University of Greenwich Graduate Internship Programme Welcome Jerry Allen th
Monday 5 November •
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AdministraAon IntroducAon unAl 12.30 12.30-­‐1.30 lunch 1.30-­‐4.30 CompeAtor Analysis AdministraAon •
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Passport/ID card P46 Bank details NI No. SelecAon of themes Project themes •
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Market research analysis Social Media MarkeAng Customer service evaluaAon Public sector •  Show of hands Overview •  5 preparatory days – Mondays –  5/11 CompeAtor Analysis –  12/11 Market Research & Data Analysis –  19/11 Social Media MarkeAng –  26/11 PresentaAon & CommunicaAon –  3/12 & Interview techniques & Report WriAng •  4 weeks employer internship work experience What it is…. Benefits •
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Relevant experience Enhance CV Reference/tesAmonial h\p://youtu.be/lpi1yc_50EY?t=54s And what it’s not…. •  Promise of a job, •  A perfect soluAon •  but…. Graduate level internship •
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Graduate level skills PreparaAon January work experience/internship Employability h\p://youtu.be/gtOUehnutkA What makes you employable? Employability Interview skills h\p://youtu.be/6U7kLrWZU-­‐c Graduate level skills h\p://www.youtube.com/watch?
v=bv75Y6suUhs&feature=share&list=PLpXclm
WsIEgm-­‐4GbuAOSs_AwhGo0RdPtx •  PresentaAon & communicaAon skills •  h\p://youtu.be/gVQBWudcIeg •
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QuesAons ? Strategic Analysis of the Environment Prof Chris Birch birch.greenwich@gmail.com CompeAAve Environment Bargaining
Power of
buyers
THREAT of
substitutes
Bargaining
Power of
suppliers
THREAT of
new entrants
Porter's 5 Forces analysis deals with factors outside an industry that influence the nature of compeAAon within it, the forces inside the industry (microenvironment) that influence the way in which firms compete, and so the industry’s likely profitability is conducted in Porter’s five forces model. A business has to understand the dynamics of its industries and markets in order to compete effec?vely in the marketplace. Porter (1980a) defined the forces which drive compeAAon, contending that the compe??ve environment is created by the interac?on of five different forces ac?ng on a business. In addiAon to rivalry among exisAng firms and the threat of new entrants into the market, there are also the forces of supplier power, the power of the buyers, and the threat of subsAtute products or services. Porter suggested that the intensity of compeAAon is determined by the relaAve strengths of these forces. Main Aspects of Porter’s Five Forces Analysis The original compeAAve forces model, as proposed by Porter, idenAfied five forces which would impact on an organizaAon’s behaviour in a compeAAve market. These include the following: • The rivalry between exisAng sellers in the market. • The power exerted by the customers in the market. • The impact of the suppliers on the sellers. • The potenAal threat of new sellers entering the market. • The threat of subsAtute products becoming available in the market. Considerations of Porter’s theory
It is important to be aware that this model has further limitaAons in today's market environment; as it assumes relaAvely staAc market structures. Based originally on the economic situaAon in the eighAes with its strong compeAAon and relaAvely stable market structures, it is not able to take into account new business models and the dynamism of the industries, such as technological innovaAons and dynamic market entrants from start-­‐ups that will completely change business models within short Ames. For instance, the computer and sotware industry is oten considered as being highly compeAAve. The industry structure is constantly being revoluAonized by innovaAon that indicates Five Forces model being of limited value since it represents no more than snapshots of a moving picture. Therefore, it is not advisable to develop a strategy solely on the basis of Porter’s models (Kippenberger, 1998; Haberberg and Rieple, 2001), but to examine it in addi?on to other strategic frameworks of SWOT and PEST analysis. h\p://university-­‐essays.tripod.com/porters_5_forces_analysis.html Porter’s 5 Forces useful web-­‐based reading h\p://en.wikipedia.org/wiki/Porter_five_forces_analysis h\p://www.quickmba.com/strategy/porter.shtml h\p://www.coursework4you.co.uk/essays-­‐and-­‐dissertaAons/porter-­‐5-­‐forces.php h\p://www.markeAngteacher.com/lesson-­‐store/lesson-­‐five-­‐forces.html h\p://www.ifm.eng.cam.ac.uk/dstools/paradigm/5force.html h\p://www.themanager.org/pdf/p5f.pdf h\p://university-­‐essays.tripod.com/porters_5_forces_analysis.html Strategic Analysis of the External Environment PEESTLE Prof Chris Birch birch.greenwich@gmail.com PEESTL analysis P – PoliAcal E – Economic E – Ecological S – Social T – Technological L -­‐ Legal •
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Defini?on of environmental analysis (business dic?onary.com) EvaluaAon of the possible or probable effects of external forces and condiAons on an organizaAon's survival and growth strategies. h\p://www.markeAng-­‐intelligence.co.uk/help/Q&A/quesAon14.htm h\p://www.1000ventures.com/business_guide/
mgmt_strategic_environmental_analysis.html All businesses and organisaAons operate in a changing world and are subject to forces which are more powerful than they are, and which are beyond their control. No business can survive without con?nued interac?on with the external environment, just as a ship at sea is subject to powerful natural forces of which it needs to be aware and deal with, organisaAons are influenced by forces in their external business environment. Any business strategy needs to take account of all these forces so that opportuniAes and threats can be idenAfied and the organisaAon can navigate its way to success by matching its internal strengths to external opportuniAes. h\p://wiki.answers.com/Q/
External_business_environment_analysis#ixzz1CXjIH32n Strategic Analysis of the Environment SWOT Prof Chris Birch birch.greenwich@gmail.com Reading that has been sent ... •  h\p://www.quickmba.com/strategy/global/ •  h\p://tutor2u.net/business/strategy/global-­‐business-­‐global-­‐strategy.html •  InternaAonal Journal of Management Reviews Volume 11 Issue 1 pp. 51–
68 -­‐ Current debates in global strategy -­‐ Mike W. Peng and Erin G. Pleggenkuhle-­‐Miles •  h\p://www.quickmba.com/strategy/swot/ •  h\p://www.cipd.co.uk/subjects/corpstrtgy/general/swot-­‐analysis.htm •  h\p://tutor2u.net/business/strategy/SWOT_analysis.htm SWOT analysis •
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S – Strengths W – Weaknesses O – OpportuniAes T -­‐ Threats S
W
O
T
SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, OpportuniAes, and Threats involved in a project or in a business venture. It involves specifying the objecAve of the business venture or project and idenAfying the internal and external factors that are favourable and unfavourable to achieve that objecAve. Strategic
EFFECTIVE
INEFFECTIVE
INEFFICIENT
Operational
Doing things right
EFFICIENT
Doing the right thing
Thrive
Die Slow
Survive
Die Quick
Strategic Marke?ng Analysis Ansoff/PLC/BCG Prof Chris Birch birch.greenwich@gmail.com Web-based reading from last week
Price elas?city of demand h\p://tutor2u.net/economics/revision-­‐notes/as-­‐markets-­‐price-­‐elasAcity-­‐of-­‐
demand.html h\p://www.quickmba.com/econ/micro/elas/ped.shtml h\p://en.wikipedia.org/wiki/Price_elasAcity_of_demand Factors of Produc?on h\p://en.wikipedia.org/wiki/Factors_of_producAon h\p://tutor2u.net/economics/content/topics/introducAon/factor.htm h\p://www.theAmes100.co.uk/theory/theory-­‐-­‐factors-­‐producAon-­‐-­‐135.php Josef Schumpeter h\p://en.wikipedia.org/wiki/Joseph_Schumpeter h\p://www.econlib.org/library/Enc/bios/Schumpeter.html h\p://transcripAons.english.ucsb.edu/archive/courses/liu/english25/materials/
schumpeter.html Product Life Cycle
PLC extension
Boston Marketing Matrix
Ansoff Marketing Matrix
Web-based reading for this week
h\p://tutor2u.net/business/strategy/ansoff_matrix.htm h\p://www.ansoffmatrix.com/ h\p://en.wikipedia.org/wiki/DiversificaAon_(markeAng_strategy) h\p://www.businessdicAonary.com/definiAon/Ansoff-­‐matrix.html h\p://www.quickmba.com/strategy/matrix/bcg/ h\p://www.markeAngteacher.com/lesson-­‐store/lesson-­‐boston-­‐matrix.html h\p://en.wikipedia.org/wiki/Growth-­‐share_matrix h\p://www.netmba.com/strategy/matrix/bcg/ h\p://www.youtube.com/watch?v=qN2B1waB7HE h\p://www.youtube.com/watch?v=QR4QnMUybR0 Ansoff BCG
h\p://www.quickmba.com/strategy/matrix/ansoff/ Marke?ng Planning Prof Chris Birch Business and Enterprise EducaAon birch.greenwich@gmail.com SW Template - example
Strengths Weaknesses • Advantages of proposiAon? • Disadvantages of proposiAon? • CapabiliAes? • Gaps in capabiliAes? • CompeAAve advantages? • Lack of compeAAve strength? • USP's (unique selling points)? • ReputaAon, presence and reach? • Financials? • Resources, Assets, People? • Experience, knowledge, data? • Own known vulnerabiliAes? • Financial reserves, likely returns? • Timescales, deadlines and pressures? • MarkeAng -­‐ reach, distribuAon, awareness? • Cashflow, start-­‐up cash-­‐drain? • InnovaAve aspects? • ConAnuity, supply chain robustness? • Effects on core acAviAes, distracAon? • LocaAon and geographical? • Price, value, quality? • Reliability of data, plan predictability? • AccreditaAons, qualificaAons, • Morale, commitment, leadership? cerAficaAons? • AccreditaAons, etc? • Processes, systems, IT, communicaAons? • Processes and systems, etc? • Cultural, axtudinal, behavioural? • Management cover, succession? • Management cover, succession? OT Template - example
Opportuni?es • Market developments? • CompeAtors' vulnerabiliAes? • Industry or lifestyle trends? • Technology development and innovaAon? • Global influences? • New markets, verAcal, horizontal? • Niche target markets? • Geographical, export, import? • New USP's? • TacAcs -­‐ surprise, major contracts, etc? • Business and product development? • InformaAon and research? • Partnerships, agencies, distribuAon? • Volumes, producAon, economies? • Seasonal, weather, fashion influences? Threats • PoliAcal effects? • LegislaAve effects? • Environmental effects? • IT developments? • CompeAtor intenAons -­‐ various? • Market demand? • New technologies, services, ideas? • Vital contracts and partners? • Sustaining internal capabiliAes? • Obstacles faced? • Insurmountable weaknesses? • Loss of key staff? • Sustainable financial backing? • Economy -­‐ home, abroad? • Seasonality, weather effects? PE Template - example
Poli?cal Economic • ecological/environmental issues • current legislaAon home market • future legislaAon • internaAonal legislaAon • regulatory bodies and processes • government policies • government term and change • trading policies • funding, grants and iniAaAves • home market lobbying/pressure groups • internaAonal pressure groups • wars and conflicts • home economy situaAon • home economy trends • overseas economies and trends • general taxaAon issues • taxaAon specific to product/services • seasonality/weather issues • market and trade cycles • specific industry factors • market routes and distribuAon trends • customer/end-­‐user drivers • interest and exchange rates • internaAonal trade/monetary issues ST Template - example
Social Technological • lifestyle trends • demographics • consumer axtudes and opinions • media views • law changes affecAng social factors • brand, company, technology image • consumer buying pa\erns • fashion and role models • major events and influences • buying access and trends • ethnic/religious factors • adverAsing and publicity • ethical issues • compeAng technology development • research funding • associated/dependent technologies • replacement technology/soluAons • maturity of technology • manufacturing maturity and capacity • informaAon and communicaAons • consumer buying mechanisms/technology • technology legislaAon • innovaAon potenAal • technology access, licencing, patents • intellectual property issues • global communicaAons EL Template - example
Environmental Legal • Global policy • Global pressure • Scarcity • Sustainability • Health and wellbeing • Costs of ecological destrucAon • Risks of ecological destrucAon • Societal axtudes • Brand impact • RegulaAon and Compliance • NaAonal legal drivers • Global legal drivers • Influence of Pressure groups • Risk of neglect • Brand damage from adverse legal case • Personal legal liability for Board Porter’s 5 force analysis
a 6th force? – the threat of doing nothing?
Porter’s 5 forces references •  h\p://www.coursework4you.co.uk/essays-­‐and-­‐dissertaAons/porter-­‐5-­‐
forces.php •  h\p://www.quickmba.com/strategy/porter.shtml •  h\p://www.businessballs.com/portersfiveforcesofcompeAAon.htm Porter’s five generic descrip?ons of industries: Fragmented (Agriculture / ConstrucAon) Emerging (Renewable energy) Mature (AutomoAve / Television) Declining (Film processing) Global (Sotware, IT soluAons) Eg. h\p://planningskills.com/glossary/186.php Make short notes on each of the above and think about their implications in
regards to marketing planning
Boston Marketing Matrix
Ansoff Marketing Matrix
Ge_ng your evidence Prof Chris Birch birch.greenwich@gmail.com Data / Informa?on •  Primary sources •  Secondary sources –  Mintel –  Web-­‐based –  Trade Reports –  Government Reports •  QualitaAve data •  QuanAtaAve data Your marketing mix
Traditional
Product Price Place PromoAon Services
Process Physical resources People New?
ParAcipaAon PercepAon PersonalisaAon Segmenta?on, Targe?ng and Posi?oning (STP) Core principle – you can’t sell everything to everyone!
So, you have to SEGMENT the market ... Into common Groups (?) by geography -­‐ locaAon by psychographics – lifestyle / aspiraAon by socio-­‐cultural factors – social class, religion, ethnicity, educaAon by demography -­‐ age, gender by behaviours – usage rate, price sensiAvity, brand loyalty by benefits – features, funcAonality Targeting is FOCUS within the segment – can cross-cut
Positioning takes account of your COMPETITORS – YOUR USP???
Context
Collect
Evaluate
the value of data
Collate
Action
Process
Analyse
Data Base Management
Data purging
GIGO
Data review
Data planning
Pro-active v Re-active
Data updating
Data renew
Data deteriorates