Situation AnalysisMARK4210 Spring 2017
Situation Analysis(Customer, Competitor, Company)Market Selection(Segmentation, Targeting, Positioning)Marketing Mix Formulation(Product, Pricing, Distribution, Promotion)- Quantitative Analysis- Consumer BehaviorSimulation GamePharmaSimElements of Marketing StrategyFundamentals ApplicationCourse Roadmap
Today’s Agendasquare6Situation Analysissquare6Caselet
Situation Analysissquare6Effective marketing strategies are based on solid understanding of internal and marketing environmentssquare6Frameworks to collect, analyze, and synthesize information:square65C’s Analysissquare6Porter’s Five Forces Analysissquare6SWOT AnalysisSource: Marketing Analysis Toolkit: Situation Analysis, Steenburgh & Avery, Harvard Business School
square6One of the most important thing to understand is the needs/values the product fulfills/delivers for consumers square6Analyze direct and indirect product benefits to assess which attributes are important to consumerssquare6Distribution of consumer needs provides important input into segmentation and targeting decisions5C’s : Customer Analysis
Types of customer valuesEconomicPsychologicalFunctional5C’s: Customer AnalysisSource: Capon’s Marketing Framework, Capon, Wessex Publishing
5C’s: Customer Analysissquare6Types of customer valuessquare6Economic valuesquare6Provide financial benefits such as lower price or lower overall costs for customerssquare6Functional valuesquare6Products and services that provide tangible benefits and values that serve specific functionssquare6Psychological valuesquare6Typically satisfy status, affiliation, reassurance, risk and security needsSource: Capon’s Marketing Framework, Capon, Wessex Publishing
square6Analyze your business model square6Product/service offeringssquare6Revenue modelsquare6Core competenciessquare6Understand the financial aspectssquare6e.g., prices/margins, costs/expensessquare6Know your organizational componentssquare6e.g., management structure, corporate culture5C’s: Company AnalysisSource: Marketing Analysis Toolkit: Situation Analysis, Steenburgh & Avery, Harvard Business School
square6What’s your competitive advantage? square6Know your core competencies -- a deep proficiency that enables a company to deliver unique value to customerssquare6Porter’s Generic Strategies to achieve competitive advantagesquare6Cost leadership: Create low cost structures to be price competitivesquare6Differentiation: Differentiate by offering superior quality and/or unique product features or servicessquare6Focus: Target and serve a specific niche or market5C’s: Company AnalysisSource: Porter, Competitive Strategy: Techniques for Analyzing Industries and Competitors;
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