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Reading 2: the marketing environment (3 macro (environment, political,…
Reading 2: the marketing environment
3 macro
environment
political
economic
legal
technological
ethical
social
2 micro
customers
consumer market (personal consumption)
business market (input process output)
reseller market (resale for profit)
government market (govt client for delivery of public services)
international market - all of above but int'l
marketing intermediaries
physical distributors (haulage)
agents/dealers/brokers
consultants - advertising, media, marketing research
often applied status of partner due to reliance upon intermediaries to deliver to clients (Kotler and Armstrong, 2016)
supplies (raw materials)
competitors
publics
marketing environment = micro + macro
4 competitive advantage
strategies for achieving competitive advantage
Michael Porter (2014)
cost leadership (lowest cost)
Differentiation (the offer being more attractive to targets)
focus (niche cost or niche differentiation)
possible to combine 2, but not 3
5 competitive positions & differential advantage
Porter's 5 forces (Porter 2008)
bargaining power of clients
threat of substitutes
bargaining power of suppliers
threat of new entrants
Industry rivalry
5 forces can dampen orgs prospects of profit making
competitors ID and analysis (Dibb eet al., 2016)
analyse competitors objectives, strategies, SWOTs, likely reactions to own orgs strategies and marketing.
decide whether to compete, ignore, avoid
differential advantage = brand or product or service attribute or marketing mix that is desired by target and provided by single supplier - unique edge over rivals in satisfying client needs (Dibb et al., 2016, p. 60)
see p27 for 11 step plan
6 strategic objectives & strategic focus
Ansoff's growth matrix (Ansoff, 1987, p. 109)
strategies for orgs portfolio to achieve growth
market & product on basis of present or new: market penetration, market development, product development, diversification