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ENT 4210 – meeting no. 2

ENT 4210 – meeting no. 2. Agenda Introduction: industry/competitor analysis (chs 3-4) Case presentations: focus, main challenges, and plan (15 minutes per group) . Marketing Plan.

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ENT 4210 – meeting no. 2

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  1. ENT 4210 – meeting no. 2 Agenda • Introduction: industry/competitor analysis (chs 3-4) • Case presentations: focus, main challenges, and plan(15 minutes per group)

  2. Marketing Plan A marketing plan is a written document containing the guidelines for the business center’s marketing programs and allocations over the planning period.

  3. Hierarchy of Planning Corporate Strategic Planning Group or Sector Planning SBU Planning Annual Marketing (Business) Plan

  4. Objectives of a Marketing Plan • Define the current business situation. • Define problems and opportunities facing the business. • Establish objectives. • Define the strategies and programs necessary to achieve the objectives.

  5. Objectives of a Marketing Plan cont. • Pinpoint responsibility for achieving product objectives. • Encourage careful and disciplined thinking. • Establish a customer/competitor orientation.

  6. Frequent Mistakes in the Planning Process • The speed of the Process • The Amount of Data Collected • Who does the Planning? • The Structure • Length of the Plan

  7. Frequent Mistakes in the Planning Process(cont) • Number of Courses of Action Considered • Who Sees the Plan • Not Using the Plan as a Sales Document • Insufficient Senior Management Leadership • Not Tying Compensation to Successful Planning Efforts • Frequency of Planning

  8. Marketing Planning Sequence Update historical data Collect current situation data Data analysis Develop objectives, strategies, programs Develop financial documents Negotiate final plan Measure progress toward objectives Audit

  9. Marketing Plan Summary • Executive summary • Situation analysis • Category/competitor definition • Category analysis • Company and competitor analysis • Customer analysis • Planning assumptions

  10. Marketing Plan Summary cont. • Objectives • Product/brand strategy • Supporting marketing programs • Financial documents • Monitors and controls • Contingency plans

  11. Bases of Competition • Customer-oriented Who they are – competition for same budget When they use it Why they use it- benefits sought • Marketing-oriented: advertising and promotion Theme/copy strategy Media Distribution Price

  12. Bases of Competition cont. • Resource-oriented Raw materials Employees Financial resources • Geographic

  13. Levels of Competition Beers Ice cream Tea Regular colas Diet lemon limes Diet-Rite cola Wine Product form competition: Diet colas Diet Pepsi Diet Coke Juices Fast food Fruit flavored colas Product category competition: Soft drinks Video rentals Lemon limes Bottled water Generic competition: Beverages Coffee Baseball cards Budget competition: Food and entertainment

  14. Energy Bar Competition Other Snacks Healthy Snacks Snack/Health Bars Energy Bars Odwalla Power Bar Balance Bar Clif Nutrigrain Bars Slimfast Bars Granola Bars Fruits Nuts Juice Crackers Chips Candy

  15. PDA Competition

  16. Attractiveness of Market Variables

  17. Category Attractiveness over the Product Life Cycle Sales Stage of product life cycle Time Decline Moderate Negative Low Introduction Small Low Low Maturity Large Low Low/high Growth Moderate High High Category size Category growth Category attractiveness

  18. Category Factors • Threat of new entrants • Bargaining power of buyers • Bargaining power of suppliers • Current category rivalry • Pressure from substitutes • Category capacity

  19. Environmental Factors • Technological • Political • Economic • Regulatory • Social

  20. Typology of Technical Developments Process Diffusion Innovation Invention Defense Energy Materials Technology Welfare Transportation Commercial Information Impetus Genetic* * Includes agronomic and biomedical developments.

  21. Conceptualizing Political Risks

  22. Projected Change in U.S. Population 1995-2005

  23. PDA: Category Attractiveness Analysis + + + + + +/0 Aggregate Market Factors Attractiveness Market Size • $2.3 billion Market Growth 0%-40% Product Life Cycle Growth Profits Good Sales Cyclicity one Sales Seasonality one

  24. PDA: Category Attractiveness Analysis - 0 + 0 + - Category Factors Attractiveness Threat of New Entrants • Moderate; R&D required, distribution Bargaining Power of Buyers Low, high switching costs Bargaining Power of Suppliers Moderate; PCs use similar components Category Rivalry Intense Pressure from Substitutes High Category Capacity Not a problem for now

  25. PDA: Category Attractiveness Analysis + - + + Environmental Factors: Attractiveness Technological • Very sensitive Political/ Regulatory Telecommunications deregulation Economic Relatively inexpensive Social More work done on the road

  26. Competitor Analysis System Secondary data Primary data • Key questions: • Who are they? • What are the competing product features? • What do they want? • What is their current strategy? Differential competitor advantage analysis i.e. Who has the competitive product advantage? What are they going to do?

  27. Primary Sources of Competitor Information Sales Force Investment Bankers Suppliers Customers Employees Consultants/ Specialized Firms Primary Data

  28. Secondary Sources of Competitor Information Government Internal Sources Local Newspapers Annual Reports Patent Filings 10Ks Secondary data Business Press News Releases Trade Associations Promotional Literature Internet Trade Press Consultants Electronic Databases Customer Communications

  29. Other Sources of Competitor Information Trade Shows Help-Wanted Advertisements Plant Tours Reverse Engineering Monitoring Test Markets Hiring Key Employees Primary Data

  30. Sources with Ethical Considerations • Aerial reconnaissance • Buying/stealing trash • Bribing printers • Running phony want ads • Snooping on airplanes

  31. Assessing Competitors’ Strategies • Marketing strategy • Comparing value chains • Marketing mix • Pricing • Promotion • Distribution • Product/Service capabilities

  32. Criteria to Assess Technological Strategy • Technology selection or specialization • Level of competence • Sources of capability: internal versus external • R&D investment level • Competitive timing: initiate versus respond • R&D organization and policies

  33. Competitor Information to Collect • Ability to conceive and design • Ability to produce • Ability to market • Ability to finance • Ability to manage

  34. PDA Product Features Matrix

  35. Comparison of Competitor Resources: PDAs

  36. Comparison of Competitor Resources: PDAs (cont.)

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