1. Business English Upper Intermediate U2W09 John Silberstein johnsilb@aol.com

2. Agenda Review of Prof. Hussain’s presentation Product Planning Current Events: Fear About Spain

3. Marketing What are your thoughts on his presentation? What did you learn? What did you feel was important? Professor Hussain’s Presentation

4. Marketing What is marketing innovation? Market Innovation is about changing the mix of the 4Ps. Professor Hussain’s Presentation

5. Marketing Is Marketing Innovation about creating a new product? No, it is about finding something new in the product. The MP3 player was not new, Apple creating a new better product when it created the iPod. Professor Hussain’s Presentation

6. Marketing 2001 In 2000, digital music players were either big and clunky or small and useless with equally terrible user interfaces. Apple saw the opportunity and announced the release of the iPod, their first portable music player on October 23, 2001. At first, the reactions were confused and hostile, critics lambasted the $400 price tag, the unconventional scroll wheel and the lack of Windows compatibility. Despite all this, the iPod sold beyond everyone's expectations, went on to revolutionize the entire music industry, and the rest is history. Professor Hussain’s Presentation

7. Marketing What were the 3C’s? Customers, Company, Competition. What is important about each? Professor Hussain’s Presentation

8. Marketing Who understood what was meant by 2SLS Procedure? This will not be on the exam! Professor Hussain’s Presentation

9. Marketing Who understood what was meant by 2SLS Procedure? This will not be on the exam! Professor Hussain’s Presentation

10. Marketing Who understood what was meant by 2SLS Procedure? This will not be on the exam! Professor Hussain’s Presentation

11. Marketing What does COO refer to? Competitive Orientation What does CUO refer to? Customer Orientation What does XFI refer to? Cross Functional Integration Professor Hussain’s Presentation

12. RESULTS

13. Marketing Why would XFI be helpful for any organizations? What type of Management structure is required for XFI to be implemented effectively? Professor Hussain’s Presentation

14. Marketing Why would XFI be helpful for any organizations? What type of Management structure is required for XFI to be implemented effectively? Professor Hussain’s Presentation

15. Marketing: 4 Ps Strength attributes of the person or company that are helpful to achieving the objective. Weaknesses attributes of the person or company that are harmful to achieving the objective. Opportunities external conditions that are helpful to achieving the objective. Threats external conditions which could do damage to the objective. Products: Planning tools: SWOT

16. Marketing: 4 Ps Strength A strength could be: Your specialist marketing expertise. A new, innovative product or service. Location of your business. Quality processes and procedures. Any other aspect of your business that adds value to your product or service. Products: SWOT

17. Marketing: 4 Ps Weakness A Weakness could be: Lack of marketing expertise. Undifferentiated products or services (i.e. in relation to your competitors). Location of your business. Poor quality goods or services. Damaged reputation. Products: SWOT

18. Marketing: 4 Ps Opportunity An Opportunity could be: A developing market such as the Internet. Mergers, joint ventures or strategic alliances. Moving into new market segments that offer improved profits. A new international market. A market vacated by an ineffective competitor. Products: SWOT

19. Marketing: 4 Ps Simple rules for successful SWOT analysis. Be realistic about the strengths and weaknesses of your organization when conducting SWOT analysis. SWOT analysis should distinguish between where your organization is today, and where it could be in the future. SWOT should always be specific. Avoid grey areas. Always apply SWOT in relation to your competition i.e. better than or worse than your competition. Keep your SWOT short and simple. Avoid complexity and over analysis. SWOT is subjective. Products: SWOT

20. Marketing: 4 Ps Example: Starbucks Strengths: Starbucks Corporation is a very profitable organization, earning in excess of $600 million in 2004. Weaknesses: Starbucks has a reputation for new product development and creativity. Opportunities: New products and services that can be retailed in their cafes, such as Fair Trade products. Threats: Starbucks are exposed to rises in the cost of coffee and dairy products. Products: SWOT

21. Marketing: 4 Ps Example: Nike Strengths: Nike is a very competitive organization. Phil Knight (Founder and CEO) is often quoted as saying that 'Business is war without bullets. Weaknesses: The organization does have a diversified range of sports products. Opportunities: Product development offers Nike many opportunities. Threats: Nike is exposed to the international nature of trade. Products: SWOT

22. Marketing: 4 Ps Group Exercise Break into groups of 3 or 4 As a group, choose a product or company and complete a SWOT Analysis. Products: SWOT

23. Current Events What is a T-Bill? Why is a 0.7% increase on the interest rate of a T-Bill cause for concern? It seems so small. What are two things that can help Spain resolve the debt? Cost of Debt adds to fear about Spain