MKTG
MKTG3118 Lecture Five_BB.pptx

MKTG3118 Lecture Five_BB.pptx - Marketing Strategy and...

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Semester 2, 2017 Marketing Strategy Marketing Strategy and Planning Week Five External Environment Sim Game Update Group Report
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Semester 2, 2017 Marketing Strategy Semester 2, 2017 Overview of the Lecture External Environmental Factors Chapter 4 = Competition Most of the lecture Chapter 5 = Customers Minor part (covered elsewhere) Overview of Group Report
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Semester 2, 2017 Marketing Strategy Where are we? Leaderboards and Sim Game Update
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Semester 2, 2017 Marketing Strategy Group Report Task
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Semester 2, 2017 Marketing Strategy Semester 2, 2017 Mutual Banks/Credit Unions Smaller = typically $1-5b in assets Mutual bank= is not a BANK! 80-90 mutual banks (list we have 7 of them) That’s a month’s profit for a major bank Retail-based Clear point of differentiation from banks But also try to differentiate from each other Compared to a major bank More focused to individuals (no financial product, card loan, credit loan) Better mix of Strength/W More limited resources Plenty of opportunities as well (vrs leading bank), Theyre not market leaders, Steal ideas from competitor Will also need to adapt to threats So lots of strategy modification options(steal from competitor)
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Semester 2, 2017 Marketing Strategy Not a typical flowing report
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Semester 2, 2017 Marketing Strategy Shortened writing style
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Semester 2, 2017 Marketing Strategy Initial Approach
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Semester 2, 2017 Marketing Strategy Gathering competitive information Figure 4.5 Look at this project!! -how they strategize If see website, not much info Another one: 1. seek.com Senior jobs, they will tell you the job scope, paint picture of their vision -2. Media release (what we’re doing, news wothy stuff
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Semester 2, 2017 Marketing Strategy Any Initial Questions?
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Semester 2, 2017 Marketing Strategy External Environmental Factors
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Semester 2, 2017 Marketing Strategy Reviewing the Situation/Environment THE BUSINESS Technology change Social and lifestyle change Economic outlook Regulation and political issues Recent successes and failures $ position Staff Skills Culture Mgt. Values Capabilities Brands Advantages Stakeholder expectations Distributers (Retailers and wholesalers) Strategic partners Supplier relationships Consumers Loyal Customers New segments Direct and indirect competitors Various influencers
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Semester 2, 2017 Marketing Strategy Strategy Process Model Strategic 3C’s 4 th C = Context Internal environment SWOT Planning Gap
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Semester 2, 2017 Marketing Strategy Scope of Corporate Appraisal Figure 3.1
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Semester 2, 2017 Marketing Strategy Recap: The Role of the Marketer Various environmental factors Particularly considering changes in the situation Relevant to us? Degree of impact? Need to revise strategy? Ignore or continue to track S W O T Revised strategy?
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