Transcript marketing - Moodle - Stephenson College

Unit 1: Marketing
MARKETING PROCESS OVERVIEW
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Introduction
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The marketing process is about strategy
and planning and covers many topics
and areas.
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Contents
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Marketing audits
Integrated marketing
Environmental analysis
SWOT analysis
Marketing objectives
Constraints/options
Target markets and the marketing mix
Scope of marketing
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Marketing audit
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Looks at the internal environment: the
strengths and weaknesses within the
business regarding structure and personnel
Considers marketing capabilities: looking
specifically at the marketing function within
the business
Performance evaluation: is the marketing
function achieving as expected?
Competitive effectiveness: what does the
business understand about its competitors?
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Integrated marketing
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Brings together all organisation’s marketing
strategies to a single vision
Enterprise becomes a cohesive unit with a
single overall goal based on maximising
awareness among the target audience
Provides organisations with a competitive
edge
Stops parts of organisation working in
isolation
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ENVIRONMENTAL ANALYSIS
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Sometimes called ‘environmental scanning’ keeping eyes and ears open to what is
happening in the market place
Sources of information include trade journals,
newspapers, exhibitions, feedback,
competition
Market Intelligence: the result of
environmental scanning, ie: the market data
Competitor intelligence: as above, purely for
competitiors
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SWOT ANALYSIS
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One way in which a business can
formulate a strategy is though SWOT,
which helps identify strategic direction
Sets focus on;
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STRENGTHS
WEAKNESSES
OPPORTUNITIES
THREATS
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INTERNAL
EXTERNAL
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EXAMPLE OF SWOT
Strengths
Weaknesses
Specialised mortgage supplier
Relatively new advisory/sales
team in place, still undergoing
some training
Opportunities
Threats
Moving in to international
markets within next 12 months
High borrowing rates and
economic downturn
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Exercise 1
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If you were carrying out a SWOT
analysis on Stephenson College, what
kind of things would you put in to it?
Have a go!
Other strategy formulations are
competitive strategies and growth
strategies – see final slide
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MARKETING OBJECTIVES
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Provide direction for activities to follow
Marketing objectives should be;
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Achievable: based on practical analysis of an
organisations capabilities
Understandable: need to be clear
Challenging: everyone should have to strive
Measurable: quantification makes it possible to
record progress and make adjustments if needed
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CONSTRAINTS ON
MARKETING ACTIVITIES
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There are certain constraints that
organisations need to overcome;
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Internal constraints
External constraints
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Consumers
Competitors
Economy
The law
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OPTIONS
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After carryout out the various activities
described within the marketing audit a
number of options are presented to
organisations;
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Type of market
Competitive environment
Groups it serves
Whether the organisation is a risk taker or
not
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PLANNING TARGET MARKETS
AND MARKETING MIX
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Need to decide on a target market and
then the correct marketing mix can be
established
The basic Marketing Mix is also known
as the 4 P’s
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THE MARKETING MIX (4 P’S)
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P_ _ _ _ _ _
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P____
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P____
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P________
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Scope of the marketing mix
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Marketing activities help business
organisations to generate profit and
income, the life blood of an economy
Enhances customer awareness
Marketing costs absorb about half of
what the consumer spends
Marketing affects everyone in one way
or another
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The Marketing Plan
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Combines all data, information,
objectives into a plan which will
compliment the overall business
strategic plan
Includes: sales targets; budgets; pricing
decisions; forecasts; locations/outlets;
time periods; methods of promotion
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Further research
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BPP book Chapter 2
Topics contained within this
presentation, including competitive and
growth strategies in marketing
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