Analyzing the Situation, Assessing Opportunities
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Transcript of Analyzing the Situation, Assessing Opportunities
Analyzing the Situation, Analyzing the Situation, Assessing OpportunitiesAssessing Opportunities
Situation Analysis (Just the Situation Analysis (Just the Facts)Facts)
The Situation Analysis functions as a ‘gathering point’ for information, facts uncovered about the marketing situation
Data appearing in the situation analysis is largely secondary and objective in nature
The Purpose of AThe Purpose of A SWOT Analysis SWOT Analysis
To define the main issues that must be addressed in the strategic planClarifies opportunitiesIdentifies problems
The Purpose of AThe Purpose of A SWOT Analysis SWOT Analysis
Issues identified in the SWOT analysis will be used to define the marketing and IMC objectives, strategies, and tactics
The Components of A SWOTThe Components of A SWOT
A complete SWOT analysis consists of two components
Strengths/Weaknesses (S/W) AnalysisOpportunities/Threats (O/T) Analysis
Strengths and WeaknessesStrengths and Weaknesses
“Internal factors” reflect situation-based considerations within a company’s control
Key Question: What factors internal to the company
influence the current situation?
StrengthsStrengths
Strengths refer to what a company has done well or been successful at to date
AutoZone Case:AutoZone has a strong reputation for
customer service unequaled to other competitors in the industry.
WeaknessesWeaknesses
Weaknesses refer to what a company needs to correct OR that has worked to a company’s disadvantage to date
AutoZone Case:AutoZone’s current distribution is limited to
“Sun Belt” states, such as Tennessee and Texas.
Opportunities and ThreatsOpportunities and Threats
“External factors” reflect situation-based considerations beyond a company’s control
But which have the potential to affect the future of the business
Key Question: What variables in the external environment
affect the company’s marketing challenge?
OpportunitiesOpportunities
Opportunities refer to external factors that may benefit the company if pursued
ATM Case: The bank has an opportunity to activate the
voice capability in the new ATM in order to better appeal to customers who desire personal service.
Opportunities (cont.)Opportunities (cont.)
AutoZone caseAutoZone has an opportunity to expand
its current outlets through acquisition of small repair shops and independent DIY retailers in Georgia and Oklahoma.
ThreatsThreats
Threats refer to external variables that may negatively affect the company if ignored
AutoZone Case:Slow growth in the auto parts industry
could limit AutoZone’s ability to expand quickly beyond the Sun Belt region.
SWOT Analysis: “Where Do SWOT Analysis: “Where Do We Go From Here?”We Go From Here?”
At the conclusion of the SWOT analysis, strategic planners should understand what the company’s alternatives are for solving the marketing challenge
Problems & OpportunitiesProblems & Opportunities
Problems & Opportunities Analysis is similar in purpose to a S/W/O/T
Its function is to assess and evaluate the objective information uncovered in the Situation Analysis
Problems & OpportunitiesProblems & Opportunities
Should not attempt to draw conclusions about how to solve issues raised in the Situation Analysis…
But to point out the potential that exists (good or bad) relative to the present situation
ProblemsProblems
Internal and external factors that can be identified as a weakness or potential threat to the marketer
OpportunitiesOpportunities
Untapped chances to grow or develop in a specific business area
Opportunities are “future-oriented” observations that, if implemented, could benefit the brand or brand situation
P&O Analysis: “Where Do P&O Analysis: “Where Do We Go From Here?”We Go From Here?”
At the conclusion of the Problems & Opportunities Analysis, strategic planners should understand what the company’s alternatives are for solving the marketing challenge