How do you apply common marketing models to case problems?

1 SWOT analysis

A SWOT analysis is a useful tool for understanding the internal and external factors that affect a marketing performance and strategy. To apply this analysis, you need to answer four questions: what are the strengths of your product, service, or brand in the market? What weaknesses or areas of improvement exist? What opportunities or potential benefits can be exploited? And what threats or challenges are faced? A SWOT matrix can help you organize and visualize the results, allowing you to identify your competitive advantages, gaps, risks, and growth potential in a case problem.

2 4Ps of marketing

The 4Ps of marketing are the four elements that make up the marketing mix: product, price, place, and promotion. These are the variables that you can control to meet the needs and preferences of your target market. To apply the 4Ps of marketing to a case problem, you must analyze how each element influences your marketing performance and strategy. You should consider questions such as what features, benefits, and value proposition your product or service has, how you set its price based on costs, demand, and competition, how you distribute and deliver it to customers through different channels and locations, and how you communicate and persuade customers to buy your product or service through different media and messages. A 4Ps matrix can help organize your answers and compare your marketing mix with competitors. Ultimately, this framework can help optimize your marketing mix and align it with your marketing objectives and customer expectations in a case problem.

3 STP model

The STP model is a process designed to segment, target, and position your product or service in the market. It can help you identify and reach the most profitable and attractive customer segments for your product or service. To apply the STP model, you need to segment your market based on different criteria, such as demographics, psychographics, behavior, or needs. Then, you should target the most suitable segments based on their size, growth, profitability, and compatibility with your product or service. Lastly, you should position your product or service in the minds of your target customers by creating a unique selling proposition and a differentiated marketing mix. A STP diagram can be used to organize these steps and show how your product or service fits in the market. The STP model can help you create a focused and effective marketing strategy for your product or service in a case problem.

4 Ansoff matrix

The Ansoff matrix is a useful tool to evaluate and select growth strategies for a product or service in the market. It can help you decide whether to pursue market penetration, market development, product development, or diversification based on existing or new markets and products. To apply the Ansoff matrix to a case problem, you need to consider four options: increasing your market share in the existing market with the existing product or service by enhancing your marketing mix, customer loyalty, or competitive advantage; entering new markets with the existing product or service by expanding your geographic reach, customer segments, or distribution channels; introducing new products or services in the existing market by innovating, modifying, or extending your product or service portfolio; and entering new markets with new products or services by acquiring, partnering, or creating new businesses or product lines. The Ansoff matrix can help you organize these options and assess their risks and rewards so that you can explore and choose the best growth strategy for your product or service in a case problem.

5 BCG matrix

The BCG matrix is a tool that helps you analyze and manage your product or service portfolio based on their market share and market growth. It can aid in allocating resources and prioritizing investments among different products or services. To apply the BCG matrix to a case problem, you need to classify your products or services into four categories: Stars, Cash Cows, Question Marks, and Dogs. Stars have high market share and high market growth, generating high revenues and profits but requiring high investments to maintain their position. Cash Cows have high market share and low market growth, being mature and stable in their markets while also generating high revenues and profits but requiring low investments to sustain their performance. Question Marks have low market share and high market growth, being new and uncertain in their markets while generating low revenues and profits but requiring high investments to increase their market share and potential. Dogs have low market share and low market growth, being weak and declining in their markets while generating low revenues and profits but requiring low investments to maintain their presence. The BCG matrix can help you organize your products or services, compare their relative position and performance, as well as balance and optimize your product or service portfolio in a case problem.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?