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Marketing Strengths & Weaknesses

Marketing Strengths & Weaknesses. Product. Place. Target & Position. Price. Promotion. As MARKETING MANAGER. You’re will be responsible for:. Planning, implementing & controlling your marketing strategy. Marketing Managers become one- w/ Relationships betw. Price & demand

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Marketing Strengths & Weaknesses

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  1. MarketingStrengths & Weaknesses

  2. Product Place Target & Position Price Promotion As MARKETING MANAGER You’re will be responsible for: Planning, implementing & controlling your marketing strategy

  3. Marketing Managers become one-w/ Relationships betw • Price & demand • Price & margin • Promotion budget & awareness • Sales budget & accessibility • A/R policy & demand

  4. Fine tune your Promotion & Sales efforts:

  5. Marketing also selects media vehicles & message weights • AND determines composition of sales/distribution staff ..and allocation of their efforts by segment & Brand

  6. Promo Budget

  7. Advertising Budget Drives Awareness $3M buys 49% New products are newsworthy events. The buzz creates 25% awareness at no cost.

  8. Sales Budget Drives Access $3M buys ~31% (w/1 product) 33% (w/ 2+ products)

  9. Sales Budget & Time Allocations Decide on how many F2F salespersons, Webstirs, Customer support & Distributors…will have: How much effort will be focused on Individual Brands w/in channels: • OUTSIDE sales-meet face-to-face (cost $120K/each) • INSIDE sales-works leads & operates website & customer support systems (cost $50K/each) • Distributors: push product (cost $100K/each)

  10. A B Performance Direct R&D SIZE • Product Position • Age & Quality • New product development High High Eight < < < Low Low One Quality Age Prdt Line

  11. Establish product positioning to meet customer demand • Build quality & reliability (MTBF) into products • Create new products • Ensure age of product meets customer demands Drift

  12. The Big Q How good are your goods…

  13. R U Meeting Consumers’ Expectations?

  14. Portfolio Analysis Which Brands should receive more/ less/ no investment-Based on: • Product Position/ Potential • Profitability/ Margins • Market-Growth/Market-Share Matrix • Competitive Strategy

  15. Strategic Thinking- the ten big ideas 4. Portfolio theory- GE-(three-by-three matrix, using business strength & market attractiveness as variables). The Boston Consulting Group (BCG) introduced its two-by-two matrix-(invest in the stars, divest the dogs, milk the cows, and solve the question marks)

  16. G.E Strategic Planning Model Business Strength Strong Average Weak High Low Industry Attractiveness Business Strength IndexIndustry Attractiveness Index * Market Share * Market size * Price Competitiveness * Market Growth * Product Quality * Industry Profit Margin * Customer Knowledge * Amount of Competition * Sales Force and Effectiveness * Seasonality * Geographic Advantage * Cost Structure

  17. STARS PROBLEM CHILD CASH COWS DOGS Boston Consulting Group’s Growth-Share Matrix High Product-Market Growth (%) Low 10x 4x 2x 1.5x 1x .5x .2x.1x Relative Market Share High Low

  18. Complete Consumer Report @ CapSim Intro |  Perceptual Map 1 |  Perceptual Map 2 |  Demand Analysis |  Capacity Analysis |  Margin Analysis |  Consumer Report

  19. Portfolio Analysis & BrandPlans

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