When developing competitive marketing strategies, one of the most important steps is carrying out effective research and analysis. As well as assessing the external competitive environment, you need to look inward. In other words, you need to assess your organizational capabilities – what unique skills and resources does your organization have and how can it effectively deploy these to deliver a sustainable competitive advantage? In addition, you need to consider your marketing activities – how relevant are your marketing objectives, given your organization's current and potential capabilities? And what kind of profile does the marketing function have in your organization? Addressing questions like these will help you improve and develop strategies that reflect your unique capabilities. This course describes how to conduct an internal analysis as part of the process of developing competitive marketing strategies. It explains the types of questions you may need to ask about your organizational resources and capabilities. And it describes areas to consider when doing a marketing audit, including innovation activities.
- Define the role of internal analysis in the development of competitive marketing strategies
- Recognize the steps in identifying important organizational competencies
- Categorize examples of resources and competencies important for creating and maintaining competitive advantage
- Recognize important questions to consider when conducting an internal marketing audit
- Identify examples of what you should consider when conducting an innovation audit
Managers and strategic planners who want to refine their skills for developing and implementing competitive marketing strategies