SLP01 is attached,SLP02 is the 2nd part of SLP01… eventually there will be 5 parts slp01-05 SLP02 requires you to consider the service you have chosen to market and hopefully, are using to gain a “competitive advantage”. Here regard a competitive advantage as something you do better than your competitors in serving your target markets. Note that excluding your title page, the SLP02 section of the marketing strategy should be approximately three pages long. The New Section of the Strategy for SLP02 for Grading Make sure you use the following section headings (indicated in bold) for each of the Questions/Issues: 7. COMPETITIVE ADVANTAGE ANALYSIS: How well does the proposed service meet the demands of the market compared with the competition? To help do this analysis: create a Product/Market Matrix. This is a table listing the various segments you identified in the Customer Analysis section for MOD01 and the products which those segments buy. (This is NOT to be confused with a table of a similar name developed by Igor Ansoff.) To analyze the competitive situation show the competitors providing those products for each segment in each cell as appropriate. * Don’t just present the matrix; explain what it shows. 8. Which are MY TARGET SEGMENTS your business will focus on and why? Using the information from section 3, present a table that lists the primary potential target markets with information for each drawn from all prior sections to explain your decision as to which you will focus on. 9. Describe THE SERVICE that you will provide using your analysis of yourself, the market and the competition to explain how you reached this conclusion. Describe the People who will deliver the service, the Physical Environment (if any) in which the service will be provided and the Process through which the service will be provided. 10. Statement of your business’s MISSION (what business are you in or what are you supposed to do). 11. The GENERAL OBJECTIVES or GOALS of your business (for example, achieving sales of X% by date A). * The MOD01 Background lecture Segmentation has a simple example of a Product-Market Matrix – Slide 9, dealing with the toothpaste market. There is a further example in the presentation about the SLP “Notes for the SLP” accessible on the MOD01 Background Info page. EXPECTATIONS Inclusion of Prior Sections (Not Graded Again) Each time you submit a new section of the Marketing Strategy, include the prior sections, revised in the light of feedback and any further research you have conducted, as necessary.
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