COMM296 Marketing Lecture Notes 2024-09-06 PDF

2024-09-06 COMM296.101 1  Situation Situation AnalysisAnalysis 1 Part I COMM296 Marketing Professor DJ Miller  Agenda Value-based marketing Marketing planning steps Strategy for s...

2024-09-06 COMM296.101 1  Situation Situation AnalysisAnalysis 1 Part I COMM296 Marketing Professor DJ Miller  Agenda Value-based marketing Marketing planning steps Strategy for sustainable competitive advantage SWOT analysis 2024-09-06 COMM296.101 3 Value-Based Marketing Advocate 1. Maximize value 2. Focus on the long-term Loyal 3. Think in terms of relationships Supporter (vs. transactions) 4. Beyond just consumers Regular 5. Evolve over time Purchaser New Customer 2024-09-06 COMM296.101 4  Do you own a S’well water bottle? https://www.youtube.com/watch?v=Z7fLElUEPx0 2024-09-06 What makes S’well successful? COMM420.DD2 5  Satisfies a need Offers value Product Price Place/Distribution Promotion 2024-09-06 COMM420.DD2 6  Marketing Process: 5 Steps to a Marketing Plan Step 1: Step 3: Step 5: Business Develop Implement Planning Step 2: Strategy Step 4: & Control Situation Marketing Analysis Mix Note: Based on NetMBA Marketing Process with additional step of “Business Planning” Step 1: Business planning Business plans start with a mission or vision statement Marketing plans are a subset of business plans 2024-09-06 COMM296.101 8  Step 1: Business Planning Unilever: Mission Statement “To provide everyday products to everyone, everywhere” Product Categories: Personal care Home care Food 2024-09-06 COMM296.101 9  Step 1: Business Plannng “to be the world's premier consumer products company focused on convenient foods and beverages.” “... our mission is to provide consumers around the world with delicious, affordable, convenient and complementary foods and beverages from wholesome breakfasts to healthy and fun daytime snacks and beverages to evening treats.” 2024-09-06 COMM296.101 10  Marketing Process: 5 Steps to a Marketing Plan Step 1: Step 3: Step 5: Business Develop Implement Planning Step 2: Strategy Step 4: & Control Situation Marketing Analysis Mix Note: Based on NetMBA Marketing Process with additional step of “Business Planning”  Step 2: Situation analysis Understand the company and its wider environment 2024-09-06 COMM296.101 12  Step 2: Situation Analysis Situation Analysis Internal environment (company) SWOT External environment 5C Framework …and P.E.S.T. 2024-09-06 COMM296.101 13  Marketing Process: 5 Steps to a Marketing Plan Step 1: Step 3: Step 5: Business Develop Implement Planning Step 2: Strategy Step 4: & Control Situation Marketing Analysis Mix Note: Based on NetMBA Marketing Process with additional step of “Business Planning” Step 3: Develop Strategy Target Market (through STP) STP: Segmentation Targeting Positioning 2024-09-06 COMM296.101 15  Step 3: Develop Strategy Consider Hertz 2024-09-06 COMM296.101 16  Marketing Process: 5 Steps to a Marketing Plan Step 1: Step 3: Step 5: Business Develop Implement Planning Step 2: Strategy Step 4: & Control Situation Marketing Analysis Mix Note: Based on NetMBA Marketing Process with additional step of “Business Planning” Step 4: Marketing Promotion Product Mix Target Market (STP) Price Place (Distribution) 2024-09-06 COMM296.101 18 Sustainable competitive advantage differentiation 2024-09-06 COMM296.101 19 Sustainable competitive Consider S’well advantage differentiation 2024-09-06 COMM296.101 20  Marketing Process: 5 Steps to a Marketing Plan Step 1: Step 3: Step 5: Business Develop Implement Planning Step 2: Strategy Step 4: & Control Situation Marketing Analysis Mix Note: Based on NetMBA Marketing Process with additional step of “Business Planning” Step 5: Implement and control Measures must be included in the plan at the outset What gets measured gets done Continue to monitor the environment 2024-09-06 COMM296.101 22  Example: 3-minute history of Levi’s Note how Levi’s has evolved and aims to provide value to its consumers & society http://www.fastcompany.com/3038804/the-history-of-levis-advertising-in-three-minutes 2024-09-06 COMM296.101 23  COMM296 SWOT 2024-09-06 COMM296.101 24  Step 2: Situation SWOT Analysis Analysis Helpful Harmful S W Internal Strengths Weaknesses O T External Opportunities Threats 2024-09-06 COMM296.101 25 2024-09-06 COMM296.101 26 2024-09-06 COMM296.101 27 2024-09-06 COMM296.101 28  Opportunity/Threat Strategy Strategies Opportunities Decrease price or increase Raw materials become less profit margin expensive Expand outside of North Increasing demand in America overseas markets Strategies Threats Increase price or find new Raw materials become more supplier expensive Tailor communications to Competitor introduces distinguish our product similar product 2024-09-06 COMM296.101 29  SWOT Example Strengths: Weaknesses: One of best brand recognition in the world high training costs widespread global operations high employee turnover consistently found in excellent locations not much variation in seasonal product respects cultural diversity in foods & menus offerings Efficient restaurant operations and systems quality concerns due to franchised operations increased focus on healthy menu choices perceived as provider of unhealthy “burgers high market share among fast food and fries” restaurants failed to successfully introduce pizza which profitable limits their ability to compete in that segment Opportunities: Threats: Continued trend in healthy eating – organic Declining consumption of fast food in general foods, allergen free products increased awareness of eating balanced meals Growth of middle-class consumers around economic downturn – consumer frugality the world Competition - expanded product offerings increased internet penetration Potential for legal restrictions on size of pop Growth in consumption of coffee and that can be served specialty drinks 2024-09-06 COMM296.101 30 You have just completed a SWOT analysis for McDonald’s. Which of the following would be a valid Opportunity within that SWOT? A. Developing a new McCafe latte flavour B. Stricter government regulations for menu labelling C. Opening new stores in rural BC communities D. Social trend toward families having less free time 2024-09-06 COMM296.101 31 Next: In-class Activity: SWOT for Sauder. But first… 2024-09-06 COMM296.101 32 2024-09-06 COMM296.101 33  Reminders for Next Class Topic: Situation Analysis 2 – Pre-preparation for next class Readings Clarification Prep-quiz Info sheet about Marketing Behavioural Labs for bonus grades 34 Questions? 2024-09-06 COMM296.101 36