Marketing Evaluation

MARKETING PLAN EVALUATION WORKSHEETS Your task is to describe and evaluate the marketing plan of an automobile brand and model of your choice. For the marketing aspect of your evaluation focus on a particular model not the whole company: for example consider the Chevrolet Camaro, not GM as a whole. For the situation analysis you will need to consider more than just specific model, i. e. what is the situation of GM as a whole and how is this impacting the marketing of your particular model. You focus should be primarily Canada while recognizing that for the situation analysis especially, there may be issues globally (e. . world economy) that will be relevant. These worksheets are designed to assist you in your project. Worksheets are a useful tool because they help to ensure that important information is not omitted from your evaluation. Answering the questions on these worksheets will enable you to: 1. Organize and structure the data and information you collect during the situation a nalysis. 2. Use this information to better understand your firm's strengths and weaknesses and to recognize the opportunities and threats that exist in the marketing environment. 3. Identify if goals and objectives that capitalize on strengths. . Identify if a marketing strategy that creates competitive advantages. 5. Identify and critique a plan for implementing the marketing strategy. By downloading these worksheets in an electronic format, you will be able to change the outline or add additional information that is relevant to your situation. Remember that there is no one best way to organize an evaluation of a marketing plan. The outline was designed to provide an analytical framework and to be flexible enough to accommodate the unique characteristics of the company you are reviewing.It is possible that not everything in the worksheets will apply equally to your company. You could start by reviewing Figure 2. 6, the overview of the marketing planning process found on page 62 of the text. You should also review Table 2. 2 and appendix 2 of your text. As you complete the worksheets, you should refer back to the text of the chapters as suggested throughout. In completing the situation analysis section, be sure to be as comprehensive as possible. The viability of your analysis depends on how well you have identified all of the relevant environmental issues.Likewise, as you complete the analysis, you should be accurate and realistic about the firm's characteristics. Do not attribute strengths to the firm that it does really does not possess. Being accurate also goes for your listing of weaknesses. I. Executive Summary The executive summary is a synopsis of the overall evaluation. The executive summary is easier to write if you do it last, after you have written the entire evaluation . Include a description of the product, the target market, and the need for it in the market. You should give an overview of the main points of your evaluation.Most importantly, kee p in mind that this is your opportunity to sell your marketing plan and entice your audience to read the details of the report. Company Description and Input from Corporate Strategies (pp. 45 – 54) Include a description of the company’s recent history and successes and touch briefly upon the strategy for the organization as a whole. This may include elements such as: Mission Corporate objectives Strategic Business Unit (SBU) objectives (Figure 2. 1 on page 46 illustrates the stages in formulating a strategy for the company as a whole. )III. Situation Analysis A situation analysis considers the internal circumstances of the organization or product, the external environment, competitive activity, and characteristics of the customer that may be relevant to the marketing plan. A situation analysis includes: †¢ Internal analysis †¢ Environmental analysis †¢ Customer analysis †¢ Competitive analysis A. Internal Analysis Review of marketing goals and objec tives Identify the firm's current marketing goals and objectives. State whether these goals and objectives are: Consistent with the firm's missionConsistent with recent changes in the marketing or customer environments Leading to expected performance outcomes (sales volume, market share, profitability, awareness, brand preference) Review of current marketing performance Describe the firm's current performance compared to other firms in the industry. Is the performance of the industry as a whole improving or declining? Why? If the firm's performance is declining, what is the most likely cause (e. g. , environmental changes, flawed strategy, poor implementation)?Review of current and anticipated organizational resources Describe the current state of the firm's organizational resources (e. g. , financial, capital, human, experience, relationships with key suppliers or customers). How are the levels of these resources likely to change in the future? If resource levels are expected to ch ange: How can the firm leverage additional resources to meet customer needs better than competitors? How can the firm compensate for future constraints on its resources? Review of current and anticipated cultural and structural issuesIn terms of marketing strategy development and implementation, describe the positive and negative aspects of the current and anticipated culture of the firm. Examples could include: The firm's overall customer orientation (or lack thereof) The firm's emphasis on short-term vs. long-term planning Willingness of the culture to embrace change Internal politics and power struggles The overall position and importance of the marketing function Changes in key executive positions General employee satisfaction and morale B. Environmental AnalysisReview Chapter 4 Economic Growth and Stability Identify the general economic conditions of the country, region, province, and local area in which the firm operates: Political, Legal, and Regulatory Issues Identify any po litical activities that affect the firm or the industry: Changes in elected officials (domestic or foreign) Industry (lobbying) groups Consumer groups Changes in Technology Identify ways that changing technology has affected the firm's customers: Identify ways that changing technology has affected the way the firm or the industry operatesIdentify current technologies that the firm is not using to the fullest potential: Identify future technologies that may increase the risk of product obsolescence: Sociocultural Trends Identify changes in society's demographics and values that will affect the firm or the industry (if this becomes too broad, focus on the firm's target customers): Explain the changes that shifting demographics and values will have on the firm's: Identify any problems or opportunities that may be created by changes in the cultural diversity of the firm's customers and employees:Identify any ecological issues (pollution, recycling, energy conservation) that the firm or industry is facing: Identify the ethical and social responsibility issues that the firm or industry is facing: C. Customer Analysis Review Chapters 6 & 7 There are seven general questions that marketers should ask about their customers: 1. Who are our actual and potential customers? 2. Why do they buy our product? 3. Why do others not buy our product? 4. Where do our customers buy our product? 5. How do they buy it? 6. When do they buy it? 7. What do they do with our product?Who are the firm's current and potential customers? Describe the important identifying characteristics of the firm's current and potential customers: Demographic Geographic Psychographic Product usage Identify the important players in the purchase process for the firm's products: Purchasers (actual act of purchase) Users (actual product user) Influencers (influence the decision, make recommendations) Financial responsibility (who pays the bill? ) What do customers do with the firm's products? Where do customers purchase the firm's products?Identify any trends in purchase patterns across these outlets (e. g. , how e-commerce has, or could, change the way the firm's products are purchased). When do customers purchase the firm's products? Factors under the firm's control Factors not under the firm's control Why (and how) do customers select the firm's products? Describe the basic benefits provided by the firm's products relative to competing products: Describe the degree to which customers' needs are being fulfilled by the firm's products relative to competing products: Describe how customers' needs are expected to change in the future.Describe the relative importance of transactional (short, one-time) vs. relational (long-term, ongoing) exchange processes when customers make a purchase: Why do potential customers not purchase the firm's products? After answering these seven questions, then you can look at segmentation and positioning analysis (see p. 267 for positioning analysis and position ing maps). D. Competitive Analysis (pp. 121-12,; 295, 387) Identify the firm's major competitors (brand, product, generic) Identify the characteristics of the firm's major competitors: List any potential (future) competitors not identified in the preceding.IV. SWOT Analysis: The previous analyses should have uncovered the essential elements for a SWOT analysis. This is essentially a summary of the previous findings, and its format may shed further light on the current company situation (pp. 62 – 63; see Blackboard â€Å"Things to consider for a SWOT and PESTEL analysis; also review concepts from Comm 101). A. Strengths Strength 1: _________________________________________________________ How does this strength enable the firm to meet customers' needs? Does this strength make the firm different from (better than) its competitors? Repeat as needed to develop a complete list of strengths) B. Weaknesses Weakness 1: ________________________________________________________ How doe s this weakness prevent the firm from meeting customers' needs? Does this weakness make the firm different from (worse than) its competitors? (Repeat as needed to develop a complete list of weaknesses) C. Opportunities Opportunity 1: _______________________________________________________ How is this opportunity related to serving customers' needs? How can the firm capitalize on this opportunity in the short- and long-term? Repeat as needed to develop a complete list of opportunities) D. Threats Threat 1: ___________________________________________________________ How is this threat related to serving customers' needs? How can the firm prevent this threat from limiting its capabilities in the short- and long-term? (Repeat as needed to develop a complete list of threats) F. Matching, Converting, Minimizing, and Avoiding Strategies Describe ways that the firm does or can match its strengths to its opportunities to create capabilities in serving customers' needs.Does the firm convert i ts weaknesses into strengths or its threats into opportunities? If not, how can the firm minimize or avoid its weaknesses and threats? Does the firm possess any major liabilities (unconverted weaknesses that match unconverted threats) or limitations (unconverted weaknesses or threats that match opportunities)? If so, are these liabilities and limitations obvious to customers? Can the firm do anything about its liabilities or limitations, especially those that impact the firm's ability to serve customers' needs? V.Marketing Objectives and Strategies: from your analysis, what do you infer as the company’s marketing objectives? A. Marketing Goal A: __________________________________________________ Objective A1: ______________________________________________________ Be as specific as you’re able. Objective A2: ______________________________________________________ Be as specific as you’re able. B. Marketing Goal B: __________________________________________________ Objective B1: ______________________________________________________ Be as specific as you’re able.Objective B2: ______________________________________________________ Be as specific as you’re able. (Repeat as needed to develop a complete list of goals and objectives) VI. Marketing Strategies: based on your observations of the company activity, what are the marketing strategies being pursued? A. Primary Target Market and Marketing Mix (pp. 106-109) Primary target market: ________________________________________________ Review Chapter 7 This target's primary need: Identifying characteristics (demographics, geography, psychographics): Purchasing/shopping habits and preferences:Consumption/disposition characteristics: Product: _______________________________________________ Review Chapters 8 & 9 Major features and benefits: Sustainable competitive advantage: Differentiation / positioning strategy: Brand name and packaging: Customer service strategy: Complementary product s: Pricing: ________________________________________________ Review Chapter 10 Pricing objectives: Description of per unit costs: Discount/markdown policy: Distribution: ____________________________________________ Review Chapter 11 General supply chain strategy: Intermediaries and channels to be used:Elements of customer convenience: Promotion: _____________________________________________ Review Chapters 12 & 13 General IMC strategy: IMC objectives and budget: Elements of the advertising/publicity strategy: Elements of the personal selling strategy: Elements of trade sales promotion (push) strategy: Elements of consumer sales promotion (pull) strategy: Elements of the sponsorship strategy: B. Is there a Secondary Target Market? If so, repeat the above analysis VII. Marketing Implementation A. Structural Issues What organizational structure is being used to implement the marketing strategy:Describe any changes to the firm's structure needed to implement the marketing strategy (e. g . , add/delete positions, change lines of authority, change reporting relationships). B. Tactical Marketing Activities: what is the company doing specifically to implement the strategy that you have identified? |Specific Tactical Activities | | | |Product Activities | | | |1. |2. | |3. | | | |Pricing Activities | | | |1. | |2. | |3. | | | |Distribution Activities | | | |1. | |2. | |3. | | |IMC Activities | | | |1. | |2. | |3. | VIII. Evaluation and Control A. Formal Marketing Control Describe the types and levels of formal control mechanisms that should be used to ensure the implementation of the marketing plan. Summary and Conclusions Write approximately one to three paragraphs summarizing your analysis and providing a broad overview of the key actions recommended.