BA7702: Marketing Concepts and Decisions
February-March 2002
INTERNAL MARKETING AUDIT CHECKLIST
Operating Results by product, customer, geographic region Sales Market share Profit margins Costs Strategic Issues Analysis Marketing objectives Market segmentation Competitive advantage Core competences Positioning Portfolio analysis Marketing Mix Effectiveness Product Price Promotion Distribution Marketing Structures Marketing organization Marketing training Intra- and interdepartmental communication Marketing Systems Marketing information systems Marketing planning system Marketing control system
Middle East Technical University Department of Business Administration
Certificate Program in Advanced Management Studies Dr. al
BA7702: Marketing Concepts and Decisions
February-March 2002
EXTERNAL MARKETING AUDIT CHECKLIST
Macroenvironment Economic: inflation, interest rates, unemployment Social/cultural: age distribution, lifestyle changes, value, attitudes Technological: new product and process technologies, materials Political/legal: monopoly control, new laws, regulations Ecological: conservation, pollution, energy The Market Market size, growth rates, trends and developments Customers: who are they, their choice criteria, how, when, where do they buy, how do they rate us vis--vis competition on product, promotion, price, distribution Market segmentation: how do customers group, what benefits do each group seek Distribution: power changes, channel attractiveness, growth potentials, physical distribution methods, decision-makers and influencers Competition Who are the major competitors: actual and potential What are their objectives and strategies What are their strengths (distinctive competences) and weaknesses (vulnerability analysis) Market shares and size of competitors Profitability analysis Entry barriers
Middle East Technical University Department of Business Administration
Certificate Program in Advanced Management Studies Dr. al
BA7702: Marketing Concepts and Decisions
February-March 2002
KEY QUESTIONS AND THE PROCESS OF MARKETING PLANNING
Key Questions Where are we now and how did we get there?
Stages in Marketing Planning Business mission Marketing audit SWOT analysis Marketing audit SWOT analysis Strategic option analysis Marketing objectives Core strategy Marketing mix decisions Organization Implementation Control
Where are we heading? Where would we like to be? How do we get there?
Are we on course?
Middle East Technical University Department of Business Administration
Certificate Program in Advanced Management Studies Dr. al
BA7702: Marketing Concepts and Decisions
February-March 2002
CREATING A DIFFERENTIAL ADVANTAGE USING THE MARKETING MIX
Marketing Mix
Product
Differential Advantage
Performance Durability Reliability Style Upgradability Technical assistance Installation
Value to the Customer
Lower costs; higher revenue; safety; pleasure; status Longer life; lower costs Lower maintenance and production costs; higher revenue; fewer problems Good looks; status Lower costs; prestige Better quality products; closer supplier-buyer relationships Fewer problems Convenience; lower costs Lower costs; fewer problems More effective selling/marketing; closer buyer-seller relationships Peace of mind Less work; lower costs Superior brand personality Direct added value Lower costs Superior problem solving Sales assistance; higher sales Lower costs; fewer problems Lower risk of purchase Lower risk of purchase Fewer problems; lower costs Lower cost of purchase Lower costs; better cash flow Lower costs; better cash flow Price-quality match
Distribution
Location Quick/reliable delivery Distributor support Delivery guarantees Computerized reordering
Promotion
Creative/more advertising Creative/more sales promotion Co-operative promotions Well-trained salesforce Dual selling Fast, accurate quotes Free demonstrations Free or low cost trial Free complaint handling Lower price Credit facilities Low interest loans Higher price
Price
Middle East Technical University Department of Business Administration
Certificate Program in Advanced Management Studies Dr. al
