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2 market analysis (s1)

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2 market analysis (s1)

  1. 1. 2-Market Analysis Dr. Zhiyong Yang International Marketing
  2. 2. Action Plan segmentation–targeting–positioning Marketing Objectives Marketing Strategy Product Marketing Mix Promotion Price Distribution Control International Marketing Plan Market Analysis
  3. 3.  2-1: Creating a Marketing Plan (Harvard book chapter)  2-2: Marketing Plan (Textbook p. 579- 587)
  4. 4. Macroenvironment Microenvironment S.L.E.P.T Competitive analysis Customer analysis
  5. 5. SLEPT - Social - Legal - Economic - Political - Technological
  6. 6.  Strongly held enduring beliefs  National culture influence (Hofstede 1991) ▪ Individualism/collectivism ▪ Power distance ▪ Masculinity/femininity ▪ Uncertainty avoidance ▪ Long/short term orientation
  7. 7. Gender Role Identity  Traditional Sex Role Attitude  Egalitarian Sex Role Attitude Gender Role and Marketing Strategy “Real men don’t cry!”
  8. 8. Barbara K tools – cushioned handles Smith & Wesson – redesigned to “fit” women’s hands Product Strategy Homedepot targeting at women
  9. 9. Example: Today, women influence 80% of all vehicles sold. Implications for dealerships and sales training? Marketing Communication
  10. 10.  Rising incomes  Stock market  Interest rates  Purchasing power  Inflation and interest rates  Recession  E.g., U.S. house-market  Income Distribution  Diamond-shape  Pyramid-shape Income Distribution E.g., US, Japan 15%, more than 100K 15%, less than 15%K
  11. 11.  Emerging Markets: Opportunity or threat?  China’s stock market (Shanghai stock exchange) ▪ 2006 Gain – 130% ▪ 2007 Gain (January to May) – 50%  Emerging markets ▪ Botswana: 1-year 100%, 5-year 226% ▪ Romania: 1-year 17%, 5-year 612% ▪ Pakistan: 1-year 15%, 5-year 574%
  12. 12.  A “dual” economy coexists.
  13. 13.  Developing nations are growing at faster rates than developed nations – 7.3% vs. 3.1% in 2006 (WB).  Greater growth is partially due to increased commodity prices, e.g., metals prices leapt by 57% last year (IMF).
  14. 14.  Face hypercompetitive yet high-growth domestic markets  Able to make profits at low prices ▪ E.g., Ranbaxy sells $1-a-day generics AIDS treatments. Ciprofloxacin (US price = $51; India price = $.63).  Cost efficient ▪ E.g., Embraer wages 1/3 of those at Boeing.  Access to low cost, high quality “knowledge” ▪ E.g., Huawai employs 7,000 engineers.
  15. 15.  Ideas from Prahalad and Lieberthal (1998)  Western multinationals in the 80’s viewed emerging markets as “marginal” – new markets for “old” products. ▪ Targeted high-end consumers ▪ Non-responsive adaptation ▪ Differences in distribution systems were ignored  “Growth” in EM is in the middle-class. They are brand loyal and have a greater concern for value. This market is not “marginal” any more. Population (in millions) with annual purchasing power above $5,000 in 2,002: China (392), India (195), Brazil (51), Mexico (40).  Consumers in EM with annual PP of $6,000 or more buy durable goods, high-end electronics, and some “branded” products.
  16. 16.  Common law  English root - tradition/precedent  Code law  Roman root – written  Theocracy  Islamic law  Hebrew law  International Law?  International Court of Justice (The Hague)  Extraterritoriality
  17. 17.  Common Law vs. Code Law  Olga Romero vs. McDonalds Corporation in Ecuador (and the Andean Group) – who owns the name? Mrs. Romero registered the name first (1974) – 27-years of legal battle.
  18. 18.  Degree of litigiousness  Lawyers per 10,000 people (BW 2002) ▪ United States 307.4 ▪ UK 102.7 ▪ Germany 82.0 ▪ Japan 12.1 ▪ China 1.0
  19. 19.  China – Piracy Markets Video  Black market incentives  Enforcing challenges ▪ Legal aspects ▪ Ethical aspects  Enforcement – winners and losers  Why are IPR fiercely protected?
  20. 20.  Think of new mobile technologies introduced in past 2–3 years. Examples:  WAP (Wireless Application Protocol) ▪ enable access to the Internet from a mobile phone or PDA  4G (4 Generation) ▪ incorporate high-speed internet access and video telephony  MMS (Multimedia Messaging Service) ▪ allow sending messages that include multimedia objects (images, audio, video, rich text) and not just text as in Short Message Service (SMS)  What issues do these raise for managers?
  21. 21. 1. Early adopter 2. Intermediate 3. ‘Wait and see’
  22. 22.  Diffusion-Adoption
  23. 23.  SMS/text messaging  Wi-Fi services  Mobile commerce Some digital technologies directly related to marketing activities  Interactive/digital TV  Digital radio A mobile phone can be used as:  SMS  Music playing system  E-mail reading platform  Camera  Personal organizer  Internet access device  Global positioning system (GPS)
  24. 24. One of the Wi-Fi applications: Voice over Internet Protocol (VoIP)
  25. 25. Figure 3.10 Components of an interactive digital TV system
  26. 26. NAFTA (3) EU (27) CHINA JAPAN ASEAN (10)
  27. 27.  Video – Trade Wars Discussion  Rationale behind tariffs  Winners and losers  Short-term and long-term effects ▪ Unemployment ▪ Retaliation
  28. 28.  Micro-environmental factors: ▪ Demand analysis ▪ Customer research ▪ Competitor analysis ▪ Intermediary analysis The Micro Environment
  29. 29. Substitute Products and Services Bargaining Power of Supplies Potential New Entrants Bargaining Power of Buyers Rivalry of Firms
  30. 30.  Industries that are hard to enter are cozy for insiders, but also often attractive to outsiders longing for the value being shared by so few.  The threat of new entrants is large if,  The barrier of entry to the industry is high/low.  Economies of scale has not been built up/has been built up.  Access to distribution is easy/difficult.
  31. 31.  Industries with few substitute products are more/less attractive than those with many substitutes.  The threat of substitutes is large if,  Relative price performance of substitutes is high/low.  Switching cost to new products is high/low.  Buyer propensity to substitute is high/low.
  32. 32.  Attractive industries feature disorganized, small customers, with little purchasing and negotiating power.  A buyer has bargaining power if,  It has large, concentrated buying power that enables it to ____________.  What it is buying is customized/undifferentiated and there are few/many alternative resources.  It could integrate backwards/forwards and so take over a supplier.
  33. 33.  Attractive industries feature small and disorganized suppliers.  Suppliers gain power when:  They are small/large, relative to the buyers (e.g., Alcoa).  It is difficult for buyers to switch to competing suppliers (e.g., customized/undifferentiated products).  They pose a credible threat of integrating forward/backward and taking over the buyers’ functions.
  34. 34.  Attractive industries are controlled by monopolies or gentlemanly oligopolies.  Rivalry is intense if:  Competitors are numerous or are roughly equal in size and power.  Industry growth is slow, precipitating fights for market share.  The product or service lacks differentiation or switching costs.
  35. 35.  The SWOT acronym stands for:  Strengths (of the organization, now and in the future)  Weaknesses (of the organization, now and in the future)  Opportunities (in the environment, now and in the future)  Threats (from the environment, now and in the future)
  36. 36.  Consider from both the view of the organization (product) as well as from customers and competitors  Realistic and not modest  One’s strength is another’s weakness  Questions: ▪ What are the organization’s advantages over others? ▪ What does the organization do well? ▪ What makes you stand out from your competitors?
  37. 37.  marketing expertise  location of your business  innovative product  unique product or service  company image  any other aspect that adds value to your product or service
  38. 38.  Consider from internal and external viewpoint  Be truthful so that weaknesses may be overcome as quickly as possible  One’s strength is another’s weakness  Questions: ▪ What is done poorly? ▪ What can be improved? ▪ What should be avoided?
  39. 39.  lack of marketing expertise  undifferentiated products and service (i.e. in relation to your competitors)  poor brand recognition or not understood  location of your business  damaged reputation
  40. 40.  An OPPORTUNITY is a chance for organizational growth or progress due to a favorable juncture of circumstances in the business environment.  Possible Opportunities: ▪ Emerging customer needs ▪ Quality Improvements ▪ Expanding global markets ▪ Vertical Integration
  41. 41.  a developing market such as the Internet mergers, joint ventures or strategic alliances  a new market  a market vacated by an ineffective competitor  any external factor that may create demand or the possibility for increased profitability
  42. 42.  A THREAT is a factor in your company’s external environment that poses a danger to its well- being.  Possible Threats: ▪ New entry by competitors ▪ Changing demographics/shifting demand ▪ Regulatory requirements
  43. 43.  a new competitor in the market  price wars with competitors  a competitor has a new, innovative product or service  competitors have superior access to target customers  competitors with a strong brand  poor relationships with various stakeholders
  44. 44.  SWOT analysis uses a matrix that has two axes (strength/weakness & opportunity/threat), and so has four cells in which appropriate strategies are identified Opportunity Threat Weakness Strength Macro Micro
  45. 45. MAXI-MINI How to take advantage of opportunities by reducing weaknesses? Threat Opportunity Weakness Strength MINI-MAXI How to avoid threats by using strengths? MINI-MINI How to avoid threats by reducing weaknesses? MAXI-MAXI How to take advantage of opportunities by using strengths? Possible strategies
  46. 46. WT Strategies  Counter weaknesses and threats  = Build strengths for defensive strategy ST Strategies  Leverage strengths to minimize threats  = Defensive strategy Threats  WO Strategies  Counter weaknesses through exploiting opportunities  = Build strengths for attacking strategy SO Strategies  Leverage strengths to maximize opportunities  = Attacking strategy Opportunities WeaknessesStrengths The organization
  47. 47. 2-3: Carvel Ice Cream (Ivey case)

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