TULIAO, Maria Athena E. April 24, 20154LMMGTL2
MARKETING ASPECT Refers to making a study of the market by
environmental scanning through interview and various collection
methods. Refers to how the products will be distributed to the
consumers. The promotional methods to be used to entice the
customer to patronize the product.- Includes advertising, selling,
and delivering products to people. The market department tries to
get the attention of the target audiences by using slogans,
packaging design, celebrity endorsement and general exposure in the
media world.OBJECTIVES, STRATEGIES and TACTICS the parts of a solid
strategic marketing plan. In order to achieve this, the marketing,
mix must be put into use: Price, Product, Place and Promotion.PRICE
- the average amount or rate at which you'll offer this product or
service and how that relates to competitive offeringsPRODUCT - the
item you offer for sale and what makes it unique and needed.PLACE -
the strategic advantage you derive by being located in a certain
region, using a decentralized work environment, and the
like.PROMOTION - the essence of the marketing strategies you'll use
to promote your business.
SWOT ANALYSIS to help you develop a strong business strategy by
making sure you have considered all of your business strengths and
weaknesses, as well as the opportunities and threats it faces in
the market place.Strengths & Weaknesses (Internal) Reputation,
patents, locationYou can change them overtime but not without some
work.Opportunities & Threats (External) Supplies, competitors,
pricesThey are out there in the market, happening whether you like
it or not. You cannot change them.
EXISTING BUSINESSES can use SWOT analysis, at any time to assess
a changing environment and respond proactively.NEW BUSINESSES
should use a SWOT analysis as a part of the planning process. There
is no one size fits all plan for your business, and thinking about
for your new business in terms of its unique SWOTs will put you on
the right track away.
PEST Market Analysis commonly measures a MARKETSWOT Analysis
measures a BUSINESS UNIT, A PROPOSTION or an IDEA
PORTERS FIVE FORCES1. Existing competitive rivalry between
suppliers.2. Threat of new market entrants.3. Bargaining power of
buyers.4. Power of suppliers.5. Threat of substitute products
(including technology change)
The marketing aspect is also considered the most important area.
This is so because it describes market situations where the product
can be identified through the demand analysis.INDUSTRY PROFILE it
describes the general trade practices of an industry or business
which sells the same product. Some of these practices are pricing,
sales, methods of transportation, promotion, channels of
distribution, supplies, packaging resources available, the values
of people, and also the SWOT.DEMAND in this section, the student or
researcher pinpoints the specific customers who are willing and are
able to buy the proposed products. This could be done through
segmenting the market geographically and demographically. SUPPLY
represents the number of sellers/producers selling similar or
substitute products. Supply is referred to as the competitors.
The process of the business to build strong customer
relationship in order to gain loyalty from them.
MARKETING OBJECTIVES To understand the marketplace and customer
needs and wants. To offer affordable services to the customers and
at the same time maintaining constant quality outputs. Provide in
time service to customers. To maximize the usage of equipments. To
design an effective marketing strategy and to achieve competitive
advantage over competitors. To build strong customer relationship.
To earn profit for covering expenses and for future purposes.
