sunandaC

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It consists of
a) SWOT Analysis,
b) Environment scanning, and
c) Competitive analysis.

a. SWOT analysis consists of identifying internal strengths (S) and weaknesses (W)
and also examining external opportunities (O) and threats (T)


b. Environmental Scanning: collection and interpretation of information about forces, events and relationships in the external environment that may affect the future of the organization or the marketing plan implementation.
Examination of macro environmental forces
• Social
• Demographic
• Economic
• Technological
• Political / Legal
• Competitive

Market opportunities are areas where there are favorable demand trends, where the company believes customer needs and opportunities are not being satisfied, and where it can compete effectively.


c. Competitive analysis: An important aspect of marketing strategy development is the search for a competitive advantage; something special a firm does or has that gives it an edge over competitors.

Ways to achieve a competitive advantage include having quality products that command a premium price, providing superior customer service, having the lowest production costs and lower prices, or dominating channels of distribution.

Competitive advantage can also be achieved through advertising that creates and maintains product differentiation and brand equity.

Example: Fevicol, Maggie tomato chilly sauce, Nirma etc. Avis-We are number two-We try harder.
 
It consists of
a) SWOT Analysis,
b) Environment scanning, and
c) Competitive analysis.

a. SWOT analysis consists of identifying internal strengths (S) and weaknesses (W)
and also examining external opportunities (O) and threats (T)


b. Environmental Scanning: collection and interpretation of information about forces, events and relationships in the external environment that may affect the future of the organization or the marketing plan implementation.
Examination of macro environmental forces
• Social
• Demographic
• Economic
• Technological
• Political / Legal
• Competitive

Market opportunities are areas where there are favorable demand trends, where the company believes customer needs and opportunities are not being satisfied, and where it can compete effectively.


c. Competitive analysis: An important aspect of marketing strategy development is the search for a competitive advantage; something special a firm does or has that gives it an edge over competitors.

Ways to achieve a competitive advantage include having quality products that command a premium price, providing superior customer service, having the lowest production costs and lower prices, or dominating channels of distribution.

Competitive advantage can also be achieved through advertising that creates and maintains product differentiation and brand equity.

Example: Fevicol, Maggie tomato chilly sauce, Nirma etc. Avis-We are number two-We try harder.

Hey friend, its nice to see that you are providing such a nice information on Marketing problem. Well, i have also got a document and willing to upload here. So please download my presentation and check it, i hope you and other people would like it.
 

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