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The Walt Disney Presentation
Transcript of The Walt Disney Presentation
'Marketing strategy concerns the issues of what should happen and why it should happen.' - Jobber and Ellis-Chadwick,
'Weaknesses are internal elements that may interfere with a company's ability to achieve its objectives' -Kotler et al, 2013, 636
Small amount of market research
Narrow distribution field
Not keeping up to date with modern methods of production
'Threats are current emerging external elements that could potentially challenge a company's performance' -Kotler et al, 2013, 636
Changing legislation can harm businesses
Increasing amount of competition
Products can reach saturation without innovation
Customers are at the centre of the marketing philosophy - customer orientation.
Managers can use tools such as total quality management to create customer value. The perceived benefits of a product minus its costs. (Cravens and Piercy, 2006, 10-12)
Businesses aim to satisfy a preferable segment of the market based on prior market research.
Businesses use channel intermediaries to deliver the final product to the consumer.
Retailers - Direct and Indirect
'The actors and forces that affect a company's ability to operate effectively in providing products and services to its customers.' -Jobber and Ellis-Chadwick, 2013, 78
In service sector marketing it is important to employ individuals with suitable qualifications and characteristics.
The hiring of employees is a part of people in the services extended marketing mix.
The element of the microenvironment that businesses have little to no control over. They can only respond to change in the competition.
Organisations need to monitor competitors to be able to maintain its position in the market.
Satisfying customers better than the competition is key to business success. (Jobber and Ellis-Chadwick, 2013, 708)
The macroenviroment is uncontrollable and affects all businesses.
'The larger societal forces that affect the microenviroment' -Kotler and Armstrong, 2012, 93
Governments influence on legislation and the economy in which the business operates.
(Palmer, 2011, 493)
Copyright and Piracy
The monitoring of economic policies that affect the success of the company. Economic policy can directly affect supply and demand for the product.
(Jobber and Ellis-Chadwick, 2013, 82)
There are three types of Social force that have implications for marketing.
'Many technological breakthroughs change the rules of the competitive game... Technological change can provide opportunity for new product development, create new markets, change marketing practices and communications, and revolutionize society.' -Jobber and Ellis-Chadwick, 2013, 96
Information and Data Management
Patents and Licensing
Changes in the way society uses technology
Decisions about the businesses product can be broken down into attributes, branding, packaging, labeling, and after sale services.
Products attributes are the quality of the product, the features provided, the style and design. The way in which a business uses attributes affects customer value.
Providing customer service after the sale of a product is sure way to maintain customer retention.
Price is the only pure revenue generating element of the marketing mix.
Businesses can chose a price based on:
Cost of materials + profit margin
The price of competitors products
The customers' perceived value
Price can be affected by the macroeconomic environment, such as government taxes and service charges. (Groucutt et al, 2004, 303)
Price plays a big roll in the demand for the product under the supply and demand mechanism.
'All the company activities that make the product and service available to target customers' -Kotler et al, 2008, 994
The location of services and distribution of goods makes up place in the marketing mix. Products need to be conveniently located, in adequate quantities at the correct time. (Jobber and Ellis-Chadwick, 2013, 632)
'Communicating information between the seller and potential buyer.' -Groucutt et al, 2004, 321-322
Companies use the promotional mix to communicate their product to customers along a variety of media platforms.
'Strengths are internal capabilities that help a company reach its objectives.' -Kotler et al, 2013, 635
A reliable product
Well recognised brand
'Opportunities are external elements that a company may be able to exploit to its advantage' -Kotler et al, 2013, 636
Potential growth in other markets
Changes in consumer preferences
The actors that are close to the company; the employees, intermediaries, customers and competitors.
They can be partially controlled and manipulated.
Marketers use SWOT analysis to display the results of the marketing audit. (Jobber and Ellis-Chadwick, 2013, 50-51)
It can be used to develop market strategies, converting internal (controllable) weaknesses to strengths and external (uncontrollable) threats to opportunities.
The marketing mix is 'a conceptual framework which highlights the principle decisions that marketing managers make in configuring their offerings to suit customers' needs'. (Palmer, 2003, 18-19)
It is a balanced mix of four key decision areas.
Branding, Packaging and Labeling
Brands give products a persona that allows marketers to better target towards the consumer segment.
They are established by firms to differentiate products among competition.
Branding and packaging are tangible features that help influence consumer choices. (Groucutt et al, 2004, 275)
Barriers to Competition
And most of all, High Profits! (Jobber and Ellis- Chadwick, 2013, 310-311)
Objectives and Strategy
Pricing objectives derive from the overall corporate objectives; to expand market share, make a profit and maintain competitiveness.
Gain large proportion on the market
Open a new low-price segment
Gaining entry into new markets
Often used for new products as they are less sensitive to high prices
Linked with innovative products.
Service providers have to decide on how to make their business accessible to consumers. Holiday destinations have to decide which tourism operator to use; or where to locate a hotel. (Palmer, 2011, 36)
The distribution of goods through channel intermediaries such as wholesalers and retailers allows businesses to reach a broader target market.
Using a blend of the promotional mix, marketers persuade customers to purchase one company's products over its competitors.
Be one of the world's leading producers and providers of entertainment and information, using its portfolio of brands to differentiate its content, services and consumer products. -The Walt Disney Company (2014)
To maximize earnings and cash flow, and to allocate capital toward growth initiatives that will drive long-term shareholder value. -The Walt Disney Company (2014)
Creating quality and innovative content that continues to differentiate Disney as best-in-class;
•Deploying cutting edge technologies to showcase our content for early competitive advantage while enhancing the customer experience; and
•Expanding and adding depth to our global presence, particularly in emerging markets
Delivering the strategic success, we are focused on brand support, growth and creation through our core brands Disney, Pixar, ESPN, ABC and Marvel.
-Disney India (2014)
To be innovative - staying ahead of the competition
Market the brand to America through media stations ABC, ESPN and Disney Channel
'The goal is to reach kids directly and encourage them to urge their parents to visit a Disney park for a family experience' -Ramjee, 2013
To remain competitive in the entertainment and information industry to improve shareholder wealth by utilizing innovative technologies and target advertising; using children's influence in purchase decisions.
Based on Disney's market analysis and an analysis of their strengths and weaknesses, we have created a marketing strategy to use targeted adverts to make children influence parents to buy Disney Products.
We have aimed to provide a high quality product in line with the current brand image at a reasonable price for both parties.
Consumers will be made aware of our products over different media tools to match each segments core needs.
Thank you, by:
Harry Bell (13387767)
Jingwen Qiu (13437039)
Yasmin Hassan (12380977)
Zekun Wang (13450998)
Victoria Stevens (13383759)