Marketing Situation Analysis (5 C’s) – provides information about the current situation in the marketplace:

Context (Macroenvironmental) – economic, social, legal, cultural, technological trends that could impact the success of a product

Company – current and historical information about the company (including its culture) and its products

Competition/Industry – information about the industry the company competes in and the competition it faces (can include a Porter’s 5 forces analysis)

Customers – detailed information about current and/or potential customer segments.  Includes description, segment size, needs, decision-makers, decision-making process, price sensitivity, etc.

Collaborators/Alliances – collaborative agreements currently being undertaken or future opportunities in the works

Opportunities and Issues Analysis (SWOT) – provides a more detailed breakdown of the internal and external issues faced by the company:

External to the company – opportunities and threats

Internal to the company – strengths and weaknesses

Marketing Strategies (STP) – segmentation, targeting and positioning:

Segmentation/Targeting – specific segments of the population you wish to reach with your product or service

Possible Consumer Segmentation:

·          Behavioral
o         User status
o         Usage rate
o         Usage occasion
o         Brand loyalty
o         Benefits sought

·          Demographic
o         Income
o         Age
o         Sex
o         Race
o         Family

·          Psychographic
o         Values, opinions
o         Activities, lifestyles

·          Geographic
o         International
o         Regional

Positioning – describe how your product will differentiate itself from the competition using a 2-3 sentence statement:

*For (target customers)

*Who are dissatisfied with (the current market alternative)

*Our product is a (new product category)

*That provides (key problem-solving capability, i.e., point of differentiation)

*Unlike (the product alternative—competitive frame)

*We have assembled (key whole product features for your specific application—i.e., major features) 

Marketing Mix (4 P’s) – strategies you plan to use (should make sense given your segmentation and positioning):

Product – recommendations and rationale for product strategy.  Includes product features, attributes, sizes, flavors, packaging, etc.

Price – specifies product prices for distributors, retailers and end consumers.  Should also address your rationale for pricing particularly versus the competition

Place/Channels/Distribution – recommendations for distributing your product/service

Promotion – specifies communication objectives and strategies for your product/service. Includes advertising, consumer promotion, trade promotion, business/sales force promotion, public relations, etc. 

Forces Driving Industry Competition (Porter’s 5 Forces):

Industry Competitors – rivalry between existing firms within the industry

Potential Entrants – threat of new entrants into the industry

Suppliers – bargaining power of suppliers

Buyers – bargaining power of buyers

Substitutes – threat of substitute products or services

Branding and Branding strategy:

Brand awareness – strength of the brand in a consumer’s memory – reflected by consumers’ ability to identify the brand under different conditions

Brand recognition – reflecting the ability of consumers to confirm prior exposure to the brand

Brand recall – reflecting the ability of consumers to retrieve the brand when given the product category

Category Attractiveness Criteria:

·          Market size

·           Market growth

·           Stage in product life cycle

·           Sales cyclicity

·           Seasonality

·          Profits

Factors to Consider Before Choosing Brand Elements (logo, name, symbols, packaging, characters and slogans):

·          Memorability – easily recognized and recalled

·          Meaningfulness – credibility and suggestiveness – also, fun, interesting and rich in imagery

·          Transferability – mobile both within and across categories/cultures

·          Adaptability – flexible enough to be easily updated

·          Protectability – legally secure

Brand Hierarchy:

·          Corporate brand (General Motors)

·          Family brand (Chevrolet)

·          Individual brand (Camaro)

·          Modifier (Z28)

Guidelines for “Good” Advertising:

1) Focus on the appropriate target market

2) Properly and uniquely position the brand

3) Cut through the clutter and attract attention

4) Correctly account for consumer brand and product knowledge

5) Be simple and clear

6) Be memorable enough and strongly associated with   the brand

7) Have sustaining power and durability over time

8) Impact sales