few can't miss (often overlooked) areas that should be part of every conversation. We'll cover setting your vision, avoiding siloes, adding a democratized approach to data strategy, localization, creating critical governance requirements and more. Attendees will walk away with actions they can take into initiatives they are running today and consider for the future.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
A.I. (artificial intelligence) platforms are popping up all the time, and many of them can and should be used to help grow your brand, increase your sales and decrease your marketing costs.In this presentation:We will review some of the best AI platforms that are available for you to use.We will interact with some of the platforms in real-time, so attendees can see how they work.We will also look at some current brands that are using AI to help them create marketing messages, saving them time and money in the process. Lastly, we will discuss the pros and cons of using AI in marketing & branding and have a lively conversation that includes comments from the audience.
Key Takeaways:
Attendees will learn about LLM platforms, like ChatGPT, and how they work, with preset examples and real time interactions with the platform. Attendees will learn about other AI platforms that are creating graphic design elements at the push of a button...pre-set examples and real-time interactions.Attendees will discuss the pros & cons of AI in marketing + branding and share their perspectives with one another. Attendees will learn about the cost savings and the time savings associated with using AI, should they choose to.
Come learn how YOU can Animate and Illuminate the World with Generative AI's Explosive Power. Come sit in the driver's seat and learn to harness this great technology.
10 Video Ideas Any Business Can Make RIGHT NOW!
You'll never draw a blank again on what kind of video to make for your business. Go beyond the basic categories and truly reimagine a brand new advanced way to brainstorm video content creation. During this masterclass you'll be challenged to think creatively and outside of the box and view your videos through lenses you may have never thought of previously. It's guaranteed that you'll leave with more than 10 video ideas, but I like to under-promise and over-deliver. Don't miss this session.
Key Takeaways:
How to use the Video Matrix
How to use additional "Lenses"
Where to source original video ideas
Digital Commerce Lecture for Advanced Digital & Social Media Strategy at UCLA...Valters Lauzums
E-commerce in 2024 is characterized by a dynamic blend of opportunities and significant challenges. Supply chain disruptions and inventory shortages are critical issues, leading to increased shipping delays and rising costs, which impact timely delivery and squeeze profit margins. Efficient logistics management is essential, yet it is often hampered by these external factors. Payment processing, while needing to ensure security and user convenience, grapples with preventing fraud and integrating diverse payment methods, adding another layer of complexity. Furthermore, fulfillment operations require a streamlined approach to handle volume spikes and maintain accuracy in order picking, packing, and shipping, all while meeting customers' heightened expectations for faster delivery times.
Amid these operational challenges, customer data has emerged as an important strategy. By focusing on personalization and enhancing customer experience from historical behavior, businesses can deliver improved website and brand experienced, better product recommendations, optimal promotions, and content to meet individual preferences. Better data analytics can also help in effectively creating marketing campaigns, improving customer retention, and driving product development and inventory management.
Innovative formats such as social commerce and live shopping are beginning to impact the digital commerce landscape, offering new ways to engage with customers and drive sales, and may provide opportunity for brands that have been priced out or seen a downturn with post-pandemic shopping behavior. Social commerce integrates shopping experiences directly into social media platforms, tapping into the massive user bases of these networks to increase reach and engagement. Live shopping, on the other hand, combines entertainment and real-time interaction, providing a dynamic platform for showcasing products and encouraging immediate purchases. These innovations not only enhance customer engagement but also provide valuable data for businesses to refine their strategies and deliver superior shopping experiences.
The e-commerce sector is evolving rapidly, and businesses that effectively manage operational challenges and implement innovative strategies are best positioned for long-term success.
Monthly Social Media News Update May 2024Andy Lambert
TL;DR. These are the three themes that stood out to us over the course of last month.
1️⃣ Social media is becoming increasingly significant for brand discovery. Marketers are now understanding the impact of social and budgets are shifting accordingly.
2️⃣ Instagram’s new algorithm and latest guidance will help us maintain organic growth. Instagram continues to evolve, but Reels remains the most crucial tool for growth.
3️⃣ Collaboration will help us unlock growth. Who we work with will define how fast we grow. Meta continues to evolve their Creator Marketplace and now TikTok are beginning to push ‘collabs’ more too.
2. STRATEGIC DIRECT MARKETING
• This is long-term planning process usually spans
more than 2 or more years.
• Designed to help companies cope with
competition and marketplace change over a span
of several years.
• Purpose to achieve specific goals, allocate
resources and coordinate activities.
3. STRATEGIC MARKETING DECISIONS
COMPLEXITY
1. A large number of factors influence market
outcomes.
• Competitive reactions.
• Changing economic conditions.
• Willingness of consumers to try something new.
• All influence ultimate sales and profitability.
2. Many factors that influence market outcomes are
not controllable by marketing management.
• Changes in consumer preference.
• Increased competition both affects marketing plans.
• Changes in national or international economic conditions,
affects product sales and profitability.
4. STRATEGIC MARKETING DECISIONS
COMPLEXITY
3. Factors affecting the outcome of marketing plans
lack stability.
• Uncontrollable factors can change rapidly.
• Technology changes quickly in some markets i.e PC’s,
Smartphones etc.
• Impact of these are on sales and profitability.
4. Responses to allocation of marketing resources
are not linear.
5. LANDS’ END
• Company founded in 1963
• Its sales grew to about $992 million.
• Making lands’ End nation’s largest merchants.
• Sales growth was driven primarily by increases in
catalog circulation.
• The centerpiece of lands’ end brand identity is its
catalog.
• Contains half or full page descriptions.
• Essays and commentary about product usage and lifestyles.
6. LANDS’ END FOCUS
• Lands’ end reinforces its brand identity by being a
customer-service-oriented company.
• Prompt service and personal attention from a
dedicated staff.
• Fast shipping.
• Sophisticated computerized operating system.
• Huge distribution center to handle customer orders
7. LANDS’ END PRINCIPLE OF DOING
BUSINESS
• Principle 1. We do everything to make our products
better.
• Principle 2. We price our products fairly and honestly.
• Principle 3. We accept return, for any reason, at any
time.
• Principle 4. We ship faster than anyone we know of.
• Principle 5. We believe that what is best for our
customers is best for all of us.
• Principle 6. We are able to sell at lower prices because
we have eliminated middlemen.
• Principle 7. We are able to sell at lower prices because
we operate efficiently.
• Principle 8. We are able to sell at lower prices because
we support no fancy emporiums with high overhead.
8.
9. SUSTAINABLE COMPETITIVE
ADVANTAGE
• Competitive edge is a factor that make a firm’s
offering unique in eyes of customer.
• Strategic marketing involves achieving and
sustaining a competitive advantage.
• Where long-run above-average performance is
achieved by satisfying customers better than
competition does.
• Developing distinctive competencies is not optional
but is mandatory in competition.
10. STRATEGIC MARKETING PLANNING
PROCESS
1. Situation analysis
A. Extent of demand.
B. Nature of demand.
C. Strategy analysis.
D. Life-cycle image.
E. Macro environmental trends.
F. International issues.
G. Strengths and weaknesses.
H. Nature of competition.
2. Problem, Opportunities and threats
A. Problems.
B. Opportunities.
C. Threats
3. Objectives
4. Alternatives
A. Marketing alternatives.
B. Evaluation of alternatives
5. Decision
A. Recommendations.
B. Implementation.
C. Monitoring.
11. 1. SITUATION ANALYSIS
A. Extent of Demand:
• Defining the potential the actual or potential size of that market.
• This is a quantitative exercise because it provides information on
the unit and dollar sales demand for a category of products or
services.
B. Nature of Demand:
• Firm identifies buyers and their purchase decision-making
process.
• Segmentation:
• Segmenting market by homogeneous groups with respect to
what they want and how they buy.
• Estimating the size and potential of each segments.
12. 1. SITUATION ANALYSIS
• Decision Making:
• The firm needs to determine the who, what, where, when, why
and how of the purchase decision.
• How do buyers go about purchasing products or services.
C. Strategy Analysis
• The way to start is by delineating the objectives and related
successes of each marketing strategy.
• Marketing Strategy
• Integrated marketing strategy is in place for marketing mix.
• Consistent with overall program objectives.
• Product Strategy
• Product caters the need of current market.
• Is the performance of each product is evaluated.
13. 1. SITUATION ANALYSIS
• Distribution Strategy
• Ways to distribute a product or service to a firm’s target
market.
• Selecting most suitable option i.e. catalogs, mail, direct
response television ads etc.
• Pricing Strategy
• Prices are set according to competition.
• Target consumers are price sensitive or not.
• Promotion Strategy
• Consistent message is delivered in promotional campaign.
14. 1. SITUATION ANALYSIS
D. Life-Cycle Stage
• Adopting strategies and tactic according to product’s life-
cycle stage.
15.
16. 1. SITUATION ANALYSIS
E. Macro environmental Trends
• Impact of sociocultural, demographic, political, legal,
technological, economic and competitive environment.
17. 1. SITUATION ANALYSIS
F. International Issues
• Checking the standard disparities.
• Trade barriers i.e tariffs, levies and licensing etc.
G. Strengths and Weaknesses
• Strengths and weaknesses are internal.
• Like strengths of organization is its employees, dominating
market share.
• Should gauge them according to below mentioned
parameters.
• Marketing skills
• Production skills.
• Management skills.
• Financial skills.
• Research and development skills.
18. 1. SITUATION ANALYSIS
H. Nature of Competition
• Able to offer customers a distinctive features and services.
• Number of competitors are in the market.
• Able to maintain a sustainable competitive advantage.
19. 2. PROBLEMS, OPPORTUNITIES, AND
THREATS
A. Problems
• Symptoms of problems are declining sales, declining profits
and increasing costs.
• Problems are causes and symptoms are effects.
• Like firm list dropping sales as a problem but in fact it’s
symptom.
• Problem can only be identified by asking why sales are
dropped and you come to know that sales are dropping
because of low product quality, non-availability of a
product.
• Here problem is low product quality and non-availability of
a product.
20. 2. PROBLEMS, OPPORTUNITIES, AND
THREATS
B. Opportunities
• For firm any additional sales and an option to make added
profits is an opportunity.
• Exploring and entering new markets.
• Acquiring additional sales from existing opportunity.
• Catering new demands and wants of the consumer.
21. 2. PROBLEMS, OPPORTUNITIES, AND
THREATS
C. Threats
• For a firm threat is a challenge posed by an unfavorable
trend.
• Like increasing competition.
• Changing customer preferences and substitute products.
• Changes is demographics, changes in economic
conditions.
22. 3. OBJECTIVES
• Objective are the goals which organization tends to
achieve in the future and they plan their activities
according to their objectives.
• Quantifiable behavioral objectives are those which
can be easily counted such as number or order,
sales revenue.
• Unquantifiable non behavioral are those in which
firm wants to improve their image.
23. 4. ALTERNATIVES
• Alternatives are the strategic options or actions that
appear to be viable solutions to the problems.
• Alternatives should allow the firm to pursue
opportunities while avoiding threats.
• Marketing alternatives should address as many
topic areas as appropriate in terms of strategy-
related marketing mix and program.
• Evaluate the financial viability of alternatives.
24. 5. DECISIONS
A. Recommendations
• Address what actions should be taken and why, and they
include the main reason for believing that the
recommended courses of action are best.
B. Implementation
• Contains the specifics, including all elements in the
marketing mix, assigned tasks and resources allocations.
C. Monitoring
• Addresses strategy and control issues.
26. QUIZ#2
1. What do you understand by Sustainable
competitive advantage and how firms create
this?
2. What is strategic marketing?
3. List down Strategic Marketing Process?