The marketing plan Chapter 2.

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Presentation transcript:

The marketing plan Chapter 2

2.1 SWOT Analysis What is a swot analysis: A critical look at internal/external factors to assist In making decisions.

2.1 SWOT Analysis Internal Strengths & Weaknesses: What does it measure? Company: What a company does well/which areas are weak Customer: monitoring customer satisfaction Competitive position: internal performance compared to competition

2.1 SWOT Analysis External opportunities & threats Competition: knowing what the competition is doing Environmental scan Political: laws and regulations that may affect operations Economic: state of the economy, inflation, gdp, etc. Soci-cultural: preferences, attitudes, lifestyle, opinions Technology: How technical advances/change (software/hardward, capapbilities)

2.2 market segmentation Identify & analyze market Mass marketing Demographics: age, gender, income, marital status, ethnicity (Discretionary: money left after paying for basic needs vs. disposable income: money left after taxes, paycheck) Geographics: location Psychographics: activities, attitudes, personality/values Behavior: shopping patterns, buying behavior