Well, it's so good to see you today.
I'm so glad you came. We are going to talk today
about analysis. Analysis
is so very, very important to what we do.
So, I'm going to sit back.
I want you to just
lie down on the couch here;
rest yourself; close your eyes;
think happy thoughts.
Just let your mind
go free, and we are going to talk about
situation analysis.
In marketing, we
analyze and we analyze because this is very important
to what we do. We are analysts;
we must analyze.
So, how are you feeling?
Your thoughts feeling free. Your mind
floating. So
first in a situation analysis,
are you listening? Not snoring, yet?
Good, good, good we do the
mezmorization;
a little bit later, not this time.
In an analysis,
a situation analysis of a marketing situation
we must be very careful
to cover all the bases. So first,
we want to start with the market demographics.
We gather all the market demographics
for our audience, for our target audience.
Yeah, do you hear me? Okay, and what do you think about that?
The market analysis is
very important to those demographics, and we talked about
those in our previous video.
So, we get our market
demographics. We gather
our market analysis. What
is the situation in the market
right now? Now,
when our client or our product
is going to be marketed, what
is the analysis of the market now?
What are the market trends
right now? Yeah, yeah
markets trends, and then we think about what are the
growth areas in the market
right now? We must think about what the market
situation is before we think of
anything else. All these pieces of
information we are gathering.
You feeling okay? Yeah, you relaxed now?
We're sharing our thoughts on analysis.
Yeah, going well. So, we look at
market demographics, market
analysis, situations right now,
market trends, how
they affect our product;
our company. Then we think,
how the market is growing right now.
Maybe the areas that are not growing right now,
and how is the market
for our services? For our
product? So,
now we talk about the market.
Now we must look at
the product itself;
the business itself.
Yeah, you thinking happy thoughts about the market and our business?
While you are thinking these happy thoughts,
in our situation analysis you must
also be thinking these things: you want to look
at what are the strengths of
your product; the strengths of your company.
Is it your staff? Are they very
friendly? Are there very many in number?
What kind of equipment do you have?
What kind of an environment have you set up?
Is it a very comfortable situation?
What are the strengths of
this company or this product that you are
analyzing? Yeah, thinking the happy thoughts.
So strength,
you also must think about
weaknesses. What is weak
about the company or the product? What is
if you've already thought about what is strong,
what is weak? What is not as good?
What are we not doing as well
as we should be. What is the company
not doing as well as it should be?
Then you want to think about
opportunities.
We're going to make a list. What are the
opportunities that we have
right now in this market to
promote this product; to persuade
people to purchase this product
or to use our services. Yeah, these are happy thoughts.
Relax because the next
item that we must look at is the
threats. So, no fear, don't be feeling any fear.
We may be talking about threats
but there's no threat to you, my friends.
Just relax, but we must
look at threats to this product
or this company and then determine what we can do
to counter act these threats.
Is it the economy? Is it a reduced
amount of expendable income
in our target audience,
or perhaps our target audience
is aging and is changing?
Perhaps technology is changing
or there is very much competition.
So, S-W-O-T
are the things that we want to look at
as far as our company. Strengths,
weaknesses, opportunities,
and threats. Oh, it's okay,
no, don't get excited, we're
relaxed, we are thinking secret thoughts, see happy thoughts
la la la la la, little lambs dancing on the
clouds, across the mountains
of Austria, but
we must think of these things. Also in a situation analysis,
we must look at the competition.
What is the competition doing?
We must check and see; competition
very strong right now, new products,
new audiences, making lots of money, so
passing us in the marketplace. We need to
look very closely, delve into
what the competition is doing and how many
competitor's we have. Then,
talk about the situation of our own
product in the marketplace. How is it situated
right now? These are still happy thoughts.
They are mostly happy thoughts. We are
analyzing, just analyzing,
analyzing. Then we must
also look at distribution. Do we have any difficulties in distributing
distributing our product?
How is it distributed? Do we need to make changes there?
Then, finally, our
environment or our sociological situation.
We are analysts, so we must think
about the environment. Is this environment conducive to our product now?
Do we adapt our
product to fit the changing environment
or the changing sociological
aspects? So these are the things that we look at in a situation analysis.
Are we relaxed now?
You may be getting
very very sleepy
but I hope that you're not.
Wake up! Wake up! Wake up! Because you're going to have a situation
analysis
assignment for this class. I will post
some information on
on the online, on the line for you
and then after you have determined your situation,
your client's situation, you will create
strategies as we have talked about
on how to address these
situations. How do we address
these threats? How do we address
the opportunities and the weaknesses
and use our strengths? But for now
we're just going to analyze because
research, analysis, that's what
really makes good
advertising.
Okay? Remember,
stay relaxed, we'll talk
to you later.
(sound of snoring)
Analysis!