MARKET PLANNING SWOT Analysis Market Segmentation J SUTHERLAND HERRIMAN HIGH

SITUATIONAL ANALYSIS  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 External Helpful Internal Harmful Internal Helpful Strength s Weaknes ses Threats Opportun ities And so SWOT is born...

INTERNAL  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 Harmful Internal Helpful StrengthsWeaknesses

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

ROMI

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  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. 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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