Rationalising the current product mix offered

Reducing variable or fixed costs

Increasing the price of the current product range

Market penetration by winning competitor's customers

Opportunities and Threats

Weaknesses and Threats

Strengths and Opportunities

Strengths and Weaknesses

The firm's current and potential customers

The microenvironment

The macroenvironment

The firm's competitors

The firm's existing portfolio of products

Promotion

Price

Place

Product

Design the marketing organisation

Implement marketing control

Define the business mission

Develop marketing objectives

Formulate marketing strategy

Creating a Facebook page for fans of the new chocolate bar

Advertising the new product on Channel 7 during "Big Brother"

Responding to customers' comments about the new product on Twitter

Encouraging customers to share photos of the product with each other online

their target markets have different physical, political, or legal environments

they are competing against purely local companies

their target markets are similar to one another

their target markets have significant cross-cultural differences

marketers can deploy everyday consumers as brand ambassadors

consumers cannot trust marketers with their social media information

brands can engage multiple senses (e.g. sight, sound, smell, etc.) to increase their online social presence

social media pervades most aspects of consumers’ lives

Distribution (Place)

Promotion

Price

Product

The major task of the organisation is to improve the efficiency of both product and distribution, as consumers will favour products that are available and affordable.

The key task of the organisation is to determine the needs, wants and interests of target markets, and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer's and the society's well-being.

Consumers will favour those products that offer the most quality for the price, and therefore the organisation should devote its energy to improving product quality.

The key task of the organisation is to make an effort to stimulate consumers' interest in the products, as otherwise the consumers will either not buy, or not buy enough of, the organisation's products.