SWOT Analysis Market Segmentation Market Planning SWOT Analysis Market Segmentation J Sutherland Herriman High

Situational Analysis And so SWOT is born... Good Marketing begins with good planning Companies must look critically within to recognize strength and weaknesses Must also look for opportunities and threats from outside the company as well External Harmful Helpful Internal Strengths Weaknesses Threats Opportunities And so SWOT is born...

internal Company Customers Competition Strengths vs Weaknesses How the business operates Company What does the company do well, and weak. Review of the staff It’s financial situation Production capabilities Marketing Mix Customers Studying their buying habits. Who are your customers? What, when, and how much do they buy? How do customers rate the company Competition How are you compared to the competition? What is the company’s market share? Are competitors taking business away from the company? Internal Helpful Strengths Weaknesses Internal Harmful

External Environmental Scan Competition Opportunities and Threats What’s happening in the world? Politically Economic Socio-cultural Technological PEST Opportunities and Threats What is happening outside?? Competition Must know what the competitors are doing at all times Changes in a competitor’s financial situation can provide opportunities Opportunities Threats External Helpful External Harmful

ROMI Return On Marketing Investment – A measurement organizations calculate that helps them evaluate their marketing investment

Market segmentation Businesses look for ways to connect with current and potential customers They need to know these people well. Where they live Their income level Age Ethnic background Activities Values Interests

Market segmentation Marketers analyze groups of customers and break them down to smaller, more precise clusters.’ For example: Jeans Who is buying? At what price? What special features do they want?

Demographics Describe a population based in terms of personal characteristics Age Baby Boomers – Born between 1946-1964 Generation X – early 1960s to the early 1980s Generation Y - early 1980s to the early 2000s Generation Z - early years of the 2000s to the present Gender Income Marital Status Ethnic Background

Geographics Segmentation of market based on where people live Local Regional National Global markets For example: A small restaurant will cater to people who live near by Coca-Cola and Pepsi are marketed internationally

Psychographics Grouping people with similar lifestyles as well as: shared attitudes Values Personalities Opinions How a shared group spends their time and money

Behavioral Looking at the benefits desired by the customer Shopping patterns Usage rates For example: MasterCard research revealed five groups of online customers: Confident core users Cautious shoppers Mainstream users Curious but not convinced And technology skeptics The overriding finding was that enhanced security influenced purchasing decisions.

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