- Created by: Howwise
- Created on: 13-02-20 08:06
Part A - Research - Competitors
- Who are the competitors in the market?
- What do they do?(what are their activities: simialrities/differences)
- Where do they Operate from( place of operation )
- How do they Operate( labour intensity, capital intensity, inhouse/ outsourced)
Part A - Research-Market Size, Share and Structure
- Is it a mass or a niche market?
- What is the Market Structure - (Perfect Competition; Oligopoly; Monopoly: Monopolistic)
- What is the size of the market(Micro, Small, Medium and Large)
- What is the Market Share ( sales/revenue/turnover/profit/branches/workers/volume(tonnes)
- How is the market Segmented(Age/Gender/Income/Buying Habits/Socio-economic groups/ Ethnic,Cultural and Religious Background)
The Structure will reflect the amount of competition and potential pricing methods available
Market Size will determine the value of the markets and the number of competitors who are activie or dominate the market.
Part A - Research - Target Market
Who are the competitors Targeting - (Gender/Income/Ethnic, Cultural and Religious Background/ Consumer Behaviour/ Occupation/ Education/ Age)
Is there a Gap in the Market
Part A - Research - Trends
What is happening in the market as a whole.
Compare the present to the past and get a picture of what the market looks like now.
A primary research is vital for this part.
Has the market changed because of taste/ lifesyle/ income/ enviroment.....
Part A - Research - External Influences.
Strengths - What are the strengths of the business you are creating the campaign for (this will be in the part B)
Weaknesses - What are the weakneses of the business you are creating the campaign for (this will be in the part B)
Opportunities - what are the gaps in the markets- how can the business use their strengths to take advantage of the opportunity.
Political what are the governements policies regarding the market. Could be Tax/ Grants...
Economic- this includes Inflation/ Interest Rates / Health of the Economy/Employment Levels
Social / what are the (Demographics/lifestyl/age groups/education)
Technological advancement/usage in the market( manufacturing techniques/ communication methods)
Legal - what are the laws of the market
Ethics this what is generally/ moraly acceptable or not in the market(working conditions/ pay/ behaviour)
Enviroment what is the effect of the enviroment on the business/market(climate chnage/recycling/polluntion
Part B- Research - Cost
How much have competitors spent on their marketing campaign..
How much will it cost to advertise on different platforms(TV/ Print Media/Youtube/Bill Boards/ Google Add/ Radio ..ect)
Part B- Research - Timescale
How long did competitors advertise for? Research a major Competitor and ascertain how long a particular campaign lasted...
Part B- Research -Media Used
Research a main competitor and certain the various media used for their campiagn ( Youtube/social media)
Part B- Research - Message Communicated
With reference to the competitor what was their main message in the campaign
Part B- Research - Marketing Mix
Research the marketing mix of competitors---
It is important to also conduct a primary research
u Price – Pricing Strategy(Cost-plus pricing, price skimming, competition based pricing, penetration pricing)
u Promotion (Digital Advertising, sponsorship, social media, product placement etc.)
u Product + Product life Cycle
u Place & Distribution(where it can be found)
u People( the quality of employees)
u Physical Environment(is the shop well laid out, can customers easily find what they want. Is the website easy to navigate if it is online)
u Process( customer Service, how the business handles complaint and how they assess customers needs)
Part B- Research - Appropriateness of the campaign
Would you say that the campaign of the competitor is appropraite?
- How long did the campaign last
- Was it suitable for the target market?
- Was ethically appropriate
- Did it meet its aims and objectives? (how did you know? Check profits/ market share around the time the campaign was going on)