Enumeration Flashcards
(27 cards)
What are the Porter’s 5 Forces Model?
Competition in the Industry
* Potential of New Entrants into an Industry
* Power of Suppliers
* Power of Customers
* Threat of Substitutes
5 Different Areas of Marketing Analysis
- Market description: examine your market!
- Market size and market development: How enticing is the
current market?
Competitive Analysis: what are the market characteristics? - Analysis of the customer industry
- Potential analysis of the target market: How will the market
develop in the future?
Give the 6 objectives of Market Analysis
- To know the buyers
- To know consumer response
- To know market cost and profits
- To measure the impact of promotional efforts
- To design and implement marketing control
- To master the external forces
What are the 4 Market Segmentation?
- Geographic Segmentation
- Demographic Segmentation
- Psychographic Segmentation
- Behavioral Segmentation
Give 5 dimensions of market analysis
- Market Size
- Market Growth Rate
- Market Profitability
- Market Segmentation/Industry Cost Structure
- Market Trends/Distribution Channel
5 Importance of Market Identification and Analysis
- Regulation of Product
- Demographics
- Competition
- Technological Assessment
- Barriers
5 Types of Feasibility Study
- Technical Feasibility
- Economic Feasibility
- Legal Feasibility
- Operational Feasibility
- Time Feasibility
Identify the 3 steps in analyzing
competitors.
- Identify
- Evaluate
- Select
4 Types of Market Follower
- Counterfeiter
- Cloning
- Imitator
- Adapter
5 types of competitors
- Direct Competitors
- Indirect Competitors
- Potential Competitors
- Future Competitors
- Substitute Competitors
4 Strategies for balancing customer and competitor orientations
Conduct regular customer research
Focus on customer value
Develop a competitive strategy
Monitor the competitive landscape
Types of Market
Physical
Virtual/Non physical
Auction
Black
Financial
Market for intermediate goods
Importance of Target Market
- More Effective Marketing Mix
- Helps you choose the right Marketing Channels
- Uses limited time, money, and resources more efficiently
- Maximizes Sales and Profits
Medium for Mass marketing
- Social Media
- Television / Radio
- Newspapers
- Magazines & Email Marketing
Distribution Channel
Direct channel
Indirect channel
5Ps (marketing mix)
Product
Price
Place
Promotion
Estimating Competitors’ Reactions
Competitor’s objective
Competitor’s strategy
Competitor’s assumptions
Competitor’s resources and capabilities
Customer response profile.
Marketing strategies
Cause Marketing
Relationship Marketing
Word of Mouth Marketing
Paid Marketing
Diversity Marketing
Transactional Marketing
E-marketing
Undercover Marketing
Offline Marketing
Approaches in Marketing Strategy
Entrepreneurial Marketing
Formulated Marketing
Intrapreneurial Marketing
Competitive Strategies
Cost Leadership Strategy
Differentiation Strategy
Cost Focus Strategy
Differentiation Focus Strategy
Market challenger strategies
Frontal Attack
Flanking Attack
Encirclement Attack
Bypass Attack
Balancing Customer and Competitor Orientations
Market Orientation
Product Orientation
Customer Orientation
Competitor Orientation
Parts of Competitive Analysis Template
Company Highlights
Market Information
Product Information
SWOTT Analysis
Company Highlights
Company
Profile
Key
Competitive
Advantage
