2.1 Robert J. Dolan (2014), Marketing Reading: Framework for Marketing Strategy Formation.

Question 1

• Customer Analysis what do you do

Answer 1

hat do the customers want and how do they come aware and informed of the product

Question 2

Six major roles by Thomas Bonoman in customer analysis

Answer 2

o Initiator: recognizes the value of solving a particular issue so they stimulate the searc for a product
o Gatekeeper: act as problem or product experts and control information and access to other members of the DMU
o Decider: make the purchasing choice
o Influencer: they do not make the final decision, but have input in it
o Purchaser: consummate the transaction
o User: consume the product

Question 3

• Company analysis

Answer 3

Does the product and approach fit the company (understanding of the finances, R&D and manufacturing capability and other assets of the firm. Also try to understand what are the strengths and weaknesses of the firm.

Question 4

Collaborator analysis

Answer 4

Involves analysing the external assets that may be accessed to complement those of the company, thus allowing the organization to implement an effective marketing program. Like the money needed for R&D (e.g. Kickstarter), distribution system and the manufacturing scale.

Question 5

• Competitive analysis:

Answer 5

Winning the customer acquisition game requires creating more value (benefits minus costs) for customers than any other options known to them.

Question 6

• Context analysis

Answer 6

The context shapes what is possible, and this is always changing. A context such as culture can shift and bring surprises unless it is carefully monitored, many gains are made by anticipating cultural trends.

Question 7

Marketing strategy is value proposition (STP), ), which consists of: 3

Answer 7

1. Segmenting: Identifying different needs and groups in the markets
2. Targeting: Which segments to target in order to reach the firm’s overall objectives  Niche markets vs. mass markets
3. Positioning: The position you want to claim in people’s minds

Question 8

Value proposition = …. + ….

Answer 8

= Targeting + positioning

Question 9

Segmenting/targeting
- Process of

Answer 9

dividing the market into groups of consumers with a common need

Question 10

Segments must be (5)

Answer 10

• Identifiable, with measurable characteristics
• Substantial, large enough to serve profitably
• Differentiable, similar needs that differ from other groups
• Stable, be around to approach them before the need ends
• Actionable - internally clear how to find them and what to do

Question 11

Positioning
Elements of positioning statement
(3)

Answer 11

• Frame of reference – how you define your market
  o Product category or customer need
• Point of difference – what sets you apart from the players in that market
  o Unique and relevant
• Reason to believe – what is proof of pudding

Question 12

Main criteria for value proposition:

Answer 12

• Relevance (for customer)
• Differentiation (from existing alternatives)