Read carefully Perform Analysis Come up with recommendations Analysis: Thought Process Questions Break up Details matter! ¢ What problem are we trying to solve? ¢ What are the main problems? ¢ Break up the whole story into parts ¢ Analyze whats important ¢ Do detailed examination ¢ Determine essential features 4 The Process of Building a Marketing Plan Step 1: Situation Analysis Step 2: Step 3: Step 4: SWOT Analysis Problem Identification Solutions Recommendation/ Evaluation Step 1: Situation Analysis ¢ Evaluation of an organizations current situation, opportunities, and problems. Ask Yourself: ¢ What is going on?
¢ Who is the company? ¢ What is the companys background? ¢ What industry are they part of? Step 1: Situation Analysis The Five Cs Customer Needs What needs do we seek to satisfy? Company Skills Competition Collaborators What special competence do we possess to meet those needs? Who competes with us in meeting those needs? Who should we enlist to help us and how do we motivate them? Context What cultural, technological and legal factors limit the possible? Applying the Marketing Mix to a Target Market ¢Is there current price competitive? ¢Are they distributing their product? ¢Any current problems with their product?
¢Are they running promotions to increase sales? ¢Are the promotions hurting sales? 8 Step 2: SWOT Analysis Internal Strengths Things that are good now, maintain them, build on them and use as leverage Weaknesses Things that are bad now, remedy, change or stop them. Opportunities Things that are good for the future, prioritize them, capture them, build on them and optimize Threats Things that are bad for the future, put in plans to manage them or counter them External 9 Step 3: Problem/Decision Statement Identification of the main problem, opportunity Ex: ¢ ¢ ¢ ¢ Does the company have declining sales? Are the promotions hurting sales?
Should the company fire employees? Is the company spending too much money on promotions 0r advertising? Step 4: Solutions/Recomendations What are you going to do about the problem? What are the alternative choices into solving the companys problem? Ex: If the problem is declining sales due to the current economic situation¦ Run promotions Offer benefit programs Offer rewards for purchase Strategic Market Planning Process Components of Case Analysis ¢ ¢ ¢ ¢ ¢ Background & Problem Identification Statement of Objective(s) Situation Analysis Description and Evaluation of Alternatives Conclusions/Recommendations 13 End.