SWOT Industry and marketing analysis

Get Started. It's Free
or sign up with your email address
SWOT Industry and marketing analysis by Mind Map: SWOT Industry and marketing analysis

1. Internal

1.1. Strengths

1.2. Weaknesses

1.3. Areas

1.3.1. Skills, Capabilities, and Experience

1.3.1.1. Personal Skills (Your & others)

1.3.1.2. Experience (Your & others)

1.3.1.3. Systems the business has in place

1.3.1.4. The above that competitors have which you do not

1.3.2. Resouces

1.3.2.1. Tangible

1.3.2.1.1. Own

1.3.2.1.2. Not own but have access to

1.3.2.1.3. Current condition of the assets you have? Will any need replacing soon?

1.3.2.2. Intangible

1.3.2.2.1. Right

1.3.2.2.2. Trademark, patent, registered design, copyright

1.3.2.2.3. Network

1.3.2.2.4. Assets, most valuable your competitors do not have

1.3.3. Products and Services

1.3.3.1. Entirely new?

1.3.3.2. How do customers perceive?

1.3.3.3. Different to that of your competition?

1.3.3.4. Differences strengths or weaknesses?

1.4. FiMO xRECoIL

1.4.1. Effectiveness = Performance to Date x Capability to Grow

1.4.2. FImo

1.4.2.1. Finance

1.4.2.1.1. Turnover (Sales value; units sold)

1.4.2.1.2. Gross profit Margin

1.4.2.1.3. Net Profit Margin

1.4.2.1.4. Liquidity Ratios and Cashflow

1.4.2.1.5. Single expense that a high percentage of sales

1.4.2.1.6. Time takes debtors to pay you

1.4.2.1.7. Gearing / Interest cover ratio

1.4.2.1.8. Debt to total assets ratio

1.4.2.2. Marketing

1.4.2.2.1. How effective you are at selling

1.4.2.2.2. Response to new promotions

1.4.2.2.3. Retention rates

1.4.2.2.4. New accounts won

1.4.2.2.5. Repeat business

1.4.2.2.6. New products

1.4.2.2.7. Brand awareness (by competitors and customers)

1.4.2.2.8. Market position

1.4.2.3. Operations & Production

1.4.2.3.1. Output per worker/ machine

1.4.2.3.2. Age of equipment

1.4.2.3.3. Ste-up time

1.4.2.3.4. Down time

1.4.2.3.5. Absenteeism

1.4.2.3.6. Stuff turnover/ traning

1.4.2.3.7. Performance advantage

1.4.3. RECoIL

1.4.3.1. Resources

1.4.3.1.1. Financial

1.4.3.1.2. Physical

1.4.3.1.3. Human

1.4.3.1.4. Intellectual

1.4.3.1.5. Technology

1.4.3.1.6. Flexibility

1.4.3.1.7. Capabilities

1.4.3.2. Experience

1.4.3.2.1. HR

1.4.3.2.2. Financial

1.4.3.2.3. Experience with Customers

1.4.3.2.4. Sales

1.4.3.2.5. Management

1.4.3.3. Controls & Systems

1.4.3.3.1. Financial management

1.4.3.3.2. Hardware and software systems

1.4.3.3.3. Quality control

1.4.3.3.4. Product monitoring

1.4.3.4. Ideas & Innovations

1.4.3.4.1. Profitable ideas

1.4.3.4.2. Feasibility of ideas

1.4.3.4.3. Past performance with innovation

1.4.3.5. Leadership

1.4.3.5.1. Vision

1.4.3.5.2. Mission

1.4.3.5.3. Focus

1.4.3.5.4. Direction

1.4.3.5.5. Goals

1.4.4. VRIO

1.4.4.1. Valuable (Competitive disadvantage)

1.4.4.2. Rare (Temporary competitive advantage)

1.4.4.3. Imitate (Unused competitive advantage)

1.4.4.3.1. Historical condition

1.4.4.3.2. Link or cause is uncertain or unknown

1.4.4.3.3. Social complexity

1.4.4.3.4. Legal reasons

1.4.4.3.5. Cost

1.4.4.4. Organised (Sustainable competitive advantage)

1.4.4.4.1. Processes, policies, and organisational structure and culture must be right.

2. Questionnaire Design

2.1. Planning: Stakeholders, The delivery Mode

2.2. Writing

2.2.1. Identify Topics

2.2.2. Effective Questions:

2.2.2.1. Avoid Vagueness

2.2.2.2. Avoid difficult or specialized language, Simple sentence structures, Provide reference frames, Avoid asking more than one thing in the same question, Answer choices should allow for all possibilities, Avoid leading questions and emotional language, Check for ambiguous questions.

2.2.3. Types of Questions: Demographic, Behavioral, Attitudinal

2.2.4. Question formats: Open-ended and closed-ended questions, Attitude ratings, Filtering and branching questions,

2.2.5. Ordering the questions

2.2.6. Testing the questionnaire

3. Market Research

3.1. Market Research Outcomes: How consumers think, Why consumers buy, The right target market, Opportunities in the industry, Which products or services to sell, Consumer needs, The right price for a product, Which product benefits matter, How consumers buy, How and where to advertise, Help develop new products, The right location for sales, Factors that influence consumers.

3.2. Ethics in market research

3.3. Types of Market Research

3.3.1. Primary Research Sources

3.3.1.1. Surveys

3.3.1.2. Observation

3.3.1.3. Experiments

3.3.2. Secondary Research Sources

3.3.2.1. Own sales data

3.3.2.2. Tertiary institutions (Websites)

3.3.2.3. Trade associatios (Websites)

3.3.2.4. Internal customer feedback

3.3.2.5. Statistics NZ (Govt)

3.3.2.6. Government Dpartments

3.3.2.7. The internet, in general.

3.3.2.8. Market research companies. Colmar Brunton

3.3.2.9. Media: Magazines, Newspaper, News websites

3.3.2.10. Database

3.4. The Market Research Process

3.4.1. Initiation Stage, Planning Stage, Execution, Monitoring and Control, Closing Stage

3.4.2. 1. Write research brief

3.4.2.1. Research Objectives: What

3.4.2.2. Role: Why ? What problem to solve?

3.4.2.3. Existing Data:

3.4.2.4. Timing: When? How long?

3.4.2.5. Budget: How much? What other resources are required?

3.4.3. 2. Determine research design

3.4.3.1. Descriptive Research: Includes surveys and observation research. Collect facts.

3.4.3.2. Causal Research: Examine where one variable causes another to change. Experiments are the main method.

3.4.3.3. Exploratory: Know very little about the subject. Secondary research and interviews.

3.4.3.4. Qualitative Research: for understanding the thoughts, reasons, opinions, or motivations of the people. Small size, fill a given quota, focus groups, interviews, and observations.

3.4.3.5. Quantitative Research: Descriptive research, Numbers, Statistics, a sample to a larger population, Surveys and observation.

3.4.4. 3. Design method of research

3.4.4.1. Surveys

3.4.4.1.1. Online survey

3.4.4.1.2. Email survey

3.4.4.1.3. SMS Surveys

3.4.4.1.4. Mail Survey

3.4.4.1.5. Door-to-door interview

3.4.4.1.6. Executive interview

3.4.4.1.7. Telephone Questionnaires

3.4.4.1.8. Pedestrian Intercepts

3.4.4.1.9. Focus Groups.

3.4.4.2. Observation: The mystery shopper

3.4.4.3. Experimentation

3.4.4.3.1. Range of products available

3.4.4.3.2. Other types of advertising

3.4.4.3.3. Promotional deals

3.4.4.3.4. Packaging

3.4.4.3.5. Store layout

3.4.4.3.6. Shelf layout

3.4.4.3.7. Social media posts

3.4.4.3.8. Website design

3.4.4.4. Incentivising survey participants

3.4.4.4.1. Cash

3.4.4.4.2. Gift card/ voucher/ coupon

3.4.4.4.3. Providing food (quality assured)

3.4.4.4.4. Donating in the participant's name to charity

3.4.4.4.5. A free item that has your businesses brand

3.4.4.4.6. A free sample of your product or service

3.4.4.4.7. Access to an exclusive event or information

3.4.5. 4. Select sampling procedure

3.4.5.1. Sample size depends on

3.4.5.1.1. Budget

3.4.5.1.2. Statistical requirements

3.4.5.1.3. Subgroups: Segments, Target market groups.

3.4.5.2. Sample methods

3.4.5.2.1. Probability sample

3.4.5.2.2. Non-probability sample

3.4.6. 5. Collect data

3.4.6.1. By themselves

3.4.6.2. Specialist market research company

3.4.6.3. Independent contractor, relevant business expertise

3.4.6.4. Tertiary student

3.4.6.5. Links survey to social media

3.4.6.6. Online survey tools

3.4.7. 6. Analyse data

3.4.8. 7. Write report and present results

3.4.9. 8. Follow up

4. Porter's Five Forces

4.1. Competitive Rivalry, Supplier Power, Buyer Power, New Entrants, Threat of Substitutes.

4.2. Competitive Rivalry: Ex, Number of Businesses, Differences in products and services, Industry growth, Cost of exit, Brand identity, High stakes.

4.3. Buyer Power: Number of customers, The volume of the buying, Importance of brand identity, The amount of information customers have, Cost of switching, Backward integrate

4.4. Supplier Power: Number of supplier, Availability of substitute raw materials and inputs, Switch between suppliers, Threat of forward integration

4.5. Threat of Substitute Products and Services: Number of substitute, Quality of substitute, Similar benefits, Prices of substitute, Cost of switch, Ease of switch

4.6. The Threat of New Entrants: Cost of establish, Customer loyalty, Cost of switch, Economies of scale, Access to distribution channels, Regulations limitations.

5. External: Competitor

5.1. Competitor profile: Direct vs Indirect Competitor. The type as you or good substitute.

5.2. Competitor Profile Matrix: Key factors, Weighting, Rate

5.3. Competitor Profile Questions: Name, Owners or directors, Where regions, Direct or indirect competing, How similar or different, Their strengths and advantages over, Their weakness and your advantages, How well, What can be learned, Relevant information. About their customers, Intentions, Plans.

5.4. Collecting: Marketing materials, Annual report, website, about us, social media, fans followers, comments reviews, Premises, store design, products range, customers present at various time, helpful knowledgeable of staff, prices, special deals.

5.5. Competitor strategic Groups: to identify closet competitors

5.5.1. Attributes: feature, quality, aspect of its strategy. Creative Industry: Creativity, Standard, Differences, Outstanding.

5.5.2. List Competitors: 10-15 Direct and inmdirect

5.5.3. Draw the map

5.5.4. Add the competitors

5.5.5. Identify Strategic Groups

5.5.6. Niche Marketing, Empty area, Improve strategic position by moving to different group.

5.6. Competitor Profile

5.6.1. Competitor profile: Direct vs Indirect Competitor. The type as you or good substitute.

5.6.2. Competitor Profile Questions: Name, Owners or directors, Where regions, Direct or indirect competing, How similar or different, Their strengths and advantages over, Their weakness and your advantages, How well, What can be learned, Relevant information. About their customers, Intentions, Plans.

5.6.3. Collecting: Marketing materials, Annual report, website, about us, social media, fans followers, comments reviews, Premises, store design, products range, customers present at various time, helpful knowledgeable of staff, prices, special deals.

5.6.4. Competitor strategic Groups: to identify closet competitors

5.6.4.1. Attributes: feature, quality, aspect of its strategy. Creative Industry: Creativity, Standard, Differences, Outstanding.

5.6.4.2. List Competitors: 10-15 Direct and inmdirect

5.6.4.3. Draw the map

5.6.4.4. Add the competitors

5.6.4.5. Identify Strategic Groups

5.6.4.6. Niche Marketing, Empty area, Improve strategic position by moving to different group.

6. External: Industry

6.1. Opportunities

6.2. Threats

6.3. STEEP

6.3.1. Socio-cultural / Demographic

6.3.1.1. Cultural preferences, Cultural taboos, Cultural Diversity, Religion, Language, Lifestyles preferences, Current lifestyles, Work / life balance, Trends, Health and health consciousness, Crime, Saving and investing, Social class, Education, Ethics, Environmental consciousness, Social benefits.

6.3.1.2. Age, Gender, Ethnicity, Number of children per family, Life expectancy, Household occupancy patterns, Relationship status, Per capita income, Employment / earnings, Population changes, Local migration / mobility.

6.3.2. Technological

6.3.2.1. Impacts of technology on business

6.3.2.1.1. New Products and services

6.3.2.1.2. New Markets

6.3.2.1.3. New production methods

6.3.2.1.4. New distribution methods

6.3.2.1.5. New communication methods

6.3.2.2. Impacts of technology: Basic infrastructure level, Changes in technology, intellectual property issues, Computing & Communications, Access to new technology, Competitors' technological development, Expenditures, Innovation, Product life cycles, Legislation regarding technology, Research & Development, Technology incentives.

6.3.3. Economic

6.3.3.1. The economic cycle (Growth, Recession & Recovery)

6.3.3.2. Inflation (Under 3% in NZ in recent years)

6.3.3.3. Interest rates

6.3.3.3.1. Increase "official cash rate' to decrease inflation

6.3.3.4. Exchange rates

6.3.3.4.1. Exporters prefer Weak

6.3.3.4.2. Importer prefer Strong

6.3.3.5. Unemployment and labour cost

6.3.3.6. Raw material costs

6.3.3.6.1. Electricity, wood , paper, steel, and fuel.

6.3.3.7. International trade agreements (Opportunities & Threads)

6.3.3.8. The global economy and financial markets

6.3.3.8.1. 1st Largest economies: USA by GDP - 2016

6.3.3.8.2. 2nd Largest economies: EU by GDP - 2016

6.3.3.8.3. 3rd Largest economies: China by GDP - 2016

6.3.3.8.4. 4th Largest economies: Japan by GDP - 2016

6.3.3.8.5. 5th Largest economies: India by GDP - 2016

6.3.3.8.6. 6th Largest economies: Brazil by GDP - 2016

6.3.4. Political / Legal

6.3.4.1. Change of government (Stable in NZ)

6.3.4.2. Tax Policy

6.3.4.2.1. Increase GST high price

6.3.4.2.2. Offer subsidies to some businesses

6.3.4.3. Consumer Protection (Fair trade)

6.3.4.4. Health and Safety Laws

6.3.4.5. Environment Laws

6.3.4.6. Government policies, Support services, Price regulations, Industry-specific regulations, Regulation of exports / imports, Trade unions, Antitrust laws, Anti-discrimination law, Employment law, Intellectual property law, New laws and regulations

6.3.5. Physical / Environmental (Opportunities and threads)

6.3.5.1. Location, Demand for organic foods, Natural hazards and disasters, Industrial accidents, Environmental effects, Pollution, Waste management, Commercial recycling, Attitudes towards the environment in society, Depletion of natural resources, Substitutions for petrol and chemicals, The weather and changes in weather patterns, Climate change.

6.4. Industry Profile

6.4.1. Key aspects of an industry. ex. size, number of businesses, level of growth, and ease of entering the industry.

6.4.2. How big is the market? (Number, percentage, demography)

6.4.3. What is the growth rate of the industry? (Product life cycle)

6.4.3.1. Introduction stage: Sales low, Cost higher than later, Spending on advertising

6.4.3.2. Growth: Sales increase, cost tend to shrink, profits rise, new entrants, competition low, advertising cost high

6.4.3.3. Maturity: Sales high, Steadier, Costs lower, profits high, competition increased, Low advertising for informing, need to promote "deals"

6.4.3.4. Decline: Competition increases rapidly, "prices.." Focused on price promotion and special offers.

6.4.4. The pace of technological change in the industry? changing the way the industry operates?

6.4.4.1. Really need to keep up with all or most technological changes?

6.4.4.2. Any new technologies are essential?

6.4.4.3. How expensive is it to keep up?

6.4.4.4. Staff well trained to new technologies.

6.4.5. Products / services very similar or very different?

6.4.5.1. Similar: based on price and level of customer service

6.4.5.2. Different: based on the unique benefits of their products and services. Lower competition.

6.4.6. Economies of scale (Large quantities lower costs)

6.4.7. Capital utilisation required?

6.4.8. Dominated by a few large companies, fragmented with many small businesses?

6.4.9. Opportunities for forward and backward integration?

6.4.10. Skilled Labour readily available

6.4.11. Training opportunities (Online education, Training center, Programmers..)

6.4.12. Trends in cost

6.4.12.1. Labour (Wages and salaries)

6.4.12.2. Materials used to make products

6.4.12.3. Cost of products purchased to retail

6.4.12.4. Fuel

6.4.12.5. Overhead expenses, (ex, lease and electricity payments)

6.4.12.6. Selling expenses (ex, Travel agents, Insurance brokers, Sites, Gallery)

6.4.13. Average profitability for the industry (Be expressed as a percentage)

6.5. Industry Foresight

6.5.1. Ex, channels, social and cultural opportunities, impact of environmental concerns

6.5.2. Foresight and Trends

6.5.2.1. Mobility of information

6.5.2.2. An ageing population

6.5.2.3. Natural and organic products ex, clean green image

6.5.2.4. Busy, stressful lives and a need for convenience

6.5.3. Sustainability (KPMG Megaforces)

6.5.3.1. Climate change

6.5.3.2. Energy & Fuel

6.5.3.3. Material Resource Scarcity

6.5.3.4. Water Scarcity

6.5.3.5. Population Growth

6.5.3.6. Wealth

6.5.3.7. Urbanisation

6.5.3.8. Food Security

6.5.3.9. Ecosystem Decline

6.5.3.10. Deforestation

6.5.4. Key Success Factors

6.5.4.1. Cost Efficiency

6.5.4.2. Product Diffierentitation

6.5.4.3. Product Variety

6.5.4.4. Product Innovation

6.5.4.5. Negotiation Skills

6.5.4.6. Flexible Hours

6.5.4.7. Product Knowledge

6.5.4.8. Employee Skills

6.5.4.9. Efficient Systems

6.5.4.10. Customer Service