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5.7 The Marketing Process - Coggle Diagram

- - - - Internal Strengths
        (Marketing Assets)
        
        Operational and Managerial Resources
        
        Strong Marketing Factors
      - Internal Waeknesses
        
        Products and activities placing a disadvantage for the firm in front of competitors
      - External Opportunities
        
        Awareness and scanning of the market environment forces and evolving trends leading to strategic windows of opportunities
      - External Threats
        
        Awareness and scanning of the market environment forces and evolving trends discovering a gap or a threat
    - - Political Forces
        
        Uncontrollable
        
        Firms seek to influence political events by donations and contributions
      - Economic Forces
        
        Buying power
        
        Willingness to spend
        
        Spending patterns
        
        Comprehensive
        
        Product-specific
        
        Business Cycle
        
        Prosperity, recession, depression, and recovery
      - Social Forces
        
        Structure and dynamics of individuals and groups
        
        Green movement concerned about pollution, waste disposal and the greenhouse effects
        
        Consumer movement protecting consumers rights
      - Technological Forces
        
        Application of knowledge and tools to solve problems and perform tasks efficiently
      - Legal Forces
        
        Procompetitive legislations are enacted to prevent monopolies to ensure free and fair competition
        
        Consumer protection legislations
      - Environmental Forces
  - - - Alignment of objectives with other business functions and corporate goals
    - - Dealing with supply issues and aspects
    - - Resellers
      - Distribution companies
      - Advertising Agenmcies
      - Financial facilitators
    - - The center of the marketing concept
      - Market Segmentation analysis
      - Brand positioning
      - Customer value proposition
    - - To be differentiated from rivals and competitors
      - Differential Advantage
        
        A developed marketing mix that matches or exceed the expectations of a target market and better than competitors' mixes
        
        Creating value for customers and sustaining competitiveness
      - Porter's Framework to review market conditions
        (Five competitive forces)
        
        Rivalry among existing like-for-like players
        
        The threat of new entrants
        
        The threat of substitute products or services as a solution to customers' problems or needs
        
        The bargaining power of buyers
        
        The bargaining power of suppliers
      - Competitive Set
        
        All competing firms and brands in a target market
      - Analyzing Competitors
        
        Identify the competitors
        
        Determine their objectives
        
        Identify their strategies
        
        Assess the strengths and weaknesses
        
        Select who to avoid and attack
      - Competitive Position Performa
        
        A tool to scope a competitive set
        P.64
      - Competitive Advantage
        P.57
        
        Cost Leadership
        
        Low cost base
        
        Tight cost control
        
        Economies of scale and experience
        
        Differentiation
        
        Creative and innovative product
        
        novel distribution channel
        
        pricing and customer service policies
        
        Focus
        
        Target market or group
  - - - Environmental Analysis
        
        Assessing and interpreting gathered information through scanning
        
        Individual Managers or small groups allocated to each market force
        
        Or the task is handed to an external consultant
        
        Each market force is discussed cross-functionally in brain storming workshops separately
- - - - Identify customer needs
      - Identify customer expectations
      - Identify customer perceptions
      - Identify customer decision-making and buying behavior
- - - - Establishing or adjusting performance standards
        
        Revenue Growth
        
        ROI
        
        EBITDA
        
        Product Profitability
        
        Customer Profitability
        
        Return nn sales
        
        Customer Satisfaction
        
        Delivery Performance
        
        Market Share
      - Assessing actual performance against standards
      - Take corrective necessary action when required to reduce the difference between actual and desired performance
    - - Self-control
      - Social Control
      - Cultural Control via firm value system