DS Lecture 3
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This document provides an overview of frameworks and analyses for conducting a situation analysis as part of developing a digital strategy. It describes frameworks for analyzing the macro environment including PESTEL and Porter's Five Forces. It also covers analyzing the micro environment including stakeholders, customers, competitors, and an organization's internal strengths and weaknesses using models like McKinsey 7S and TOWS analysis. The goal is to understand opportunities and threats to inform objectives, strategy, and tactics.
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DS Lecture 3
- 1. digital Strategy #DS 3 situation analysis
- 2. SOSTAC planning framework planning framework… 1 2 3 4 5 6 situation analysis objectives strategy tactics action control growth position competitive corporate marketing digital resources scheduling Smith, 1990 7P’s
- 3. 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 situation analysis...
- 4. PESTEL analysis… Your Notes PESTEL Factors Potential Impact Implications & Importance About your organisation & how the factors might impact on DIGITAL 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
- 5. …what’s going on? growth of e- m- and now s-commerce showrooming and webrooming media fragmentation …changing legislation, GDPR, PECR, Cookies, Parody… …3D printing, AR, VR, graphene, wearable tech, Li-Fi, Blockchain …disruption and innovation …increasing online video audiences Multi-screening and “hyper connectivity” BIG data and AI …market economies, new economies and currencies
- 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 situation analysis...
- 10. stakeholder analysis... Which publics are important to the firm’s operations? How strong are company-stakeholder relationships? What is the impact of corporate actions on these publics? Are they increasing or decreasing in importance? What actual or potential impact could they have on the business? What are the interests of each relevant public? Which groups pose a threat and which an opportunity? What are their communications needs?
- 11. Monitor… Minimal Effort Keep Informed Keep Satisfied Key Players
- 12. customer analysis... segment characteristics decision-making process involvement perceived risks awareness, perception and attitude influence media consumption and use
- 13. digital media consumption in the UK, 2019… 87% of go online using any device, any where… Smartphone is the online device of choice, 68% of daily internet access Average daily time online is 3 hours 15 minutes Internet advertising spend now £300billion globally Increasing concerns in online hate, fake content, data and privacy Ofcom, 2019, eMarketer, 2019 More than a third of time online is spent on Google/Facebook sites TV viewing is declining… now 3 hours 12 minutes
- 20. Porter’s five forces… Bargaining power of suppliers Threat of new entrants Threat of substitutes Bargaining power of customers Intensity of existing rivalry Porter, M, 1979
- 21. …using the strategic groups model C E A B D Firms within a strategic group have similar strategies Strategic dimension 1 Strategic dimension 2 The relative position of groups shows how alike or different their strategies are Adapted from Porter, 1980
- 22. investment priorities, objectives & goals market importance & commitment relative strengths & weaknesses competitors - now? 5 years on? weaknesses making them vulnerable changes likely in future strategies ‘7 step competitor analysis drill’ effect on industry, market & you Davidson, 1997
- 23. INBOUND LOGISTICS OPERATIONS OUTBOUND LOGISTICS MARKETING &SALES SERVICE FIRM INFRASTRUCTURE HUMAN RESOURCE MANAGEMENT TECHNOLOGY DEVELOPMENT PROCUREMENT Support activities Primary Activities Source: Porter Porter’s value chain… Porter, M, 1985
- 24. website analysis. user experience… UX traffic Findability and SEM content Responsiveness and mobile interaction …analytics
- 25. similarweb.com
- 26. …social media presence comments, likes, fans, traffic… …follows, RTs, favourites, reactions Facebook, LinkedIn, Twitter, Instagram, Pinterest, blogs… …sentiment analysis …social bakers socialmention Paid for tools like Radian6 or Wildfire
- 27. social searcher
- 28. seoptimer
- 29. Internal analysis... strengths and weaknesses linked to use and availability of resources… and analysis of current digital activity…
- 30. …McKinsey 7S Framework Strategy... the plan(s) devised to maintain and build competitive advantage over the competition Systems...the daily activities and procedures that staff members engage in to get the job done Shared Values... the core values of the company that are evidenced in the corporate culture and the general work ethic Structure...the way the organisation is structured and who reports to whom Style... the style of leadership adopted Staff... the employees and their general capabilities Skills... the actual skills and competencies of the employees working for the company.
- 31. …simplistic but often used model …designed to help identify key causes of problems in organisation’s as a TQM approach Can use it for human, financial, material and asset audit… for strengths and weaknesses 5M’s..? men, money, minutes, machines, management
- 32. also consider… …strengths and weaknesses of current digital mix website social media… UX traffic and flow CGM …web presence model 1. brochurewear 2. transactional 3. entertainment 4. affiliate 5. relationship
- 33. 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