Forelesning 2(1)

Page 1: Introduction

• Course: NTNU Kunnskap for en bedre verden

• Course Code: MRK1001 Grunnkurs i markedsforing

• Lecture Date: 26.08

Page 2: Marketing Environments and Conditions

• Focus of Lecture: Marketing environments and conditions

• Note: Topics may seem theoretically simple, but are often complex and labor-intensive in practice.

Page 3: Marketing Management

• Purpose: Analyze the internal strengths and weaknesses as well as external threats and opportunities of the enterprise.

• Method of Analysis: Typically summarized in a SWOT analysis.

Page 4: Market Systems

• Three Levels to Consider:

  • Macrosystem: External working conditions

  • Publicity System: Interest groups

  • Microsystem: Industry conditions

• Textbook Focus: Primarily discusses marketing tasks associated with the microsystem.

Page 5: Micro and Macro Factors

• Micro Environment:

  • Customers

  • Competitors

  • Distributors

  • Suppliers

• Macro Environment:

  • Economic Factors

  • Demographic Factors

  • Legal/Legislation

  • Political Factors

  • Technology

  • Climate/Environment

Page 6: External Working Conditions (Macrofactors)

• PESTEL Analysis:

  • Political Factors

  • Economic Factors

  • Social/Demographic Factors

  • Technological Factors

  • Environmental Factors

  • Legislative Factors

• Characteristics: Macrofactors are beyond business control but can impact the company.

• Strategies: Neutralize negative outcomes (threats) or adapt to future needs (opportunities).

Page 9: Discussion on PESTEL

• PESTEL Is Industry Specific: Factors must be relevant to the industry rather than individual businesses.

• Key Factors: Focus on significant factors likely to change, emphasizing their degree of influence and likelihood of occurrence.

Page 10: Publicity System

• Internal Groups: Corporate stakeholders and external public actors, including mass media and financing sources.

• Stakeholders: Groups that influence or have an interest in the company directly or indirectly.

Page 14: Microsystem

• Components:

  • Competitors

  • Intermediates

  • Customer Groups

  • Suppliers

• Value Chain Example: Relevant actors in the salmon industry from production to distribution.

Page 18: Competition and Intensity

• Importance of Competition Analysis: Understanding competitors' strengths and weaknesses is crucial for strategic positioning.

• Factors Affecting Competitive Intensity: Highlighted through Porters five forces.

Page 19: Porter's Five Forces

• Focus Areas:

  • Degree of rivalry within the industry

  • Supplier power

  • Buyer power

  • Threat of new entrants

  • Threat of substitutes

Page 20: Porter's Five Forces Analysis Model

• Visual representation includes:

  • Competition/rivalry

  • Buyer and supplier power

  • Threats from new entrants and substitutes.

Page 23: VRIO Analysis

• Purpose: Assessing sustainable competitive advantages based on resources within a firm.

• Requirements for Competitive Advantages:

  1. Resources must be sought after in the market.

  2. Resources need to be unique.

  3. Hard to imitate.

  4. Organized for creating value and profitability.

Page 27: Discussion on VRIO

• Specific to the Firm: A resource must contribute to a lasting competitive advantage.

Page 28: P/M Matrix

• Use Case: As a basis for analysis and strategy selection, considerations around potential strategy realization arise.

Page 29: Ansoff's Expansion Matrix

• Focus Areas:

  • Current products in current markets (Market Penetration)

  • Product development in existing markets

  • Market development for existing products

  • Diversification of products in new markets

Page 30: Summary of Analyses

• Recap: Reflect on the analyses performed and summarize findings using a SWOT format: internal and external strengths and weaknesses.

Page 31: Legal Framework Conditions (Advertising)

• Marketing Practices: Must not violate principles of good marketing practices.

• Regulatory Focus: Advertisements must be ethical, and avoid gender bias.

Page 32: Misleading Practices

• Legal Definitions: Misleading conduct includes incorrect information or omission of crucial details affecting consumer decisions.

Page 33: Legal Regulations on Advertising

• Note: Advertisements framed as editorial content are illegal unless clearly marked as such.

Page 34: Sustainability Requirements

• Retail and Manufacturing: Clothing producers must document sustainability.

Page 35: Competitive Factors Analysis

• Elements: Product characteristics, pricing, sales efforts, distribution, service, and credit terms.

Page 36: Reflections on Market Needs

• Customer Preferences: Understanding what customers seek in products, brands, and services.

Page 37: Next Steps

• Preparation: Study Chapter 3 for next class.