Week 5 Consumer Behaviour F14
Chapter 5
Consumer
Behaviour
Week 5
Ajax Persaud
Shirley Lichti
Winter
2014
Dhruv Grewal Michael Levy
Copyright © 2012 McGraw-Hill Ryerson Limited
Any interesting marketing?
Consumer research article http://strategyonline.ca/2014/09/30/is-it-snacktime-yet/ Marketing Mag now free online at http://www.marketingmag.ca/magazinearchives/marketing-magazine 5-2
Agenda
• Review of SWOT- Case
• Consumer decision process and factors affecting consumer behavior
• Consumer profile – be able to write one
5-3
Making S.W.O.T. Analysis Productive
• Separate Internal Issues from External Issues
– If an issue would exist even if the firm did not exist, classify it an External Issue.
– NOTE: Marketing options/strategies/tactics are
NOT the same as “Opportunities” in a SWOT
Analysis
– Opportunities exist outside the company
5-4
Identifying / Maintaining
A Competitive Advantage
• SWOT Matrix analysis identifies strengths compatible with opportunities
– Turn these into capabilities
• Capabilities that allow us to meet customer needs better than competition are known as
“Competitive Advantage”
• Customer perceptions can be even more important than reality
5-5
The S.W.O.T. Matrix:
Identifying Actions to Take
Weaknesses
Minimize/ Avoid
Opportunities
Convert
Convert
Strengths
Threats
Minimize/ Avoid
5-6
Identifying Actions to Take
Opportunities
Strengths
Weaknesses
Minimize/ Avoid
Convert
Convert
Match
Threats
Minimize/ Avoid
5-7
Sources of Competitive Advantage
•
•
•
•
•
•
•
•
Loyal customers
Patents and trademarks
Supplier partnerships
Brand equity
Superior service
Highest quality
Lower costs - lower prices
R& D - innovative products
5-8
Conducting the Situation Analysis
• Internal environment – Corporate overview and mission. SBU Category - what are the current product (or Category ) objectives, strategies, promo activity and performance?
• External environment – what social trends, economic, legal or environmental factors might impact the category
Consumer
Behaviour
Week 5
Ajax Persaud
Shirley Lichti
Winter
2014
Dhruv Grewal Michael Levy
Copyright © 2012 McGraw-Hill Ryerson Limited
Any interesting marketing?
Consumer research article http://strategyonline.ca/2014/09/30/is-it-snacktime-yet/ Marketing Mag now free online at http://www.marketingmag.ca/magazinearchives/marketing-magazine 5-2
Agenda
• Review of SWOT- Case
• Consumer decision process and factors affecting consumer behavior
• Consumer profile – be able to write one
5-3
Making S.W.O.T. Analysis Productive
• Separate Internal Issues from External Issues
– If an issue would exist even if the firm did not exist, classify it an External Issue.
– NOTE: Marketing options/strategies/tactics are
NOT the same as “Opportunities” in a SWOT
Analysis
– Opportunities exist outside the company
5-4
Identifying / Maintaining
A Competitive Advantage
• SWOT Matrix analysis identifies strengths compatible with opportunities
– Turn these into capabilities
• Capabilities that allow us to meet customer needs better than competition are known as
“Competitive Advantage”
• Customer perceptions can be even more important than reality
5-5
The S.W.O.T. Matrix:
Identifying Actions to Take
Weaknesses
Minimize/ Avoid
Opportunities
Convert
Convert
Strengths
Threats
Minimize/ Avoid
5-6
Identifying Actions to Take
Opportunities
Strengths
Weaknesses
Minimize/ Avoid
Convert
Convert
Match
Threats
Minimize/ Avoid
5-7
Sources of Competitive Advantage
•
•
•
•
•
•
•
•
Loyal customers
Patents and trademarks
Supplier partnerships
Brand equity
Superior service
Highest quality
Lower costs - lower prices
R& D - innovative products
5-8
Conducting the Situation Analysis
• Internal environment – Corporate overview and mission. SBU Category - what are the current product (or Category ) objectives, strategies, promo activity and performance?
• External environment – what social trends, economic, legal or environmental factors might impact the category