Marketing Planning and Practice
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Week3Lecture3.1Modelsforyourinsightanalysis.pptxMarketing Planning and Practice UMKDQD-15-2 Week 3 Lecture 3.1
Presented by
Michelle Jackson
Module Leader
w/c 22 February 2021
The Plan for This Week
The lectures will explain the importance of the micro-environment and organisational information for your insight analysis
The webinar will explore a key model – Porter’s Five Forces
The tutorial will encourage you to get started on your report
2
Key Models for Insight Analysis
In week 2 tutorial we considered the macro-environmental analysis (PESTEL)
Need to consider the micro-environment and internal environment of the firm
Together give us the ‘insight’ we need to write a plan
Internal
(controllable)
External
(uncontrollable)
Macro-economic
Micro-economic
Marketing planning is the process of applying marketing resources to achieve marketing objectives. The marketing audit is the systematic collection and analysis of information and data about the external environment and company operations. SWOT is a summary of the marketing audit under the headings of internal strengths and weaknesses as they relate to external opportunities and threats. A further step in matching the external (uncontrollable) and internal (controllable) variables and a structure for setting objectives and strategies.
Porter has designed many models. The 5 forces model looks at the company.
3
The Micro-environment
There are multiple ways to analyse elements of the micro-environment
It is critical to have an understanding of the market, competition and customers
Customers, suppliers, distributors, competition, public = micro-environment.
Micro-environmental Analysis
Close to the firm and its interactions with your target market, customers and competition
Market
Market Growth Rate, Market Share, Market Size
Market Segmentation
Market Attractiveness Factors
Supply Chain Analysis
Market Trends
Market characteristics, growth and trends
Physical distribution channels
Competition
Porter’s Five Forces Analysis
AD Little’s Competitive Position/Industry Maturity Matrix
Benchmarking Studies
Market Research
Media Usage/Marketing Expenses by Competitor
Pricing & Cost Structure, their Profitability & Financial Structure
Competitors’ Sales & Product Performance
Analyse Competitor advantages and disadvantages
Competitor Market Share & R&D activity
Customers
Customer Profiling
Customer Needs
Buying Behaviour -
Who buys (customer attributes),
What is bought (analysis of product & purchase characteristics)
Why they buy
Benefit Analysis (major products & differential benefits)
Share Of Market Analysis, Share Of Voice Analysis
Customer Satisfaction Index, Customer Profitability Score
Customer Turnover Rate, Customer Engagement
Customer Complaints
Buying behaviour
Analysing lost business
Customer care – services, cross selling
The Micro-environment
You should consider meaningful influences for your chosen sector
Gives insight to the organisation’s performance and market factors affecting opportunities and threats
Market conditions and organisational capability information can guide decision-making.
Application of models will require research beyond the organisation
Consider the competitive situation for example
