STP: Step 5 - Develop Positioning Strategy
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- Positioning methods: using 4 P's develop value proposition
STP: Step 1 - Establish Overall Strategy or Objectives
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Derive from mission and current state (start looking at target markets)
What are 4 ways to consolidate?
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1. Harvesting
2. Divestment
3. Pruning
4. Retrenchment
Macro Environment: Political and Legal factors
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Law and regulations protect:
- Competition
- Consumers
What factors influence the Consumer Decision Process?
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, 1. Marketing mix (4 P's)
2. Psychological factors (motives, attitudes, perceptions, learning, lifestyle,
demographics)
3. Situational factors (purchase situation, shopping situation, temporal
state)
4. Social factors (family, reference groups, culture)
BCG Matrix: Star
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↑ market growth rate, ↑ relative market share (invest and grow)
BCG Matrix: Dog
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↓ market growth rate, ↓ relative market share (drop-consolidate)
High involvement purchases
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, - Important to customer
- Risk is present
- Consumer spends effort (product decision) and time purchasing
- Consumers see substantial differences btwn alternatives
- Process used is extensive
- e.g. house, car, laptop
Locus of Control
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1. Internal locus of control = engage in more search activities (your choices
affect your outcome so more effort/time)
2. External locus of control = fate, external factors (let things happen to
you)
What are the 4 growth strategies?
Give this one a try later!
Give this one a try later!
- Positioning methods: using 4 P's develop value proposition
STP: Step 1 - Establish Overall Strategy or Objectives
Give this one a try later!
Derive from mission and current state (start looking at target markets)
What are 4 ways to consolidate?
,Give this one a try later!
1. Harvesting
2. Divestment
3. Pruning
4. Retrenchment
Macro Environment: Political and Legal factors
Give this one a try later!
Law and regulations protect:
- Competition
- Consumers
What factors influence the Consumer Decision Process?
Give this one a try later!
, 1. Marketing mix (4 P's)
2. Psychological factors (motives, attitudes, perceptions, learning, lifestyle,
demographics)
3. Situational factors (purchase situation, shopping situation, temporal
state)
4. Social factors (family, reference groups, culture)
BCG Matrix: Star
Give this one a try later!
↑ market growth rate, ↑ relative market share (invest and grow)
BCG Matrix: Dog
Give this one a try later!
↓ market growth rate, ↓ relative market share (drop-consolidate)
High involvement purchases
Give this one a try later!
, - Important to customer
- Risk is present
- Consumer spends effort (product decision) and time purchasing
- Consumers see substantial differences btwn alternatives
- Process used is extensive
- e.g. house, car, laptop
Locus of Control
Give this one a try later!
1. Internal locus of control = engage in more search activities (your choices
affect your outcome so more effort/time)
2. External locus of control = fate, external factors (let things happen to
you)
What are the 4 growth strategies?
Give this one a try later!
