Marketing Process and SWOT Analysis

Managing the Marketing Effort (The Marketing Process)

• The marketing process involves creating value for customers and satisfying their needs through ongoing interactions between customers and organizations.
• Key steps include situation analysis to identify opportunities, strategy formulation for a value proposition, tactical decisions, plan implementation, and results monitoring.

Marketing Management Functions

• The 4 marketing management functions are market analysis, planning, implementation, and control.
• Marketing effort involves four functions: analysis, planning, implementation, and control.

Marketing Analysis

• Marketing analysis involves a complete analysis of a company's situation by identifying environmental opportunities and threats, as well as analyzing internal strengths and weaknesses, to take advantage of opportunities.

SWOT Analysis

• SWOT analysis is a strategic planning technique used in preliminary decision-making stages to identify strengths, weaknesses, opportunities, and threats related to business competition or project planning.
• SWOT analysis helps minimize weaknesses while maximizing strengths, matching strengths with opportunities and addressing threats effectively.
• SWOT analysis identifies an organization's strengths, weaknesses, opportunities, and threats for strategic planning and decision-making.
• SWOT analysis is useful for community health, development, education, and personal growth beyond business and industry.
• A SWOT analysis reveals positive forces and potential problems, focusing on strengths, weaknesses, opportunities, and threats.
• Useful for exploring possibilities for new efforts, making informed decisions, determining areas for change, and adjusting plans.
• It is essential to consider both internal qualities and external perceptions when listing strengths and weaknesses, and to gather information through focus groups, surveys, and listening sessions.
• Developing a fuller awareness of the situation helps with both strategic planning and decision-making.

Utilizing SWOT effectively

• SWOT Analysis is used in the real world to help to identify issues to change and reaffirm your goals. It is all about having better understanding because it puts initiatives in a more effective plan for action.

Components of a SWOT Analysis

• Internal factors to consider include human, physical, and financial resources, activities, and past experiences.
• Forces and facts that a group does not control include:
  • Future trends in the field or culture
  • The local, national, or international economy
  • Funding sources
  • Demographics
  • The physical environment
  • Legislation
  • Local, national, or international events

Developing a SWOT Analysis

• SWOT analyses are often created during retreats or planning sessions to encourage collaborative and inclusive brainstorming.
• Conducting it involves designating a facilitator, recording ideas, introducing the SWOT method, dividing participants into smaller groups, and allowing brainstorming time.
• The group should reconvene to share results and organize ideas by priority, discussing and recording outcomes.
• Depending on time constraints set some concensus on the most important items in each category
• Actions include relating the analysis to the vision, translating the analysis into actionplans and strategies, plus preparing a summary to promote continued use.

Marketing Plan Defined

• A marketing plan provides guidelines for an organization's marketing programs and resource allocation and lays out the marketing strategy, detailing marketing efforts and their execution.
• Marketing plans are created for a year, living documents that should evolve with the bussiness and company.

Benefits of a Marketing Plan

• The marketing plan is an important plan of action that assists other employees, both old and new, see the overall picture of the process.
• Marketing plans also helps to break down the budget and resources that are needed to achieve the goals that will assist in the execution and desired result.
• They improve communication between marketers and vendors (designers, public relations teams, and freelancers).

Writing a marketing plan

• To write and create a marketing plan first conduct market research, then build your marketing strategy.
• A marketing plan is broken into two sections:
  • Current business situation
  • Marketing strategy moving forward
• It is important to understand the industry you're marketing for.

Industry Analysis Key Points

• Mission statement defines your business goals
• SWOT analysis allows you to look at your bussiness and company, and analyze the stregths and weaknesses for oppurtunites.
• Industry is a gauge on the annual growth, a look into the external drivers and any barriers to entry.
• Look at the market competitors
  • Who are the top top top companies in the industry and their content, and what can you do to be better?

Executive Summary(Marketing)

• The executive summary presents the report and its short-term recommendation for consideration.

Current Marketing Situation

• A current marketing position describes the target market. Some notable sections include a product reviews analysis to see what consumers like versus what they dislike. Next is an important analysis of the competition and sections on distribution.

Opportunities and Issues Analysis

• This section forces the marketing manager to analyze the future threats and opportunities the product may face
• Attractive markets for the marketing action in which a company would enjoy the competitive adnvatage.
• Also to anticipate important developments that can have an impact both positive and negative to the firm.
• With this threats and opportunities section, a manager can consider the obejctives and issues.

Marketing Strategies

• Marketing strategies include strategies, target markets, marketing mix and also marketing expendature.
• For marketing expenditures, strategies should be made for all marketing MIX components.
• These components also project revenues, costs and profits.
• At the last section of the marketing plan, it outlines which controls will be used for progress checks and corrective actions.

Action Programs

• Outlines what will be worked, when and whom will be spent doing it.

Projected Profit and Loss statement

• Budget section the plan shows the projected revenues, costs and profits or suplueses.

Controls

• This sections outlines the measure the monitor progress. and when a valuation happens, the next implemented result is actions that are recommended.

Key takeaways for SWOT and PEST Analysis

• SWOT is what can impact both your business and the outside world, you analyze.
• PEST is political, economics, social and tech factors what might influence the company
• This analysis can help with segmentation, understanding various areas.

Marketing Implementation

• Turns marketing plans into action and achieves marketing goals. Marketing implementation addresses the "who, where, when, and how".
• Depend on a action program that unites people , activites and structures.

Implementing Marketing Plan

• Set expectations, remember that marketing isn't quick, it takes months to see results and to build the team and resources you'll need.
• Building your team to help you to help you with this effort. This could both involve team members, emplyees, department or anyone hired or brought in to assist.

Communicating the plan

• Important to understand the organization and the set goals, and team to contribute and make changes.
• If not already, build a timeline with each individual task, breaking it up into more bite-sized actions.
  • This can be done using managment software or a similar method,
  • The team process to check is important to ensure that the team stays on top of things.
• It is important to set up a dash board to take measure of a tracker that is easy to update.
• Metrics can be different for any company but its important to tie your work into the overall bussiness objective.
• Monitor everything and check regularly.

Being willing to adapt

• Adaptions and the ability to improve can lead to more sales.

Communication

• Its good to communicate results with the team. They're working hard with you in this effort.

Marketing Control

• Marketing control measures marketing strategies by results, then after takes action to ensure the intended goals are reached. There are 4 steps
  • Goal Setting
  • Standards
  • Results
  • Alterations
• Marketing control is a core component that ensures a company to directs its marketing towards the objectives.
• Control involves observation and unacceptable management to a standard which is monitored.
  • To solve this standards, the management has to be able use the devices that can be controlled.

Marketing Control Scope

• Gathering information on marketing performance, and comparing acheivements planned with a predetermined standard. It gives feedback, regulates it, and redirects influence.

Steps taken

• To check performance and apply correct measure, and consists four statements, and estabilishes a clear marketing for the firms Second, to spot gaps for performance management, performance is measured often to spot any performance problem, Third, performance gap should be casually determined.
• Lastly, management must correct and close performance gap between the goals.
• There are marketing tools, such as a sales analysts, marketing expenses to sale ratio, financial analyst and corrective measures, and a market share analyst.
• Companies can carry out research for territorial marketing to ensure that their marketing can effectively be monitored.
• Efficiently, is the task which is essential for functions such as advertising and selling.

Strategic Control

• The company is marketing system, objectives, and strategies that have been uniquely adapted to its environment and systems, and that those two tools in connection can effectively show what was rated.

Importance of Marketing Control

• Monitoring performance of environmental changed that can help the company to its marketing efforts for the better.
• All deviations of performances are quickly solved with the marketing control, and faults at any wrong performance can be recognized effectively.
• Also helps with the failure to perform with the best results, and ensures that its more realistic, yet simplictic approach is a good prerequistite for a marketing management that comes by.
• Providing more details to help with the marketing feedback, such as helping them create a plan with this information
• Some aspects that an effective control system are
  • Is the control objective
  • Feedback
  • It shows be flexible (control)
  • It should have organization suitablity
  • Economical and simple to understand.
  • Suggest correctional system

How to deisgn the system

• Starting on what can predetermined the objectives, clear measures of performance What levels controls are active for at different, effect monitor to provide feedback
• Picking tools and techniques of control
  • Observing variances There must be another way to solve things

Key takeaways for performance

• There must be a way that shows the budgeted figures, achieved figures and the variance. And a sales volume

There are various steps to this point

• Financial Analysis
• Is with the expense to analyize The rate of rate is
• Profit = sales / new sales Also -Asset = net sales / total assets Return = total assets + new assets Financial Leveradge / total assets new asset / worth Returns = net profits.

Five Essential Determinants

• All integrated will connect to many corporate abilites for something like, innovation. there should be an idea to do so. And the essential determinants are a result
  • Product, setup or some defects?

There're two activites to make a difference in the quality for today.

• They need to be able to evaluate to interepret and come to a conculsive result. All this to be in a fast turnaround to perform and meet on virtual standards and engagements

In these sets of information, we can produce the score cards. Also can see our brand is doing.

• Accurate information is ascertained and that would a goal for your strategy! What's there to compete or how will we be unique from the company. Another thing, is the shareholder to show profits and value. And to see that, all the factors need to create one valuable service.

Marketing Audit

• a comprehensive, systematic, independent, and periodic examination of a company's or business unit's marketing environment, objectives, strategies and activities with a view to determining problem areas and opportunities and recommending a plan of action to improve the company's marketing performance”. There are several components that this can range from
  • mircorenment.
  • and task and how it plays

• There need to orgzanitions also
• All in sync, too.

• Macro-Environment: a. Demographic – The key element which can impact the company's goals b. Economic- This may show inflation c. Natural - Environmental laws d. Technological- the process with time

Operation Envioiroment the outside influences that affect us.

a. Markets: that the bussiness can and may offer B. Can see competitorts. C: Colloabortor.

The main and basic requirements for your organization

There also needs to have a clear comprehension for bussiness and their needs. What can be smart? Is your stragey and goals.