LEM-GEN Year 2 Marketing Project Lab PDF

LEM-GEN year 2 Marketing Project Lab LAB SESSION 1 1 Content External Analysis Internal Analysis SWOT Confrontation matrix Strategic Options Prioritizing 2 External Analysis Purpose is to find favorable and unfavorable developments in a changing environment that offer bus...

LEM-GEN year 2 Marketing Project Lab LAB SESSION 1 1 Content External Analysis Internal Analysis SWOT Confrontation matrix Strategic Options Prioritizing 2 External Analysis Purpose is to find favorable and unfavorable developments in a changing environment that offer business opportunities and threats. Fields of interest Consumers – changing needs with existing consumers, new segments not yet served Industry – trends and developments in the industry, suppliers technology etc Competition – Levels of competition, substitution Distribution chain – suppliers, distribution channels MACRO level trends and developments: DESTEP 3 Levels of competition Verhage 4 DESTEP Demographic developments Economic developments Social-Cultural developments Technological developments Ecological developments Political-legal developments 5 Internal Analysis Mission and Vision Current marketing mix: Product, Pricing, Place, Promotion and People 7S model McKinsey (Organizational effectiveness) 6 7S framework Strategy (clear plan?) Structure (organization) Systems (routines and organization of work) Skills (of the employees) Staff (who is working there, retention, policies) Style (leadership style and culture) Shared Values 7 SWOT Internal : Strengths - relatively strong compared to competition Company is very innovative Weakness Company lacks technical skills External: Opportunity – development from outside that offers a business opportunity Rise in demand for small scale business events Threat New strong competitors entering the market 8 Confrontation Matrix STRENGHTS WEAKNESSES sum S1 S2 S3 W1 W2 W3 OPPORTUNI O1 TIES O2 O3 T1 THREATS T2 T3 9 Strategic Options Find combinations of either opportunities or threats and the relevant strengths and weaknesses. The option might be to capitalize on your strengths while improving on your weaknesses STRENGHTS WEAKNESSES sum S1 S2 S3 W1 W2 W3 OPPORTUNI O1 1 0 2 -2 -1 -2 -2 TIES O2 2 0 3 -1 0 -1 3 O3 0 T1 1 2 0 0 -1 -1 1 THREATS T2 0 T3 0 10 Prioritizing Strategic Options SFA MATRIX Weight Option 0 Option 1 Option 2 Option 3 SCOPE Suitability Does it solve the problem? Capitalize on opportunities and strengts? Minimalize threats and weaknesses? Feasibility financial organizational economic technological social-cultural legal ethical Acceptability Profitable financial risk acceptable for stakeholders Score 11 Assignment for this week This week you will work on the analysis phase. This phase goes through following stages: 1.External analysis 2.Internal analysis 3.SWOT analysis 4.Confrontation matrix and strategic options 5.feasibility analysis using the SFA-matrix 12 13