Strategic Marketing Class Recap: Day 2

Dear fellow learners,

By now you should be ready to undertake an analysis of external and internal environments - the first step to any strategic management process. 

Below is the topic outline that is due on Sunday, 26 January 2014, 12MN 11:30 p.m. or before midnight strikes. This should be prepared in a Google Doc/Google Drive document. All members of your group should have editing access to the document, including me. I will track your progress online and will give feedback as soon as I can. To better understand how Google Drive/ Google Doc works, you may view the tutorial video below, or click here for Part 1 (Introduction) and here for Part 2 (Composing Google Docs). Your group's output shall serve as your midterm examination.

Below is the topical outline and writing guide.

ANALYSIS OF EXTERNAL AND INTERNAL ENVIRONMENTS

I.                 

          Market Situation & Analysis

External Audit or analysis of the macro-environment.

Issues which may have an indirect effect on your company. Some of the most significant opportunities and threats for the business may be found through analysis of changes and trends in the macro environment.

Tools: PEST: Political, Economic, Social & Technological; may include other factors such as Ecological, Legal/Regulatory, Cultural depending on the market that your company serves.

II.              

          Competitive Environment & Market Analysis

Audit of the industry and market environment.

Evaluation of the competitive environment in order to develop and sustain competitive advantage for the business. This section should identify where the main current competition stems from and where it may come from in the future. In addition, this section looks at likely actions from competitors in reaction to moves your business may take.

Tools: Porter’s 5 Forces

III.      

          Situation Analysis

Audit or analysis of the firm’s internal environment.

Process of internal appraisal, examining elements of the business and their effect on the organisation. This should include appraisal of all functions of the business and also includes the profit-making potential of the company and the facility to exploit identified opportunities.

Tools: SWOT, Value Chain Analysis, Sources of Competitive Advantage, BCG 

Send me a message on Twitter or Google+ if you have questions/ clarifications. We can also have a Google Hangout if you wish to have a live online consultation. Just let me know in advance.

Good luck!

PS. The presentation materials used in our last lecture can now be accessed in Google Drive or by clicking this link. I divided the slides into 3 parts.