MKT 100 Chapter Notes - Chapter 2: Boston Consulting Group, Strategic Business Unit, Swot Analysis
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The Marketing Plan
1. Business Mission and Objectives
– a broad description of a rms
objectives and scope of activities it plans to undertake, as
well as answering the question as to what business we are
in and what do we need to do to accomplish our goals.
2. Situation Analysis
Using a SWOT analysis to assess both the internal
environmental strengths and weaknesses as well
was the external environmental opportunities and
Assess the opportunities and threats using CDSTEP
forces (cultural, demographic, social, technological,
economic and political) or PEST (political,
environmental, sociological, technological)
3. Opportunities [segmentation, targeting, positioning]
The process of dividing the market into distinct
groups of customers where each individual group has
similar needs, wants or characteristics. A market
segment is a group of consumers who respond
similarly to a rm’s marketing e+orts.
The process of evaluating each segments
attractiveness and deciding which one to pursue.
The process of dening the marketing mix variables
so that customers have a clear idea as to what the
product does or represents in comparison to
4. Implement marketing mix [4 P’s]
Product and Value creation – the key to a
successful marketing program is the creation of
value. Firms attempt to create products and services
that customers deem valuable enough to buy.
Price and value for money – marketers should
base price on the value that the customer perceives.
Price too high = not generate volume. Price too low
= lower than necessary margins and prots.
Place and value delivery – marketers must be able
to make the product readily accessible where the
customer wants it.
Promotion and Value communication –
marketers communicate value through media.
5. Evaluate performance by using marketing metrics
Used to explain why things happen and make projections.
A metric is a measuring system that quanties a trend,
dynamic or characteristic.
1. Portfolio Analysis
Management evaluates the rms various products and services
and allocates resources according to which products are expected
to be the most protable in the future.
Performed at the SBU [strategic business unit]
– a division of the company that can be managed
somewhat independently from other divisions since it
markets a specic set of products to a dened target
Product line level
– a group of products that
consumers may use together or perceive as similar in
Can be used to analyze brands and individual
Boston Consulting Group Portfolio Analysis
High Relative Market Share Low
Market Growth Rate