Transcript Mktg Unit 1 Chpt 2x - Renton School District

LEARNING TARGETS
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I can conduct a SWOT analysis
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I can name the three key areas of an internal company analysis
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I can Identify the factors in an environmental scan
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I can explain the basic elements of a marketing plan
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I can explain the concept of market segmentation
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I can analyze a target market
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I can differentiate between mass marketing and market segmentation
TARGET MARKET?
SECTION 2.1
• I can conduct a SWOT analysis
• I can list the three key areas of an internal company
analysis
• I can identify the factors in an environmental scan
• I can explain the basic elements of a marketing plan.
SWOT
• Internal
• Strengths
• Weaknesses
• External
• Opportunities
• Threats
SWOT Analysis: How to perform one for your organization
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• What are your strengths?
• What are you doing better than
your competitors?
• What can you continue to
improve upon?
• What do others perceive as your
strengths?
• What are your weaknesses?
• What do your competitors do
better than you?
• What can you improve, given the
current situation?
• What do others perceive as your
weaknesses?
• What trends or conditions may
positively impact you?
• What opportunities are available
to you?
• What trends or conditions may
negatively impact you?
• What are your competitors doing
that may impact you?
• Do you have solid financial
support?
• What impact do your
weaknesses have on the threats
to you?
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• Profitable
• Customer Relationship
Management
• Global Brand
• Original Dotcom
• Original Electronic Book
• Too Many Categories dilutes
brand
• Shipping Costs
• Too focused on their own
technology
• External Fullfillment
• Selling Expertise to other
companies
• Work with Public Sector
• Libraries
• Exclusive Offers from Publishers
• Many other retailers are folding
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New electronic books
Seasonality
Transportation Costs
Economy
New Countries have different
laws and requirements.
THREE AREAS OF AN INTERNAL COMPANY
ANALYSIS
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Company Analysis
 Staff
 Financial
 Production Capabilities
 Marketing Mix
 Product
 Price
 Promotion
 Place
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Customer Analysis
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Competitive Position
EXTERNAL/ENVIRONMENTAL SCAN
• Competition
• Political
• Economic
• Socio-Cultural
• Technological
ELEMENTS OF A MARKETING PLAN
Executive Summary
Situation Analysis
 SWOT analysis
 Environmental Scan
Objectives
 Mission
 Marketing objectives
 Financial objectives
Marketing Strategies
 Positioning and points of difference
 Marketing Mix
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Price
Product
Place
Promotion
Implementation
 Organization
 Activities and
responsibilities
 Timetables
Evaluation and control
 Performance standards and
measurements
 Marketing objectives
 Financial objectives
 Marketing mix strategies
 Corrective action
Appendix
SECTION 2.2 MARKET SEGMENTATION
• Explain the concept of market
segmentation
• Analyze a target market
• Differentiate between mass marketing
and market segmentation
DEMOGRAPHICS:
STATISTICS THAT DESCRIBE A POPULATION
• Age
• Gender
• Income
• Disposable income
• Discretionary income
• Marital Status
• Ethnic Background
GEOGRAPHICS: SEGMENTATION BASED ON WHERE YOU LIVE
PSYCHOGRAPHICS: GROUPING PEOPLE WITH SIMILAR LIFESTYLES
• Activities
• Attitudes
• Personality & Values
BEHAVIORAL: SEGMENTING BASED ON SHOPPING PATTERNS AND
USAGE RATE.
MASS MARKET VS. SEGMENTATION
MASS MARKET
S E G M E N TAT IO N
Products have
universal appeal
Products have specific
uses
Products have few
unique features
Products are unique
Products don’t appeal
to everyone.
REVIEW
1) Which type of income, disposable or discretionary is more
important to businesses that sell expensive watches, second
homes and financial services?
2) Of what significance are the combined African American,
Hispanic and Asian-American population to marketers?
3) A recent study shows that teens are drinking more bottled water
and reducing the amount of carbonated beverages they drink.
Which psychographic or lifestyle trend does this study support?
4) If 93% of the US Population of 290,890,777 (2003 estimate)
snacks at lease once a day, how large is the market for snack
foods?
5) Why does the United States conduct a census of its residents
every ten years?