Report ?needed Introduction: 2.Macro Analysis? 2.1PEEST 2.1.1Social 2.1.2Environment 3. Micro Analysis 3.1markets 3.2customers 3.3competitors 3.3.1Porters 5 forces analysis? 3.3.1
Report needed
[Table of Contents (and page number)
1.Introduction:
2.Macro Analysis
2.1PEEST
2.1.1Social
2.1.2Environment
3. Micro Analysis
3.1markets
3.2customers
3.3competitors
3.3.1Porter’s 5 forces analysis
3.3.1.1 Competition in the industry
3.3.1.2 Potential of new entrants into the industry
3.3.1.3 Power of suppliers
3.3.1.4 Power of customers
3.3.1.5 Threat of substitute products
3.3.2Competitor Perceptual Map
4.Internal Analysis
4.1Strategy review
4.2Functions review
4.3Productivity review
5.TOWs and Strategic analysis
5.1 TOWS
5.2 Strategic Analysis
Appendices
1. Appendix 1: Company overview
2. Appendix 2: Macro analysis : PEEST
3. Appendix 3: Micro analysis, customer segmentation, 5 forces and competitor perceptual map
4. Appendix 4: Internal analysis, marketing capabilities, marketing assets, 7Ps, and CBBE model.
Reference: Harvard referencing. ]
1. Adapted from: Kotler,P. and Keller, K. (2016) Marketing management. 15th edition. New Jersey, Pearson Prentice Hall.
2. Marketing Audit originally developed by Kotler, P., Gregor, W. and Rodgers, W.– see Kotler, P., Gregor, W.T. & Rodgers, W.H. (1989) The Marketing Audit Comes of Age, Sloan management review, vol. 30, no. 2, pp. 49 – 62.
3.uploaded file
The Assessment Task
The purpose of this assessment is to produce a marketing audit that would support a marketing plan. The audit should be produced for a company (or business unit) of automotive (EV) and should focus on the UK only.
You should conduct independent research using quality secondary sources, fully referenced, to provide the evidence to support your analysis e.g. Mintel, MarketLine Advantage, ABI Global, newspapers, journals, company websites etc.
This Marketing Audit is limited in scope and should contain the following areas: (A full Audit, based on Kotler’s format, can be seen under Assessment Information)
• Macro analysis (PEEST)
• Micro analysis (market, customers and competitors)
• Internal analysis (strategy, functions, productivity) 2
• One-page TOWS matrix and key strategic challenges summary
• Appendices (supporting information/model analysis, not included in the word count – two sides maximum for each appendix)
Appendix 1: Company Overview to include; name, type, size, key competitors, customers, products/services, specific area of focus for your audit – company or business unit and country.
Appendix 2: supporting Macro model/framework application
Appendix 3: supporting Micro model/framework application
Appendix 4: supporting Internal model/framework application
This should be in report format. Your discussion in the main body should be succinct, referring to the information/model analysis in your appendices. This should be addressed in a level 7 academic style. It should show:
• critical awareness in relation to the identification and application of relevant models/frameworks, analysis, evaluation, synthesis and original insights
• appropriate academic English for level 7 work
• appropriate support from secondary literature supported by appropriate Harvard referencing.
MARKETING PLAN
COMPANY LOGO
[Your business name goes here]
This template should be used in association with
ThinkBusiness.ie’s Marketing Guide Plan.
Disclaimer:
We do not accept any liability for the information or consequences of any actions taken based on the information contained on this website. You should not rely on any information contained on the website in relation to a specific issue or decision without taking financial, banking, investment or other advice from an appropriately qualified professional adviser. We take no responsibility for the accuracy of information contained in the materials contained on this website and we do not make any representations or warranties in respect of such information. Please refer to our terms of use for further details.
© Bank of Ireland 2015 Bank of Ireland is regulated by the Central Bank of Ireland. By proceeding any further you will be deemed to have read our 'Terms of Use' and 'Privacy Statement'
December 06, 2015
Prepared for [Client name], by [Your name] | Private & Confidential
CONTENTS
This table of content is automatically generated. When you have completed the market plan template you should update the table in MS Word.
CONFIDENTIALITY AGREEMENT 3
EXPLANATION OF CONFIDENTIALITY AGREEMENT 3
SUMMARY
[Insert summary here]
This section should be completed last. Provide summary details of:
Your market strategy, your objectives and how you will achieve them;
Your target market, its size, customers and competitors;
The channels to reach your target customers;
Be clear and concise. This summary should take up no more than a page.
MARKETING STRATEGY
[Insert marketing strategy here]
Include details of:
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1. Your value proposition
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2.Your approach to the “7Ps” of marketing
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3.Your route to market |
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Product
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Price
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Promotion
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Place
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People
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Process |
Physical evidence* |
*Where your goods/services are on display
To understand these terms and how they apply to your business, read the
ThinkBusiness.ie’s Market Strategy Guide.
[Insert marketing objectives here]
List the key marketing objectives of your business. There should be at least three objectives and ideally no more than six. The objectives should be SMART: Specific, Measurable, Attainable, Realistic and Timely.
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1) [Enter objective 1] |
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2) [Enter objective 2] |
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3) [Enter objective 3] |
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4) [Enter objective 4] |
TARGET MARKET
[Insert target market here]
Describe your target market, as well as the size and characteristics of each segment within that market. Draw on any primary market research you have conducted, such as customer surveys, and any secondary research you have accessed.
|
1) [Enter target 1] |
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2) [Enter target 2] |
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3) [Enter target 3] |
[Insert customer profiles here]
Include profiles of the type of customers you are targeting. In each case, provide:
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CUSTOMER TYPE |
DEMOGRAPHICS Gender, age, socio-economic grouping, occupations, location, etc. |
PURCHASING HABITS |
MOTIVATIONS Criteria for selecting product/service. |
TOUCHPOINTS Points of contact with customers (such as websites, social media, traditional media, family/friends etc). |
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xxx |
xxx |
xxx |
xxx |
xxx |
[Insert competitor analysis here]
You should include details of your main competitors, and compare your product or service against those competitors. You should identify the competitive advantages you believe your product or service has against these competitors.
To assist you with this you can use the
ThinkBusiness.ie Competitor Analysis Template
MARKET CHANNELS
[Insert market channels here]
Outline the channels you propose to use to reach and influence your target audience. Provide a summary of the marketing and communications activities you propose to conduct throughout the course of the period.
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CHANNEL |
TARGET AUDIENCE |
MARKET/ COMMUNICATION ACTIVITY |
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1) [Enter channel 1] |
xxx |
xxx |
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2) [Enter channel 2] |
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3) [Enter channel 3] |
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4) [Enter channel 4] |
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5) [Enter channel 5] |
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6) [Enter channel 6] |
IMPLEMENTATION
[Insert Implementation here]
For each marketing objective, you should:
List a range of actions that will be required to meet these objectives;
List the metrics by which the objective will be measured;
Identify who will be responsible for this action.
|
OBJECTIVES |
METRICS |
BUDGET |
TIMEFRAME |
RESPONSIBILITY |
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1) [Enter objective 1] |
xxx |
xxx |
xxx |
xxx |
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2) [Enter objective 2] |
||||
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3) [Enter objective 3] |
||||
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4) [Enter objective 4] |
||||
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5) [Enter objective 5] |
||||
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6) [Enter objective 6] |
4
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MARKETING AUDIT – notes and audit questions
Many companies today are finding that their current strategic marketing is growing obsolete in the face of a rapidly changing environment. This is happening to company giants as well as smaller firms that have not provided a mechanism for reviewing their marketing strategy. The audit offers one major mechanism for pursuing this necessary task.
The marketing audit is one important answer to the problem of evaluating the marketing performance of a company, a business unit or product. Marketing audits are distinguished from other marketing exercises in being comprehensive, independent, systematic, and periodic. A full marketing audit would cover the company’s (or product’s) external environment (Macro and Micro/task), and internal environment; strategies, organization, systems, productivity and functions. If the audit covers only one function, such as marketing communications (promotion), it is best described as a marketing function audit rather than a marketing audit. Marketing audits can be more or less detailed dependant upon the scope of the marketing planning activity.
A SWOT analysis can summarise the Audit findings with opportunities and threats coming from external analysis and strengths and weaknesses coming from internal analysis. Key strategic challenges arising from this can be stated to demonstrate syntheisis and encourage focus on key success factors. A TOWS matrix allows the matching of these factors to generate original insights for strategic alternatives – possible future strategic initiatives/projects that should maintain or improve the performance of the organisation or product under analysis.
The findings of an audit should be summarised in a 1 page SWOT or TOWS matrix with key strategic challenges identified, with each point rank ordered.
The marketing audit is carried out in three steps: developing an agreement as to objectives and scope; collecting the data; and presenting the report.
COMPONENTS OF A MARKETING AUDIT
Source: adapted from Kotler, P., Gregor, W.T. & Rodgers, W.H. (1989) The Marketing Audit Comes of Age, Sloan management review, vol. 30, no. 2, pp. 49 – 62.
N.B. Questions to consider – not an exhaustive list. Also Audits can be limited in scope so not all areas would then be considered. Refer to the Audit Brief for objectives and scope.
The Marketing Environment Audit
I. Macro-Environment
Political-Legal
1. What laws are being proposed that may affect marketing strategy and tactics?
2. What federal, state, and local agency actions should be watched? What is happening in the areas of pollution control, equal employment opportunity, product safety, advertising, price control etc., that is relevant to marketing planning?
Economic-Demographic
1. What does the company expect in the way of inflation, material shortages, unemployment, and credit availability in the short run, intermediate run, and long run?
2. What effect will forecasted trends in the size, age distribution, and regional distribution of population have on the business?
Environmental
1. What is the outlook for the cost and availability of natural resources and energy needed by the company?
2. What concerns have been expressed about the company’s role in pollution and conservation, and what steps has the company taken?
Socio-Cultural
1. What attitudes is the public taking toward business and toward products such as those produced by the company?
2. What changes are occurring in consumer life-styles and values that have a bearing on the company’s target markets and marketing methods?
Technology
1. What major changes are occurring in product technology? In process technology?
2. What are the major generic substitutes that might replace this product?
II. Micro (Task) Environment
Markets
1. What is happening to market size, growth, geographical distribution, and profits?
2. What are the market segments? What are their expected rates of growth? Which are high opportunity and low opportunity segments?
Customers
1. How do current customers and prospects rate the company and its competitors, particularly with respect to reputation, product quality, service, sales force, and price?
2. How do different classes of customers make their buying decisions?
3. What are the evolving needs and satisfactions being sought by the buyers in this market?
Competitors
1. Who are the major competitors? What are the objectives and strategies of each major competitor? What are their strengths and weaknesses? What are the sizes and trends in market shares?
2. What trends can be foreseen in future competition and substitutes for the company’s products?
Distributions and Dealers
1. What are the main trade channels bringing products to customers?
2. What are the efficiency levels and growth potentials of the different trade channels?
Suppliers
1. What is the outlook for the availability of different key resources used in the supply chain?
2. What trends are occurring among suppliers in their pattern of selling?
III. Internal Audit (five sections)
Marketing Strategy Audit
Marketing Objectives
1. Are the corporate objectives clearly stated and do they lead logically to the marketing objectives?
2. Are the marketing objectives stated in clear form to guide marketing planning and subsequent performance measurement?
3. Are the marketing objectives appropriate, given the company’s competitive position, resources, and opportunities? Is the appropriate strategic objective to build, hold, harvest, or terminate this business?
Strategy
1. What is the core marketing strategy for achieving the objectives? (Target market(s), value proposition, brand positioning) Is it a sound marketing strategy?
2. Are enough resources (or too much resources) budgeted to accomplish the marketing objectives?
3. Are the marketing resources allocated optimally to prime market segments, territories, and products of the organization?
4. Are the marketing resources allocated optimally to the major elements of the marketing mix, i.e. product quality, service, on/off line promotion, distribution, pricing?
Marketing Organisation Audit
Formal Structure
1. Is there a high-level marketing manager with adequate authority and responsibility over those company activities that affect the customer’s satisfaction?
2. Are the marketing responsibilities optimally structured along functional product, end user, and territorial lines?
Functional Efficiency
1. Are there good communication and working relations between marketing and sales?
2. Is the product management system working effectively? Are the product managers able to plan profits or only sales volume?
3. Are there any groups in marketing that need more training, motivation, supervision, or evaluation?
Interface Efficiency
1. Are there any problems between marketing and other businbess areas that need attention?
Marketing System Audit
Marketing Information System
1. Is the marketing intelligence system producing accurate, sufficient, and timely information about developments in the marketplace?
2. Is marketing research being adequately used by company decision makers?
Marketing Planning System
1. Is the marketing planning system well conceived and effective?
2. Is sales forecasting and market potential measurement soundly carried out?
3. Are sales quotas set on a proper basis?
Marketing Control System
1. Are the control procedures (monthly, quarterly, etc.) adequate to insure that the annual plan objectives are being achieved?
2. Is provision made to analyze periodically the profitability of different products, markets, territories, and channels of distribution?
3. Is provision made to examine and validate periodically various marketing costs?
New Product Development System
1. Is the company well-organized to gather, generate, and screen new product ideas?
2. Does the company do adequate concept research and business analysis before investing heavily in a new idea?
3. Does the company carry out adequate product and market testing before launching a new product?
Marketing Productivity Audit
Profitability Analysis
1. What is the profitability of the company’s different products, served markets, territories, and channels of distribution?
2. Should the company enter, expand, contract, or withdraw from any business segments and what would be the short and long-run profit consequences?
Cost-Effective Analysis
1. Do any marketing activities seem to have excessive cost? Are these costs valid? Can cost-reducing steps be taken?
Marketing Function Audit
Products
1. What are the product line objectives? Are these objectives sound? Is the current product line meeting these objectives?
2. Are there particular products that should be phased out?
3. Are there new products that are worth adding?
4. Are any products able to benefit from quality, feature, or style improvements?
Price
1. What are the pricing objectives, policies, strategies, and procedures? To what extent are prices set on sound cost, demand, and competitive criteria?
2. Do the customers see the company’s price as being in line or out of line with the perceived value of its offer?
3. Does the company use price promotions effectively?
Distribution
1. What are the distribution objectives and strategies?
2. Is there adequate market coverage and services?
3. Should the company consider changing its degree of reliance on distributors, sales, reps, and direct selling?
Promotion (Advertising, Sales Promotion, Publicity, Sales and Direct Marketing – audit both off line and on line)
1. What are the organization’s advertising objectives? Are they sound?
2. Is the right amount being spent in advertising? How is the budget determined?
3. Are the ad theme and copy effective? What do customers and the public think about the advertising?
4. Are the advertising media well chosen?
5. Is the sales promotion used effectively?
6. Is there a well-conceived publicity program?
7. Is the sales force used effectively?
8. Is the company making enough and effective use of direct marketing?
N.B. For service organisations then People/Process/Physical Evidence should aslo be reviewed for effectiveness:
1. Do we have the right people facing our customers?
2. How effective are our customer facing processes?
3. How effective is our organisation’s physical evidence?
NOTES
1. Adapted from: Kotler,P. and Keller, K. (2016) Marketing management. 15th edition. New Jersey, Pearson Prentice Hall.
2. Marketing Audit originally developed by Kotler, P., Gregor, W. and Rodgers, W.– see Kotler, P., Gregor, W.T. & Rodgers, W.H. (
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