market planning swot analysis market segmentation j sutherland herriman high
TRANSCRIPT
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J Sutherland Herriman High
MARKET PLANNINGSWOT Analysis
Market Segmentation
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SITUATIONAL ANALYSIS
Good Marketing begins with good planning Companies must look critically within to recognize strength
and weaknesses Must also look for opportunities and threats from outside the
company as well
• External
• Harmful
• External
• Helpful
• Internal
• Harmful
• Internal
• HelpfulStrengt
hsWeaknesses
ThreatsOpportunities
And so SWOT is born...
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INTERNAL Strengths vs WeaknessesHow the business operates
Company What does the company do
well, and weak.
Review of the staff It’s financial situation Production capabilities Marketing Mix
Customers Studying their buying habits.
Who are your customers? What, when, and how much do
they buy? How do customers rate the
company
Competition How are you compared to the
competition? What is the company’s market
share? Are competitors taking business
away from the company?
• Internal
• Harmful
• Internal
• HelpfulStrength
sWeakness
es
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EXTERNAL
Competition Must know what the
competitors are doing at all times
Changes in a competitor’s financial situation can provide opportunities
Environmental Scan What’s happening in the
world? Politically Economic Socio-cultural Technological
Opportunities and Threats What is happening outside??
• External
• Harmful
• External
• Helpful
ThreatsOpportunities
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ROMI
Return On Marketing Investment – A measurement organizations
calculate that helps them evaluate their marketing investment
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MARKET SEGMENTATION
Businesses look for ways to connect with current and potential customers
They need to know these people well. Where they live Their income level Age Ethnic background Activities Values Interests
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MARKET SEGMENTATION
Marketers analyze groups of customers and break them down to smaller, more precise clusters.’
For example: Jeans Who is buying? At what price? What special features do they want?
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DEMOGRAPHICS Describe a population based in terms of
personal characteristics Age
Baby Boomers – Born between 1946-1964 Generation X – early 1960s to the early 1980s Generation Y - early 1980s to the early 2000s Generation Z - early years of the 2000s to the present
Gender Income Marital Status Ethnic Background
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GEOGRAPHICS
Segmentation of market based on where people live Local Regional National Global markets
For example: A small restaurant will cater to people who live near by Coca-Cola and Pepsi are marketed internationally
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PSYCHOGRAPHICS
Grouping people with similar lifestyles as well as: shared attitudes Values Personalities Opinions
How a shared group spends their time and money
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BEHAVIORAL
Looking at the benefits desired by the customer Shopping patterns Usage rates
For example:MasterCard research revealed five groups of online customers:• Confident core users• Cautious shoppers• Mainstream users• Curious but not convinced• And technology skepticsThe overriding finding was that enhanced security influenced purchasing decisions.
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