1 / 27

MARKETING STRATEGY O.C. FERRELL • MICHAEL D. HARTLINE

MARKETING STRATEGY O.C. FERRELL • MICHAEL D. HARTLINE. 4. SWOT Analysis A Framework for Developing Marketing Strategy. “A widely used framework for organizing and utilizing the pieces of data and information gained from the situation analysis…”

carlo
Télécharger la présentation

MARKETING STRATEGY O.C. FERRELL • MICHAEL D. HARTLINE

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. MARKETING STRATEGYO.C. FERRELL • MICHAEL D. HARTLINE 4 SWOT Analysis A Framework for Developing Marketing Strategy

  2. “A widely used framework for organizing and utilizing the pieces of data and information gained from the situation analysis…” Encompasses both internal and external environments One of the most effective tools in the analysis of environmental data and information SWOT Analysis

  3. Effectiveness of Analysis Tools Exhibit 4.1

  4. Simplicity Lower Costs Flexibility Integration and Synthesis Collaboration Major Benefits of SWOT Analysis From Exhibit 4.2

  5. Stay Focused Search Extensively for Competitors Collaborate with other Functional Areas Examine Issues from the Customers’ Perspective Look for Causes, Not Characteristics Separate Internal Issues from External Issues Directives for a ProductiveSWOT Analysis From Exhibit 4.3

  6. It is a mistake to complete one generic SWOT analysis for the entire organization or business unit. When we say SWOT analysis, we mean SWOT analyses. Stay Focused

  7. Information on competitors is an important aspect of a SWOT analysis. Look for all four types of competition: Brand competitors Product competitors Generic competitors Total budget competitors Search Extensively for Competitors

  8. Marketing Strategy in Action • This 2002 ad for Fruitopia, a fruit drink by the makers of Coke, shows that even the soft drink giants have had to respond to other sources of competition than traditional brand competitors. • Can you think of other products that illustrate the effects of competition other than the effects of brand competitors?

  9. Information generated from the SWOT analysis can be shared across functional areas. SWOT analysis can generate communication between managers that ordinarily would not communicate. Creates and environment for creativity and innovation. Collaborate with OtherFunctional Areas

  10. To do this, the analyst should ask: What do customers (and non-customers) believe about us as a company? What do customers (and non-customers) think of our product quality, customer service, price, overall value, convenience, and promotional messages in comparison to our competitors? What is the relative importance of these issues as customers see them? Taking the customers’ perspective is the cornerstone of a well done SWOT analysis. Examine Issues fromthe Customers’ Perspective

  11. Causes for each issue in a SWOT analysis can often be found in the firm’s and competitors’ resources. Major types of resources: Look for Causes, Not Characteristics

  12. Failure to understand the difference between internal and external issues is one of the major reasons for a poorly conducted SWOT analysis. Socratic Advice: “Know thyself” “Know thy customer” “Know thy competitors” “Know thy environment” Separate Internal fromExternal Issues

  13. Discussion Question • Why are industries and firms often so reluctant to adapt to changes in their external environments? Other than the music recording industry, what other industries or firms seem to be slow to change? Why?

  14. Strengths and Weaknesses Scale and Cost Economies Size and Financial Resources Intellectual, Legal, and Reputational Resources Opportunities and Threats Trends in the Competitive Environment Trends in the Technological Environment Trends in the Sociocultural Environment The Elements of a SWOT Analysis

  15. The Starbucks Experience

  16. Four issues the marketing manager must recognize: (1) The assessment of strengths and weakness should look beyond products and resources to examine processes that meet customer needs. Offer solutions to customer problems instead of specific products. (2) Achieving goals and objectives depends on transforming strengths into capabilities by matching them with opportunities. (3) Weaknesses can be converted into strengths with strategic investment. Threats can be converted into opportunities with the right resources. (4) Weaknesses that cannot be converted become limitations which must be minimized if obvious or meaningful to customers. SWOT-Driven Strategic Planning

  17. Analysis of the SWOT Matrix • SWOT Matrix: • A four-cell array used to categorize information at the conclusion of a SWOT analysis. • Should be based on customer perceptions, not the perceptions of the analyst. • Elements with the highest total ratings should have the greatest influence in marketing strategy. • Focus on competitive advantages by matching strengths with opportunities.

  18. The SWOT Matrix Exhibit 4.6

  19. Quantitative Assessment ofElements Within the SWOT Matrix Exhibit 4.7

  20. Discussion Question • Strengths, weaknesses, opportunities, and threats: Which is the most important? Why? How might your response change if you were the CEO of a corporation? What if you were a customer of the firm? An employee? A supplier?

  21. Leveraging Competitive Advantages • Competitive advantages can arise from many external or internal sources. • Competitive advantages refer to real differences between competing firms. • Three basic strategies for competitive advantage: • (1) Operational Excellence • (2) Product Leadership • (3) Customer Intimacy

  22. Common Sourcesof Competitive Advantage From Exhibit 4.8

  23. Discussion Question • Support or contradict this statement: “Given the realities of the new economy and the rapid changes occurring in business technology, all competitive advantages are short lived. There is no such thing as a sustainable competitive advantage that lasts over the long term.” Defend your position.

  24. Establishing a Strategic Focus • Four major directions for strategic efforts: • Aggressive (many internal strengths / many external opportunities) • Diversification (many internal strengths / many external threats) • Turnaround (many internal weaknesses / many external opportunities) • Defensive (many internal weaknesses / many external threats) • These are the most common, but other combinations of strengths and weaknesses are possible.

  25. Strategic Turnaround at Chrysler

  26. Developing MarketingGoals and Objectives • Developing Marketing Goals • Attainability • Consistency • Comprehensiveness • Intangibility • Developing Marketing Objectives • Attainability • Continuity • Time Frame • Assignment of Responsibility • Moving Beyond Goals and Objectives

  27. 2003 Baldrige Award Criteriafor Performance Excellence Exhibit 4.10

More Related