To get a better understanding about this, please start reading from the first post of the series.
THESIS: The Marketing Communication Strategy of Blue Bird Taxi To Maintain Market Leader Position After Using The Highest Tariff:
- Introduction & Book Cover : Part 1
- Research Originality Statement and Acknowledgement : Part 2
- Abstract : Part 3
- Table of Contents : Part 4
- Chapter I : part 5, part 6, part 7
- Chapter II : part 8, part 9, part 10, part 11, part 12, part 13, part 14, part 15
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(Chapter II continued...)
Step 2: Analyzing SWOTs
A SWOT or strength-weakness-opportunities-threat analysis is a structured evaluation of internal situations (strength and weakness) and external situations (opportunities and threat) that can help and hurt a brand. In this case the SWOT analysis is restricted to the communications and brand characteristics that are encountered. Other SWOT elements found in the marketing planning level can become irrelevant. (Ouwersloot & Duncan, 2007:125-128)
Strengths are competitive advantages,
weakness are competitive disadvantages. Strength should be leveraged and weakness
fixed. Company can make changes in the product, price, place, promotion that
will in turn affect the customer’s perception. This includes how the customer
perceive brands innovativeness, convenience of the distribution, pricing
compared to competition, expertise of sales force, condition of physical
facilities, overall financial strength, brand image, brand positioning,
corporate culture, and core values.
The mixture of opportunities and threat are external factors that companies must live with. Threats are marketplace conditions that reduce the perceived value or attractiveness of a brand or that result in its being more costly to make or provide. Changes in the media landscape can also be a threat both on the consumer (e.g. people spend less time reading) or supply side (e.g. the explosion of television channels consumers can choose from). Opportunities are social and economic conditions and situations in the marketplace that can positively alter customer’s attitudes about and behavior toward a brand or its communication.
SWOT needs to be analyzed after it has been identified. This includes the following aspects:
2.9.
Marketing
Communication Strategy Planning
2.9.1
Strategic
Planning Process
Marketing
communication (MC) strategy cannot exist in isolation from marketing strategy
which in turn is directly linked to corporate strategy. The simple strong
relationship between the three levels of strategy is shown in Table 2.2. (Smith
et al., 1999:97)
Figure 2.2.
Three Levels of
Strategy
Source: P.R. Smith et al (1999)
Planning can be
carried out using a top-down or bottom-up approach, or preferably using a
mixture of the process at each of the three levels. In all situations MC must
be developed with an awareness of its fit within the overall strategic planning
framework.
2.9.2.
Marketing
Communication Strategy Planning
Ouwersloot & Duncan
(2007:124-128) suggests the Zero-based planning for MC. The “zero” means that
planning starts with no preconceived notions about what MC functions and media
are needed. This makes sense because competitors and distribution channels are
constantly changing, as are customer’s wants and needs. This planning system has a six step process and is applicable to business-to-consumer
and business-to-business companies, and to companies of every size.
Figure 2.3.
The Zero-based Planning Process
Step 1: Identifying Target Audiences
Both B2C and B2B companies, segment
customers into groups based on certain characteristics and the likelihood that
group members will buy the product, then companies target messages specifically
to these key audiences. Targeting focuses the MC effort on:- Current customers most likely to repurchase or influence purchases
- Customer and prospects that needs special attention (less purchasing, customer service problem, have not yet purchase)
- Prospects that have never bought the brand but might buy it.
A SWOT or strength-weakness-opportunities-threat analysis is a structured evaluation of internal situations (strength and weakness) and external situations (opportunities and threat) that can help and hurt a brand. In this case the SWOT analysis is restricted to the communications and brand characteristics that are encountered. Other SWOT elements found in the marketing planning level can become irrelevant. (Ouwersloot & Duncan, 2007:125-128)
The mixture of opportunities and threat are external factors that companies must live with. Threats are marketplace conditions that reduce the perceived value or attractiveness of a brand or that result in its being more costly to make or provide. Changes in the media landscape can also be a threat both on the consumer (e.g. people spend less time reading) or supply side (e.g. the explosion of television channels consumers can choose from). Opportunities are social and economic conditions and situations in the marketplace that can positively alter customer’s attitudes about and behavior toward a brand or its communication.
SWOT needs to be analyzed after it has been identified. This includes the following aspects:
- Realistic Damage to brand relationship and brand equity if a weakness or threat is not addressed
- Realistic Benefit if a strength or opportunity is used to its full potential
- Cost of leveraging each SWOT
- Time Frame in which the company has to address or leverage each SWOT
