Marketing Evaluation free essay sample

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 analysis. 2. Use this information to better understand your firms 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 firms 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, keep 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 objectives Identify the firms current marketing goals and objectives. State whether these goals and objectives are: Consistent with the firms mission Consistent 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 firms current performance compared to other firms in the industry. Is the performance of the industry as a whole improving or declining? Why? If the firms 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 firms 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 change: 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 issues In 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 firms overall customer orientation (or lack thereof) The firms 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 Analysis Review 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 political 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 firms customers: Identify ways that changing technology has affected the way the firm or the industry operates Identify 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 societys demographics and values that will affect the firm or the industry (if this becomes too broad, focus on the firms target customers): Explain the changes that shifting demographics and values will have on the firms: Identify any problems or opportunities that may be created by changes in the cultural diversity of the firms 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 firms current and potential customers? Describe the important identifying characteristics of the firms current and potential customers: Demographic Geographic Psychographic Product usage Identify the important players in the purchase process for the firms 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 firms products? Where do customers purchase the firms products? Identify any trends in purchase patterns across these outlets (e. g. , how e-commerce has, or could, change the way the firms products are purchased). When do customers purchase the firms products? Factors under the firms control Factors not under the firms control Why (and how) do customers select the firms products? Describe the basic benefits provided by the firms products relative to competing products: Describe the degree to which customers needs are being fulfilled by the firms 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 firms products? After answering these seven questions, then you can look at segmentation and positioning analysis (see p. 267 for positioning analysis and positioning maps). D. Competitive Analysis (pp. 121-12,; 295, 387) Identify the firms major competitors (brand, product, generic) Identify the characteristics of the firms major competitors: List any potential (future) competitors not identified in the preceding.