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Marketing/Marketing management
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Expert: Leo Lingham - 10/7/2009
Question
Sir could you please answer the following two questions for me? I need your help in answering these. PLease reply me as soon as possible.
1. Marketing management an artistic exercise and therefore highly subjective versus marketing management is largely a scientific excercise with well established guidelines and criteria
2. How does cause or corporate societal marketing affect consumer 's personal behavior? Clarify in context to the products and services you are using or planning to purchase.
Answer
SARA,
HERE IS SOME
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• What is the threat from potential entrants?
• What is the bargaining power of suppliers?
• What is the bargaining power of buyers?
• How difficult is selling into these accounts or segments?
3. PRICE
• What are the value added components for various types of competitors?
4. DISTRIBUTION
• What are the alternative ways of servicing this segment or account?
5. TRENDS
• What are the trends in this segment/customer?
6. KEY SUCCESS FACTORS
• What are the key success factors needed to compete successfully?
Environmental Analysis
1. TECHNOLOGY
•What technological development or trends are affecting or could affect the segment/customer? •To what extent are existing technologies maturing?
2. GOVERNMENT
•What changes in regulations are possible?
•What will their impact be?
3. ECONOMICS
•What are economic prospects and inflation in which the segment/customer operates? •How will they affect strategy?
4. GENERAL TRENDS
•What are the significant trends/future events?
•What threats and opportunities do you see?
•What are the areas of uncertainty?
•What is the impact of these on your strategy?
Internal Analysis
1. Performance Analysis
• Sales
• Profitability
• Product Quality
• Customer Satisfaction
• Cost
• Product Performance
2. Determinants of Strategic Options
• Past Strategy
• Current Strategy
• Strategic Problems
• Organisational capabilities
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These activities could be done differently, in that they could use traditional fast-food prep methods or even make the food behind walls in the kitchen. However, this would change the customer experience and somewhat diminish their brand. Customers wouldn't have the sense of comfort seeing the food being prepared openly, and maybe question their quality as being comparable to that of fast food (Taco Bell). They could also change their ordering process, where customers would order and pay in one step rather then move down a line. However, in this system customers would be less involved in the process, and may feel like they are waiting around for their food. I wouldn't recommend making any of these changes to Chipotle's main activities. Being able to see everything going on and the quick and efficient order fulfilling process is what makes Chipotle strategy the gold standard for fast food chains.
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