MBA-Marketing M-Developing Marketing Strategies
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Transcript of MBA-Marketing M-Developing Marketing Strategies
8/7/2019 MBA-Marketing M-Developing Marketing Strategies
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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 company¶s strength?
2. What differ your company from
your competitor?
3. How do your company add value to your
client¶s business?
Developing Marketing Strategies and Plans
4.What is your company¶s 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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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. Clients falsifying data
submitted when result
are not as expected.
3. 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 Ansoft¶s 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. Product±development
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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� ³When a company or individual 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