Learning Objectives Chapter 5: Analyzing Marketing Opportunities

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Learning Objectives Chapter 5: Analyzing Marketing Opportunities. Define the terms situation, market, and feasibility analysis. Explain the relationship and differences between situation, market, and feasibility analysis. Explain the five benefits of doing a situation analysis.
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Learning Objectives Chapter 5: Analyzing Marketing Opportunities
  • Define the terms situation, market, and feasibility analysis.
  • Explain the relationship and differences between situation, market, and feasibility analysis.
  • Explain the five benefits of doing a situation analysis.
  • List in order and describe the steps in a situation analysis.
  • Learning Objectives Chapter 5: Analyzing Marketing Opportunities
  • List in order and describe the six major steps in a market analysis.
  • List and describe the four additional steps in a feasibility analysis.
  • Situation AnalysisA study of the marketing strengths, weaknesses, and opportunities of an existing business or other type of organization.Market Analysis and Feasibility Analysis
  • Market Analysis
  • A study of the potential demand for a new hospitality or travel business. It determines if market demand is large enough.
  • Feasibility Analysis
  • A study of the potential demand and economic feasibility of a business; it includes a market analysis and a few additional steps.Relationship of Situation, Market and Feasibility Analyses
  • The relationship among these three techniques is chronological (time).
  • The situation analysis should build upon the findings of the market or feasibility analysis.
  • Each situation analysis should build upon the previous year’s situation analysis.
  • Three Analysis Techniques are Related over TimeSituation Analysis #3Situation Analysis #2Situation Analysis #1Market or Feasibility AnalysisTimeDifference between a Situation, and a Market or Feasibility Analysis
  • A situation analysis determines the strengths and weaknesses of an existing organization or business.
  • A market or feasibility analysis investigates a proposed new business and its market potential and economic feasibility.
  • Difference between a Situation, and a Market or Feasibility Analysis
  • Situation and market analysis have same steps, but in a different order.
  • Market and feasibility analysis have the same first six steps, but the feasibility analysis involves four additional steps.
  • Benefits of Doing a Situation Analysis
  • Focuses attention on strengths and weaknesses.
  • Assists with long-term planning.
  • Helps in the development of marketing plans.
  • Puts a priority on marketing research.
  • Has spin-off benefits.
  • Steps in a Situation Analysis
  • Marketing environment analysis
  • Location and community analysis
  • Primary competitor analysis
  • Market potential analysis
  • Services analysis
  • Marketing position and plan analysis
  • Steps in a Market Analysis
  • Marketing environment analysis
  • Market potential analysis
  • Primary competitor analysis
  • Location and community analysis
  • Services analysis
  • Marketing position and plan analysis
  • SITUATION ANALYSISMarketing environmentLocation and communityPrimary competitorMarket potentialServicesMarketing position/planMARKET ANALYSISMarketing environmentMarket potentialPrimary competitorLocation and communityServicesMarketing position/planDifference between Situation and Market AnalysisFour Additional Steps in a Feasibility AnalysisThe six steps in a market analysis plus:
  • Pricing analysis
  • Income and expense analysis
  • Development cost analysis
  • Analysis of return on investment and economic feasibility
  • Related Search
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