Week 2: Strengths analyses and planning

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Societal Marketing:

looks at social consequences. Eg. Activism.

PEST

Politics- stability and attitude,

economics competitors and growth rate,

sociological- current trends, beliefs, class and how much people are prepared to pay and

technological- making a stream lined robotic production line: tesla

SMART

specific, measurable, attainable, realistic and timely. eg. KPI

-if it doesn't get measured it doesn't get done-

SWOT

internal issues include culture, people, facilities and orientation.

external comes from PEST

Corporate strategic planning:

1. define mission: who are our customers, what field are we in

2. evaluate the environment (PEST)

3. Set organisation objectives (SMART)

4. Portfolio

5. Growth strategy: scenario planning.

Hierachy:

corporate business; functional

overall; sbu; implementation

Marketing Planning(supports strategic planning

Analyse situation (pest)

set objectives

develop strategy

implement the strategy

monitor and control: market research- metric

marketing myopia:

define the business too narrowly

if tesla defined itself as making cars they would be going broke. since they also make batteries they're now bigger than ford.

model x was a failure of market research.

tesla100 has self driving capability, it just costs to unlock it.

Competitive advantage

product/niche/sustainable

tesla: has a lot of good will behind their brand name as demonstrated from people's willingness to pay a deposit.

caterpillar competes on having a strong dealer network

Ansoff growth martrix (opportunity matrix) :

choose one of these categories for project.

market penetration: happy meals

product development

market development: opening new stores

diversification: new, unrelated line.

Portfolio matrix- used to allocate $$

star: fast growing

cashcow: generates $

question mark: rapid growth but poor profit (tesla x)

dog: low growth potential

marketing order: (in bigger circles) target market, 4 ps, PEST

Ethics-trade practices act:

s54 what you can and can't do in business.