9 pages paper

ten_point_analysis_-_2014.ppt

Ten Point Analysis

Comprehensive Market Planning

1. Mission – what does it state?

2. Distinctive Competencies

Skills, talents experiences
Usually not more than three
What they do best…than the rest in the industry
Is usually some part of the integrated marketing concept – product, price, place, distribution, advertising, public relations, personal selling, sales promotion, branding, etc.
Also known as ‘differential advantage’ in the marketplace – what consumers consider the ‘talent’ of the company to be
Should be a paragraph for each distinctive competency (no more than three paragraphs)

3. Trends/conditions in the external Marketplace

What is happening in the marketplace that has ‘helped’ the companies overall performance
This is an external aspect..not internal
What is the condition of the market ‘mind’
What is the condition of the economy?
Example: increased unemployment give companies more ‘hiring’ power
Example: health conscious consumers eating better
Should be one paragraph explaining the external condition/trend

4. Organizational Objectives

Can be listed or in statement format – usually found after the mission statement
More specific than the information given in the mission…defines the mission more
Example: To increase market share by 12%
Can be from 5 to 25 or more…please paraphrase only 5 or less.
Not past accomplishments, but future endeavors
One paragraph

5. Strategic Business Units

Businesses, product lines, service offerings, profit centers
Description of ‘what’ the company sells in products or services
Can be very limited or may be very diversified
One paragraph that summarizes the product lines/brands that the company distributes

6.Boston Consulting Group Matrix

A matrix that analyzes a company’s strategic business units according to market share and market growth
Visually can illustrate the position of SBU’s as they appear in the marketplace
Helps in strategic planning in determining where the company may be strong or weak
Choose three SBU’s from question 5.

7. Organizational Strategy for Growth

Market penetration – existing product/existing market – SNHU graduate programs offered to more New Hampshire students – penetrating the market
Product development – new or improved product to existing market (car companies coming out with new cars each year)
Market development – existing product into a new market (juice boxes used to be just for children – elderly like them for the size)
Diversification – new products to new markets – getting into product/services that are ‘unrelated’ to what they currently do (RJ Reynolds getting into frozen foods)
4 paragraphs (one on each strategy)

8. Increase/decrease sales

9. Elements of Marketing Strategy

Demographic and psychographic
As many descriptors as possible
Analysis on pricing -
Skimming – high price high quality – specific market interested in products
Penetration – low price, lower quality in order to penetrate more people in the market
Distribution – limited – very few distribution sites, intense – many locations
Promotional/advertising strategies
Should be a paragraph on each area (market, price, distribution, promotion)

10. Elements of Market Planning

SWOT – the OT portion
What the market opportunities or threats are in the external environment that will either help/hinder the company’s future performance.
Example: Opportunity might be decreased unemployment thus more revenue for consumers to spend
Example: Threat – competitors overtaking your market share
One paragraph on opportunity and one on threat