Module 2 - Conducting a Situational Analysis

What is a Situational Analysis?

Process of assessing the current situation facing the organisation, arriving at a set of assumptions about the future, and identifying key strategic issues that are likely to confront the organisation.

Components of a Situational Analysis

Internal:

• Marketing Audit

• Corp Appraisa

External:

• Customer Analysis

• Comp Analysis

• Climate Scan

What are the 4 components of a corp appraisal

1. Senior management

2. Corporate Culture

3. Corporate Stakeholders

4. Corporate resources

Name the first component of the BCG matrix

This is a part of a marketing audit.

Stars:

• High growth rate

• High market share

• Ex: Google search engine

Name the second component of the BCG matrix

This is a part of a marketing audit.

Question marks

• High growth rate

• low market share

• Invest to increase market share and profitability OR consider harvesting/divesting too much risk involved

Name the third component of the BCG matrix

This is a part of a marketing audit.

Cash cows

• Low growth rate

• high market share

• Focus on maximizing their profitability by reducing costs and increasing efficiencies.

Name the fourth component of the BCG matrix

This is a part of a marketing audit.

Dogs

• low growth rate

• low market share

• Harvesting/divesting to free up resources and focus on more profitable products.

Name 1 of 3 ways to categorise competitors

1. Direct competitors - offer similar product/service

Name 2 of 3 ways to categorise competitors

2. Substitutes - offer a close substitute or alternative

Name 3 of 3 ways to categorise competitors

3. Category competitors - offers different product or service that adresses the same universal need,

What are the 4 different ways to source competitive info

1. What competitors say about themselves (owned media)

2. What others say about them (earned)

3. Primary data (collecting new data through surveys)

4. Third party tools (social media listening tools, price comparison websites, ect.)