ADV 150 Lecture Notes - Lecture 8: Espresso, Digital Single-Lens Reflex Camera, Mentos
29 Nov 2014
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Document Summary
To figure out strategy for a brand you need to know your situation around. Situation analysis - contexts to look at when developing strategy and then determine strengths, weaknesses opportunities and threats related to brand. Industry/category e. g. what coffee beans species are grown in different areas; different kinds of coffee; making process (roasting, etc. ) espresso royale vs. starbucks. Market/consumers e. g. what people doing while drinking coffee; check social media, discussion, reading, studying, etc. Competition what competitors are doing e. g. how other coffee shops make their coffee. Culture e. g. the cultural feeling you (or your competitors) try to establish for customers; environment inside the shop, tables outside, background music, bookshelves, etc. History e. g. different logo designs of starbucks in history; different shop exterior designs of jimmy johns. Economy e. g. taxes etc. affect consumer decision to buy coffee. Like/dislike e. g. chicken rings, cakes, chocolate, cookies, etc.
