Marketing Principles Mark 101 PDF

Marketing Principles Mark 101 Dr. Rumaila Abbas Case: Worksheets 10 mins BCG Matrix Decisions by Strategic Business Units (SBU)or Product Categories How can we apply this to Apple? Strategy...

Marketing Principles Mark 101 Dr. Rumaila Abbas Case: Worksheets 10 mins BCG Matrix Decisions by Strategic Business Units (SBU)or Product Categories How can we apply this to Apple? Strategy punk  S.W.O.T Analysis ▪ A useful approach for gaining an understanding of the situation an organization is facing at a particular time ▪ The combined summary of the internal analysis and the environmental analysis ▪ An organization identifies its internal strengths (S) and weaknesses (W) + external opportunities (O) and threats (T)  S.W.O.T Analysis Internal and Strengths Weaknesses Controllable External and Opportunities Threats Uncontrollable  https://www.youtube.com/watch?v=WYP9AGtLvRg  S.W.O.T Analysis – Internal Variables Strengths ▪ What are our competitive advantages? ▪ What distinct competencies do we have? Weaknesses ▪ In what areas are we vulnerable? ▪ What are our resource limitations?  S.W.O.T Analysis – External Variables Opportunities ▪ What might we do? ▪ What do we do best? ▪ What must we do? Threats ▪ Are our assumptions correct? ▪ Sensitivity analysis ▪ Are associated risks acceptable?  Product Economic Social Finest quality Sustainable financial Make the world a better growth place  Step One: SWOT Strategic Marketing Process  Step Two Market and Product Focus and Goal Setting 1 2 MARKET POINTS S E G M E N TAT I O N OF DIFFERENCE  Step Three: Marketing Process Strategic Marketing Process Make fantastic, sustainable, world-changing ice cream MISSION Embrace “linked prosperity” which encourages the success of all: employees, suppliers, customers, and neighbors.  Linked Prosperity B-Corp Certified: Be one of the first to use the power of business to solve social and environmental problems by pledging to abide by a rigorous set of principles & standards for social and environmental performance, accountability, and transparency. Free Cone Day: Once a year, give away free ice cream to more than a million fans around the world Fair Trade: Farmers get fair prices for agreeing to use sustainable farming practices, fair working standards, and invest in local communities  Strategies PartnerShop: Independently owned & operated by community- based non-profits whose employees can build better lives by overcoming employment obstacles. Building Strong Brands Seller’s Market Production: Focus on Company Buyer’s Market Examples? Marketing: Focus on Customer and Competition.  Customer focused marketing Look at what the customer wants, and deliver a product that meets the needs of that customer. In a customer-based market, try to create product to meet that customer's need. What do Customers Want?  Coming up ▪ Simulation Decisions Due Q1 and Q2 ▪ Midterm in class – Week 7 ▪ Industry mentor session – 19thOct Saturday (attendance graded