Marketing Environment Flashcards
1
Q
Customer Analysis
A
E.g. exfoliating face wash have small plastic beads but negatively impact environment, customers wanted something for environmentally friendly
2
Q
• Competitor Analysis
A
- E.g. competitor drops price = respond by dropping price = price war
- Or add value to your product
3
Q
External Analysis
A
Customer Analysis
Competitor Analysis
Market/submarket Analysis
Environmental Analysis
4
Q
Internal Analysis
A
- Performance Analysis
* Determinants of strategic options
5
Q
What do external Analysis and Internal analysis
A
- Market Strategy Options (does it see threats, opportunities/ read data well/ organisation where innovation is encouraged?)
- Leads to Preferred marketing strategy and implementation
6
Q
Helicopter Vision
A
- Describes the ability to view from on high a situation and to see in sharp outline the right “big picture.”
- Broader trends and opportunities happening the market which can impact marketing strategies- Another analogy way an eagle flies high with extremely keen vision to spot what is really going on at ground level.
7
Q
SWOT Analysis
A
Internal - Strengths - Weaknesses External - Opportunities - Threats
8
Q
PESTLE
Political
A
Government Policies Trade Agreements Corruption Bureaucracy Regulation Governance
9
Q
PESTLE
Economic
A
GDP Cost of living Inflation Taxes and Duties WTO/ Free Trade Globalization Finances & credit Government Policies
10
Q
PESTLE
Social
A
Social mobility Social class Demographics Ethics and religion Education Lifestyle Cross-cultural communication
11
Q
PESTLE
Technological
A
Changing technologies Computer calculation speed/power Internet connectivity Wireless charging Contactless payments Automation Security in cryptography etc. Social media
12
Q
PESTLE
Legal
A
- Consumer law
- Discrimination law
- Copyright law
- Health and safety law
- Employment law
- Fraud law
- Import/ export law
Protection of intellectual property
13
Q
PESTLE
Environmental
A
- Climate
- Climate change
- Weather
- Pollution
- Availability of renewable goods
14
Q
Competitor analysis
Porters Five Forces (1980’s)
A
Suppliers New Entrants Substitutes Customers Industry Rivalry
15
Q
Challenges of stakeholder theory
A
- To balance the needs of stakeholders
- To understand power and interest of different stakeholders
- To create win-win outcomes
