Download Document

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)
 Adding Media
 Tying it All Together
2
Components of a SWOT Analysis
 Break up into Internal vs. External
 Internal Components
 Strengths
 Weaknesses
 External Components
 Opportunities
 Threats
 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 Analysis
 Internal Components
 Strengths
 Weaknesses
 Some Things to consider:
 Size and financial resources
 Scale and cost economies
 Customer perceptions
MyEntre.net (2010). Components of a marketing plan. Retrieved from
http://www.jpec.org/handouts/jpec33.pdf
4
Components of a SWOT Analysis
 External Components
 Opportunities
 Threats
 Some Things to consider:
 Trends in competitive environment
 Trends in technological environment
 Trends 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 Analysis
 A snapshot of a company’s current situation internally and
externally
 Internally-focused Actions
 Determine how to capitalize on your strengths
 Determine how to neutralize your weaknesses and if possible turn
them into strengths
 Without negatively affecting your existing strengths
 Externally-focused Actions
 Determine how to capitalize on your opportunities
 Determine how to neutralize your threats and if possible turn them
into opportunities
 Without negatively affecting your existing weaknesses
6
Spartan Example
 Let’s briefly discuss improvement Spartan can make
 Not just strategic ideas, but actions for implementation
 What actions can they take toward their weaknesses
 What actions can they take toward their threats
7
Group Exercise
 Let’s perform a quick SWOT Analysis of our own
 Let’s choose a topic:
 Toyota’s current situation
 Amazon Kindle (and the competition)
 Launch of the Apple iPad
 GM’s Market Position
 Other
8
Market Research – incl. Benchmarking
(from Week 3)
 Marketing is more than just advertising
 Research can be both Quantitative and Qualitative
 Research is used to:
 Determine customer needs (Whether B2B or B2C)
 Create or improve products/services
 Determine effective Marketing campaigns
 Benchmarking for Success
 You 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/Services
 Competitor Processes (including supply chains)
 Industry Best Practices
9
Marketing Plan Research
 External Analysis





Changes in political positions & legislation
Changes in technology
Trends in society (values and habits)
Competitor analysis
Economic situation
 Customer Analysis
 Current and potential customers
 Consumer buying trends
 Why do consumers purchase (or not purchase) the product/service
 Internal Analysis
 Current and anticipated state of HR and Finances
 Company 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 Plan
 Executive 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 Consider
 eMarketing – alone or in conjunction with other forms of
marketing/advertising (as discussed last week)




Pay Per Click
Banner Advertising
Email Marketing
Organic 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/services
 Seasonally
MyEntre.net (2010). Components of a marketing plan. Retrieved from http://www.jpec.org/handouts/jpec33.pdf
12
Tying It All Together
 Importance of a strong marketing plan in your business plan




Attracting investors
Helping to secure a loan
Gaining a better understanding of your competition and customers
A 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
13
Assignment (Combined Paper)
 Marketing Strategy (3-4 pages)
 How you plan to use marketing strategies to promote your business
 Necessary market research
 Ongoing costs as well as one-time fees
 Marketing Plan (5-6 pages)
 Benefits of market research
 SWOT analysis
 Marketing mix (4 Ps)
14
Final Questions?
15