Market Strategies & Plan

8/6/2019 Market Strategies & Plan

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DevelopingMarketingStrategies &

Plans


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Developing the Market

Before venturing into a business, ask yourself;

1. Do you have the expertise in the business you are venturing?

The industry knowledge

Hands - on work experience

2. The capital to start?

If no, the source for funding.

3. The workforce?

If no, the source to obtain workforce.

4. The market for your product or services?

If no, the channel to market your product

or services.


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Marketing strategies

1. What will be your companys strength?

2. What differ your company from

your competitor?

3. How do your company add value to your

clients business?

Developing Marketing Strategies and Plans

4.What is your companys vision,mission and values?

5.Setback experienced and how you

tackle situation?


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QUESTION 1

Explain the role of a SWOT

Analysis during the strategicplanning process.


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SWOT Analysis

SWOT Analysis is a strategic planning method used

to evaluate the Strengths, Weaknesses,

Opportunities, and Threats involved in a project or in

a business venture. It involves specifying the

objective of the business venture or project andidentifying the internal and external factors that are

favourable and unfavourable to achieving that

objective.


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SWOT Analysis template sample

Strengths Weaknesses

Opportunities Threat

SWOT Analysis


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Strengths

y Advantages of proposition?y Capabilities?y Competitive advantages?y USP's (unique selling points)?y Resources, Assets, People?y Experience, knowledge, data?y Financial reserves, likely returns?y Marketing - reach, distribution, awareness?y Innovative aspects?y Location and geographical?y Price, value, quality?y Accreditations, qualifications, certifications?y Processes, systems, IT, communications?y Cultural, attitudinal, behavioural?Management cover, succession?

Weaknesses

Disadvantages of proposition? Gaps in capabilities? Lack of competitive strength? Reputation, presence and reach? Financials? Own known vulnerabilities? Timescales, deadlines and pressures? Cashflow, start-up cash-drain? Continuity, supply chain robustness? Effects on core activities, distraction? Reliability of data, plan predictability? Morale, commitment, leadership? Accreditations, etc? Processes and systems, etc? Management cover, succession?

Source-: http://www.businessballs.com/swotanalysisfreetemplate.htm

SWOT Analysis Questionnaires-


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SWOT Analysis Questionnaires-

Opportunities

Market developments? Competitors' vulnerabilities? Industry or lifestyle trends?

Technology development andinnovation? Global influences? New markets, vertical, horizontal? Niche target markets? Geographical, export, import? New USP's? Tactics - surprise, major contracts,

etc? Business and product development? Information and research? Partnerships, agencies, distribution? Volumes, production, economies? Seasonal, weather, fashion

influences?

Threats

Political effects? Legislative effects? Environmental effects? IT developments? Competitor intentions - various? Market demand? New technologies, services, ideas? Vital contracts and partners? Sustaining internal capabilities? Obstacles faced? Insurmountable weaknesses? Loss of key staff? Sustainable financial backing? Economy - home, abroad? Seasonality, weather effects?

Source-: http://www.businessballs.com/swotanalysisfreetemplate.htm


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Ansofts product-market expansion grid shows three intensive

growths strategies that can be used to assist a marketing

manager in finding creative ways to close a perceived strategic

gap. Characterize each of the cells of Ansofts grid.

QUESTION 2

2. Market development

strategy

3. Product-development

strategy

NEW PRODUCTS

Diversification strategy

Current

Markets

New

Markets

ANSOFTS PRODUCT-MARKET EXPANSION GRID

1. Market penetration

strategy

CURRENT PRODUCTS


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Application - SWOT Analysis

Independent Sales & Marketing Partners/Contractors

STRENGTH

1. Hands-on experience

2. Low investment,no

office required

3. Large pool of contacts

4. On call experience

part time workers,

5. mix of age/ethnicity

work force

6. Training,materials,

office equipmentprovided by clients.

7. Access to huge retail

database,industries by

industries.

8. Reputation

WEAKNESS

1. Clients constant

strategy change

2. Constantly interupting

workflow,adding

unrelated work ,riding

on the same cost.

OPPORTUNITIES

1. Huge outsource

market

2. Large mix of

industries,high

demand for service

3. Limited large scale

player

4. Can easily venture

into other service

related business

5. Large mature retired

work force,untapped

market

THREAT

1. Quality work force

2. High end retails require

skilled work force

3. Irregular work hours

4. Increased cost-when

client change strategy

5. Impromtu project

6. Too many

meetings,distrupt

workflow

7. Too many Terms and

conditions.Benefits

clients solely

S W O T


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Application of Ansofts grid-business strategy

1. Market penetration

strategy

CURRENT PRODUCTS

retail analysis findings

Training & Development

2. Market development

strategy

CURRENT PRODUCTS

Banks

Ad Agency

Telco

New

Markets

Healthcare

Government

Call Centres

3. Productdevelopment

strategy

NEW PRODUCTS

Diversification strategy

1. T & D for Expat on Culture/Work Ethics

2. R & D on culture differences

3. Work Process & Planning

4. Customer Service

5. Telephone Etiquettes

6. Event Management

Current

Markets

CURRENT PRODUCTS


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translating SWOT issues into actions

Albert Humphrey advocated that the six categories:

Product (what are we selling?)

Process (how are we selling it?)

Customer(to whom are we selling it?)

Distribution (how does it reach them?)

Finance (what are the prices, costs and investments?)

Administration (and how do we manage all this?)

provide a framework by which SWOT issues can bedeveloped into actions and managed using teams.


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When a company orindividual compromisesone time, whether it's onprice or principle, the

next compromise is rightaround the corner andyou can bet your lastnickel on it.

CONCLUSION

Zig Ziglar quotes (American motivational Speaker and Author.)

THANK YOU

Market Strategies & Plan

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