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Situation "where are we now"
1) Marketing Environment
2) Market Opportunity
3) Organization's resources
Market
§ Who are the customers?
§ Who are the competitors?
§ Why is our product purchased?
§ How is the product purchased?
§ Where are our customers located?
§ Etc?
Economic
§ Analyze demand: How much will customer buy at different prices during a given period of time? We need to recommend pricing strategies that may/may not result in high margins, but will result in long-term growth.
Ø Determinants of demand: 1) Needs and wants of buyers
2) Customers ability to buy
3) Customers Willingness to buy
§ Competition
Ø Assess the intensity of competition and the form ? i.e. price or non-price (product differentiation, promotion, or channel strategy) Assume that the proposed products will be cost effective and have high margins.
§ Research other System Management consulting firms for competitive information to determine product gaps or possible product extensions for existing products.
§ Identify possible strategic partnerships and potential brand enhancement.
Market Opportunity
§ Build upon their solid brand name and solid customer equity.
§ Identify needs of customers and potential customers
§ What basic needs do our products or services satisfy?
§ & ...