marketing week 4:SWOT

marketing strategy step 1

defining the company mission

marketing strategy step 2

setting company objectives and goals

marketing stratgey step 3

designing the business portfolio

marketing strategy step 4

planning marketing and other functional stratgies

mission statement is

a statement of the organizations purpose and what it wants to accomplish in the larger environment

SWOT analysis is part of which step in the marketing strategy

Step 2 : setting company objectives and goals

in SWOT analysis: positive + internal includes…….which is

strengths- internal capabilities that may help a company reach its objects

definition of strengths is

internal capabilities that may help a company reach its objects

list the strengths ( 5 )

• abundant financial resources

• high brand equity

• lower production costs

• good management

• efficient distribution chain

in SWOT analysis: negative + internal is….

say definition

weaknesses- internal limitations that may interfere with a companys ability to achieve its objectives

List the weaknesses (4)

• fewer resources

• narrow product line

• lack of innovation

• poor market share

in SWOT analysis: positive + external is..

which is

opportunities - external factors that the company may be able to exploit to its advantage

opportunities are (4)

• rapid market growth

• complacent competitors

• government deregulation

• new uses for product

threats are (5)

• new competitors

• substitute products

• end of product life cycle

• changing customer needs

• economic downturn

in SWOT analysis: negative + external is..

say defintion

Threats- current and emerging external factors that may challenge the company’s performance

S-O is to

use strengths to maximize the opportunities identified

W-O is to

__weakness by _opportunities given

minimize weaknesses using the opportunities identified

S-T is to

_strengths to _Threats

use stregths to minimize the threats identified

W-T is to

_weakness to _threats

minimize weakness to avoid the threats identified

In Step 3 of the Marketing Strategy: designing the business portfolio it includes

• business portfolio

• strategic business unit

business portfolio is

the collection of business and products that make up the company

strategic business unit is (list 5)

• company division

• product line

• brand

• single product, etc

SWOT analysis is a

holistic view of company within the broader environment

BCG matrix is

analyzing current business portfolio