Chapter 2 - Marketing Strategies and plans

Question 1

4D’s

Answer 1

Desirable
Distinctive
Defendable
Deliverable

Question 2

SWOT Analysis

Answer 2

Strengths
Weaknesses
Opportunities
Threats

Question 3

Desirable

Answer 3

• What perceived benefits are you providing?
• How do your services or products save customers money?
• What can your services or products allow customers to do that they can’t do now?

Question 4

Distinctive

Answer 4

• Ask who else is providing these benefits? Key word benefits, the purpose it serves
• How do your services or products differ from the competition?
• Has to do something different than everyone

Question 5

Defendable

Answer 5

Ask what will prevent another firm from doing the same thing you’re doing?

• What capabilities do we have that are critical to providing our product/service that competitors can’t get
• You have to create a product or service that’s hard to imitate (can also be internal capabilities that others can’t easily imitate)
• Internal capabilities are what you build your strategy around
  ex. chartreuse

Question 6

Barriers you can use so they don’t imitate you

Answer 6

Legal
Information
Natural
Historical (unique founder, reputation, image, other 1st mover advantages)

Question 7

Deliverable

Answer 7

Asks if the strategy is feasible? (financially, human, other resources you have or can readily acquire)
- Do you have or can acquire the capabilities to efficiently deliver services or products?
BASICALLY, CAN YOU EXECUTE EFFICIENTLY
(what business school teaches you)

Question 8

How is desirability evaluated?

Answer 8

Desirability is evaluated primarily through marketing research to determine the value that potential customers place on the product or service.

Question 9

How is distinctiveness evaluated?

Answer 9

Distinctiveness is evaluated primarily though competitor analysis.

Question 10

How is defensibility evaluated?

Answer 10

Defensibility is evaluated primarily through an analysis of the ease with which the resources critical to providing distinctive benefits can be obtained by potential competitors.

Question 11

How is deliverability evaluated?

Answer 11

Deliverability is evaluated primarily through an analysis of relevant strengths and weaknesses of the management team and the resources it can accumulate