Lecture 3 2 SLIDES UAC-1.pdf - WEEK 3 LECTURE Dr Rebecca Dolan CONSUMER DECISION MAKING INTRO TO MKTG S1 2019 Re-cap from last week Marketing Strategy

Lecture 3 2 SLIDES UAC-1.pdf - WEEK 3 LECTURE Dr Rebecca...

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14/03/2019 1 CONSUMER DECISION MAKING INTRO TO MKTG S1 2019 WEEK 3 LECTURE Dr. Rebecca Dolan The University of Adelaide Slide 2 Re-cap from last week The University of Adelaide Slide 3 Marketing Strategy The activities of selecting and describing one or more target markets, and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets The University of Adelaide Slide 3 SWOT analysis Internal External S W Strengths : things the company does well Weaknesses : things the company does not do well O T Opportunities : conditions in the external environment that favour strengths Threats : conditions in the external environment that don t relate to strengths or favour current weakness SWOT ANALYSIS ACTIONS: Build on a strength , Correct a weakness , Exploit an opportunity , Avoid a disaster-laden threat The University of Adelaide Slide 3 Environmental scanning The collection and interpretation of information about forces, events and relationships in the external environment that may affect the future of an organisation Social Demographic Economic Technological Political and legal Competitive Six macro-environmental forces The University of Adelaide Slide 3 BCG Portfolio Matrix Successful organisations have a portfolio of offerings (products and services) that possess different growth rates and market shares. BCG business portfolio analysis (BCG Matrix) Technique managers use to quantify performance measures and growth targets for individual SBU s Determine which SBU or offering generates cash and which one requires cash to fund the growth Setting Strategic Directions Where do we want to go? The University of Adelaide Slide 3 Setting Strategic Directions Where do we want to go? A strategic planning tool to help devise strategies for growth Four options four growth based on new or existing products, and new or existing markets. Market penetration (current product / current market) Market development (current product / new market) Product development (new product /current market) Diversification (new product / new market) Ansoffs Matrix (Diversification Analysis) The University of Adelaide Slide 3 The marketing mix (pg.24)
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14/03/2019 2 The University of Adelaide Slide 3 Admin, notices & updates The University of Adelaide Slide 4 Course Schedule
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14/03/2019 3 The University of Adelaide Slide 5 Quiz results (Week 1 and 2) The University of Adelaide Slide 6 Favourite (print) ads
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14/03/2019 4 The University of Adelaide Slide 7 The University of Adelaide Slide 8
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14/03/2019 5 The University of Adelaide Slide 9 The University of Adelaide Slide 10 1. Distinguish stages in the consumer purchase decision process 2. Distinguish among: routine, limited, & extensive problem solving
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