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7/28/2019 Week02 Macro Environment
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Strategic Marketing OverviewMacro View and Strategic Direction
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Macro Environment Market Analysis Competitors
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SITUATION ANALYSIS
Marketing Planning Process
OBJECTIVES and POSITIONING
STRATEGIES & TACTICS
1. Generic/ Growth Strategies
2. Marketing Mix:
(Products & Services; Price; Place;Promotion)
BUDGET
EXECUTION & CONTROL
EVALUATIONSource: Rothschild (1992)
MISSION
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Chance favors the prepared mind.
- Louis Pasteur
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Strategic Marketing Planning
Strategic analysis of the externalmarketing environment
Market information and intelligence
Strategic analysis of the internalmarketing environment
Determine a Strategic best fit basedon the conclusions from the above
University ofGloucestershire BusinessSchool 5
Everest Mountain Climbing
You better have a good map andknow how to read it
You better understand weatherpatterns and know what you canhandle
You better know your team well,their capabilities and limitations
You need the right equipment forthe job and you need to know how touse it.
The plan of attack better have all ofthis in mind.
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University of Gloucestershire Business School
Macro Environment
economy, technology, culture, legislation,politics, infrastructure
Competitive or Operating Environment customersintermediaries, suppliers, existing and potential competitors,
employees, media, administrators, interest groups.
Source; West, Ford and Ibrahim (2006)
Operational or Internal Environment Corporate policy, competitive strategy,management
systems, resources & capabilities
Management Decision Makers
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Marketing Audit / Planning
External Analysis Customers Competitors
Markets
PEST
Suppliers
Intermediaries
Opportunities and
Threats
Internal Analysis
Performance:- market; financial;
processes; culture
Resources, capabilities
and competencies
Brand and product
portfolio
Strengths andWeaknesses
Marketing programmesMarketing mix tactics
(7Ps or 4Ps)
Adapted from Flynn (1999),
Dibb et al. (2006) &Drummond and Ensor,
(2001), West et al. (2006)
Organisational mission,
goals and corporate
objectives
9
Marketing StrategyAchieving a superior competitive
position within a defined market
Products to offer
Market segments to target
Market positioning
Competitive position tactics
Relationship strategies
Marketing objectives
Implementation,Monitoring and ControlSchedules and budgets
Generating strategic options:
Portfolio models (E.g. BCG, GE)
ANSOFF
Strategies for leaders,
challengers, etc
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External
Analysis
Strategic Decisions
Where to compete
How to compete
Analysis
Information-need areas
Scenario analysis
Identification
Trends/future events
Threats/opportunities
Strategic uncertainties
Figure 3.1
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David Aaker, DamienMcLoughlin, Strategic MarketManagement EuropeanEdition, 0470059869, Copyright 2007 John Wiley &Sons Ltd
9
What will the
future demand?
Performance improvements?
Competitive technological
developments?
Financial capacity of industry?
You cant just ask customers what they
want and then try to give that to them. Bythe time you get it built, theyll want
something new.
- Steve Jobs
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2009, Cravens & Piercy
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Threat ofNew Entrants
CompetitiveRivalry
Power ofSuppliers
Power ofBuyers
Threat ofSubstitutes
Adapted from Porter (1980)
Determines industry
profitability/attractiveness
http://youtu.be/mYF2_FBCvXw
http://youtu.be/mYF2_FBCvXwhttp://youtu.be/mYF2_FBCvXw7/28/2019 Week02 Macro Environment
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The nature of competition in an industry isthe combined outcome of competitivepressures generated by: The move of rivals battling for market share
The entry of new rivals seeking market share
Efforts of firms outside the industry to convincebuyers to switch to their substitute products
The push by suppliers to charge more for their
input The push by buyers to pay less for products
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The five forces model defines the structureand competition in an industry in a way thatreveal:
What forces are driving changes within an
industry The relative strength of each fundamental force
Which fundamental force shape strategicconduct
The strategic moves that rivals are likely tomake
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University of
Gloucestershire BusinessSchool 14
Components of the marketing mix and marketing environment
Differential advantage /Competitive edge
People
Distribution
(place)Price
Product
Promotion
Legal
forces
Regulatory
forces
Societal /
Political
forces
Technological
forces
Economic and
competitive forces
Buyer/
Consumer
Product / Target
forcesGreen
Differential advantage/
Competitive edge
Brandpositioning selection
market
Source: Dibb et al
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Interest rates Inflation rates
Savings, investment, and credit
Unemployment
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Demographics Lifestyle
Attitudes
Consumerism Educational levels
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Population growth Population age mix
Ethnic markets
Educational groups Household patterns
Geographical shifts
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Reading TV Watching
Spending time withfamily
Going to movies Fishing
Computer activities Gardening
Renting movies
Walking
Exercise Listening to music
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Sources of raw materials Energy supply costs
Green issues
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Pace of change Government & industrial R&D expenditure
PLC
Opportunities for innovation
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Political stability Pressure groups
Trade union power
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Legislative structures
Anti-trust laws
Trade policies
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What major trends are discussed? Do you think any / all of this remains true as this
video was shot in November 2010
Does this information ring true for your country
as it was made in the US? What does it mean to us as marketers?
https://www.mckinseyquarterly.com/Video/Global_forces_shaping_the_future_of_business_and_society_2701
https://www.mckinseyquarterly.com/Video/Global_forces_shaping_the_future_of_business_and_society_2701https://www.mckinseyquarterly.com/Video/Global_forces_shaping_the_future_of_business_and_society_2701https://www.mckinseyquarterly.com/Video/Global_forces_shaping_the_future_of_business_and_society_2701https://www.mckinseyquarterly.com/Video/Global_forces_shaping_the_future_of_business_and_society_2701https://www.mckinseyquarterly.com/Video/Global_forces_shaping_the_future_of_business_and_society_2701https://www.mckinseyquarterly.com/Video/Global_forces_shaping_the_future_of_business_and_society_2701https://www.mckinseyquarterly.com/Video/Global_forces_shaping_the_future_of_business_and_society_2701https://www.mckinseyquarterly.com/Video/Global_forces_shaping_the_future_of_business_and_society_2701https://www.mckinseyquarterly.com/Video/Global_forces_shaping_the_future_of_business_and_society_27017/28/2019 Week02 Macro Environment
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A market exists only when there are buyerswith needs who have the ability to purchasegoods and services and products are availableto satisfy the needs.
Markets are comprised of groups of peoplewho have the ability and willingness to buy
something because they have a need (valuerequirement for it).
2009, Cravens & Piercy
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Price pressure caused by overcapacity and thelack of product differentiation
Buyer sophistication and knowledge
Substitute products or technologies
Saturation
No growth sources
Customer disinterest
25
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David Aaker, DamienMcLoughlin, Strategic MarketManagement EuropeanEdition, 0470059869, Copyright 2007 John Wiley &
Sons Ltd26
Competitive Risk
OvercrowdingSuperior competitive entry
Market Changes
New technology
Disappointing growth
Price instability
Firm Limitations
Resource constraintsDistribution unavailable
Figure 5.5
Risks ofHigh-Growth
Market
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Strategic Groups
Pursue similar competitive strategies
Have similar characteristics Have similar assets and competencies
David Aaker, DamienMcLoughlin, Strategic MarketManagement EuropeanEdition, 0470059869, Copyright 2007 John Wiley &
Sons Ltd28
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Potential Competitors Market expansion
Product expansion
Backward integration
Forward integration
The export assets or competencies
Retaliatory or defensive strategies
29
d d h
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30
Understanding theCompetitors
Objectives and
Commitment
Image and
PositioningSize, Growth
& Profitability
Current and
Past StrategiesStrengths and
Weaknesses
Cost Structure
Exit Barrriers Organisation
and Culture
Competitor
Actions
Figure 4.3
Figure 4.3
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Strategic analysis must take place on many levels
to capture the multitude of interactive dynamicseffecting a company.
Numerous tools and models are available toassist in the data collection and analysis process.
Ultimately, strategic marketing managers mustdecide a strategic best fit, between externalopportunities and internal strengths whileworking around external threats and internalweaknesses.
Every plan must be continually monitored andadapted as the environment changes.
University ofGloucestershire Business