Task Details:
Company - MYER
Situation Analysis Report & Presentation
The task is now to develop a situation analysis & SM plan for the enterprise or organisation that you selected for the project.
In formulating the situation analysis & report:
1. An executive summary of the report's findings and recommendation for key areas for the SM marketing plan
2. An introduction - provide a brief introduction/overview of your enterprise or organisation, the aims of the report and the structure of the report. Structural components such as: A Table of Contents, Table of Figures & Tables, Reference List, Appendices (where appropriate) referenced according to Harvard referencing requirements
3. Internal Environment analysis
- Company background and history, description of the enterprise or organisation based on any feedback received from your project brief, mission statement, corporate objectives, (where these are available), brand identity, product or service portfolio overview; and the scope of the marketing plan - all this information is from your project brief and should take into account any feedback you have received for corrections, etc.
- Internal resources assessment - Human Resources, Financial, Management and Operational capabilities that will support (or hinder) your marketing activities. Assess the internal resources (financial, human and operational) of the company and current or future strengths and weaknesses. Information must be current and accurate to ensure the final draft is feasible.
Overview of current (or previous) marketing mix strategies (4Ps) - consider everything from yellow pages activity; use of corporate logo on stationery and uniforms; internet activity; traditional marketing communications (TV, radio, etc.); product range; pricing; and distribution activities. Look for strengths and weaknesses.
4. External Environment analysis
- This is the PESTEL analysis - includes a focussed discussion of the economic, legal, political, technological, social/cultural issues (trends) and natural environments associated with the company's market environments. Consider shifts in market activity and identify possible current or future opportunities or threats.
5. A detailed customer analysis
- Include target market segmentation (demographics, psychographics, and so forth). Look at the basis of transactions and exchanges with the firm. Who buys, where, when and how, what is bought, to what level, and reasons for purchase. Do purchases relate to discretionary spending or not? Identify any opportunities or threats such as changes in customer demographics, etc.
6. A detailed competitor analysis
- Identify local, direct and indirect competition. Determine relative (or estimated) market share for your principal competitors. Identify the basis of competition. Develop a matrix where possible to compare the features and benefits of products/product lines between your selected entity and at least 3 primary (main) competitors. Again, identify any opportunities or threats such as changes in competitors, new competition, changes in market share, etc.
7. A SWOT analysis - briefly and concisely summarise the strengths and weaknesses from within the company and any opportunities and threats from the external environment, competitor and customer analyses.
- Analysis of the organisations ethical & CSR programs
8. A product (or brand or company) lifecycle analysis (PLC).
- A BCG matrix showing product position relative to competition. While the BCG matrix is usually for SBU portfolio analysis, in this case conduct an analysis of your company product(s) or brand(s).
- An Ansoff analysis
- A set of at least 3 principal marketing objectives (based on your strategic analysis of the enterprise's position from the outcomes of the PLC, the BCG and the Ansoff analysis and considering the enterprise's corporate mission and objectives (where these have been identified).
- Develop a brand positioning strategy. Discuss whether you will develop a brand identity for an
individual product or product portfolio or whether you will use family umbrella branding strategy. Develop a brand positioning map.
- Develop a minimum of 4 strategies based on your objectives. Each strategy should identify a target market segment and a customised marketing mix for that segment.
- Develop a framework of marketing metrics for your strategies - determine how you will measure success of your strategies and control the outcomes to ensure you reach your objectives.
9. Conclusion
10. Reference Lists
11. Any appendices.
Referencing Style: Harvard