Marketing Overview
Essay Preview: Marketing Overview
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Situation “where are we now”
Marketing Environment
Market Opportunity
Organizations resources
Market
Who are the customers?
Who are the competitors?
Why is our product purchased?
How is the product purchased?
Where are our customers located?
Economic
Analyze demand:
How much will customer buy at different prices during a given period of time? We need to recommend pricing strategies that may/may not result in high margins, but will result in long-term growth.
Determinants of demand:
1) Needs and wants of buyers
2) Customers ability to buy
Customers Willingness to buy
Competition
Assess the intensity of competition and the form – i.e. price or non-price (product differentiation, promotion, or channel strategy) Assume that the proposed products will be cost effective and have high margins.
Research other System Management consulting firms for competitive information to determine product gaps or possible product extensions for existing products.
Identify possible strategic partnerships and potential brand enhancement.
Market Opportunity
Build upon their solid brand name and solid customer equity.
Identify needs of customers and potential customers
What basic needs do our products or services satisfy?
What share of the market do we currently have?
What are the competitive products and services – not just those of direct competitors but other products and services that satisfy similar needs?
Organizations Resources
Could