[PBL] Trigger #2

How a company can identify the changes in the market and adapt to it in terms of internal and external change?

  1. How to identify changes:

Identify changes and making plan are part of Marketing Strategy of a company. It includes 4 levels:
Defining the company mission –> Setting company objectives and goals –> Designing the business portfolio –> Planning marketing and other functional strategies

 

 

From analysis the company must find the right strategy

The strategy are created by seeing major trends and predict the vision of future. The company must use market research to understand customers needs and wants, and choose the right market segment.

Tools to analyse:
 SWOT

Growth-share matrix from Boston Consulting Group

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Product/market expansion grid

 

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Indentify changes is part of marketing jobs.

  1. Market research

 

Who indentify and plan for changes?

+ The company itself:

+ Consultant firm

1st .McKinsey (the biggest consultant firm)

McKinsey & Company is a worldwide management consulting firm. It conducts qualitative and quantitative analysis in order to evaluate management decisions across the public and private sectors. Widely considered the most prestigious management consultancy,[4] McKinsey’s clientele includes 80% of the world’s largest corporations, and an extensive list of governments and non-profit organisations. More current and former Fortune 500 C.E.O.s are alumni of McKinsey than of any other company, a list including Google C.E.O. Sundar Pichai, Facebook C.O.O. Sheryl Sandberg, Morgan Stanley C.E.O. James P. Gorman, and many more. McKinsey publishes the McKinsey Quarterly, funds the McKinsey Global Institute research organization, publishes reports on management topics, and has authored many influential books on management. Its practices of confidentiality, influence on business practices, and corporate culture have experienced a polarizing reception.

http://www.independent.co.uk/news/business/analysis-and-features/mckinsey-how-does-it-always-get-away-with-it-9113484.html

2nd. Boston Consulting Group

3rd Bain & Company

(Big Three management consultancies)

Big Four (Deloitte, PwC, EY, KPMG)

 

 

Trend nowadays

Technology, Artificial Intelligence, Renewable Energy, Sharing Economy

Case company:

  1. Oil companies

Many oil companies now invest in renewable energy, because they predicted the trend of renewable energy is something must happen in the future.

2. Microsoft

Large product portfolio. Microsoft had expanded the numbers of types of products, not only focus on software but also in hardware.

https://support.microsoft.com/en-us/allproducts

https://en.wikipedia.org/wiki/Timeline_of_Microsoft

3. Alphabet (parent company of Google)

Spend money on many different areas. Develop AI (DeepMind, first win 4-1 GO with humans, Google Glasses)

alphabetcompanystucture

List of emerges

https://en.wikipedia.org/wiki/List_of_mergers_and_acquisitions_by_Alphabet

4. Yahoo

Lost when can’t changed anything

 

Sources

Principles of Marketing Fifthteenth Edition – Philip Kotler & Gary Armstrong

https://en.wikipedia.org/wiki/Big_Three_(management_consultancies)

https://en.wikipedia.org/wiki

http://www.reuters.com/article/us-oil-climatechange-idUSKBN12X0WA

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