How to Create a Marketing Plan: Diagnosis Phase

Understanding the Diagnosis in Marketing Planning

• The diagnosis is an analysis of various factors affecting a company, focusing on those that can improve market performance.

• The tool used for this diagnosis is the SWOT matrix (Strengths, Weaknesses, Opportunities, Threats), which consists of four quadrants.

• The upper part of the matrix includes external factors identified through environmental analysis, while the lower part focuses on internal strengths and weaknesses.

Analyzing External and Internal Environments

• The external environment (macro environment) includes universal factors like economic crises (e.g., COVID-19), analyzed using PEST analysis.

• The internal environment consists of sector-specific factors affecting only certain industries, analyzed through Porter's Five Forces model.

• Strengths and weaknesses are filled with characteristics derived from analyzing the company's products, services, brands, and consumer insights.

Key Components for Analysis

Market Segmentation

• Identifying consumer profiles is crucial; businesses should assess if they target appropriate segments or need to shift focus.

Brand Positioning

• Companies must define who they are and how they want to be perceived in the market by identifying key differentiators important to their segments.

Product/Service Characteristics

• Elements such as product features, pricing strategies, distribution channels, and communication methods must align coherently within the marketing mix for effective strategy implementation.

Pairing Strengths with Opportunities

• After filling out the SWOT matrix quadrants with relevant data about both environments, companies should pair threats with weaknesses and strengths with opportunities for strategic insights.

Vulnerability Analysis

• Pairing threats with weaknesses helps identify vulnerabilities in the market that need urgent attention to mitigate risks effectively.

Potentiality Analysis

• Conversely, pairing strengths with opportunities allows businesses to leverage their capabilities towards growth potential in favorable market conditions. This leads to maximizing business potential and possibly achieving market leadership.

Developing an Action Plan

• Once vulnerability and potentiality analyses are complete, companies can prioritize whether to address vulnerabilities or capitalize on opportunities when creating actionable plans detailing initiatives needed for response strategies against market dynamics.