Marketing strategy I #6 1 Consumer Behavior

Summary

In this video, Taku Towa from the Department of Management addresses the class, emphasizing the importance of health and well-being amidst a busy schedule. He corrects a mistake in the course schedule, clarifying that the review session will occur in the seventh week via an online forum on Moodle. Towa also reviews the previous class on growth strategies, discussing the significance of analyzing external environmental factors and conducting a SWOT analysis to assess a company's strengths, weaknesses, opportunities, and threats. He provides examples from students' SWOT analysis of SOPIA, highlighting the need for the university to create unique value to attract potential students.

Takeaways

• 😀 Taku Towa from the Department of Management is addressing the class.
• 📚 The class has reached its sixth week, and students are encouraged to take care of their health amid the hot and humid weather.
• 🗓️ There was a mistake in the course schedule; the Review section was mistakenly shown to be in the sixth week but is actually scheduled for the seventh week.
• 💻 An online Forum will be opened on Moodle for a Q&A session during class hours on May 29th, from 5:20 p.m. to 7:00 p.m.
• ❓ Students can post questions on the Forum, but participation is optional and does not affect their course grade.
• 🚫 The Forum is not for discussing grades or other courses' assignments, only for questions about the course content.
• 🤔 The purpose of the Q&A session is to clarify and solve any questions regarding the course content.
• 📈 Last week's class focused on growth strategies and the importance of analyzing external environmental factors for companies.
• 🌐 Companies should monitor demographic, economic, natural, technological, political, and cultural factors when planning marketing strategies.
• 🔍 The Five Forces analysis was introduced as a framework to evaluate the structure of industries and the attractiveness of specific industries.
• 📝 SWOT analysis was discussed, which organizes factors into internal and external, as well as positive (strengths and opportunities) and negative (weaknesses and threats) for the company.
• 🏫 In the last reaction paper, students conducted a SWOT analysis on SOPIA, identifying strengths such as nationality and location, weaknesses like small campus size, opportunities from global educational interest, and threats from competition among top Tokyo universities.

Q & A

What is the main purpose of the Q&A session on Moodle mentioned in the script?

The main purpose of the Q&A session on Moodle is to clarify and solve any questions about the course content. It is an opportunity for students to ask questions and receive answers without affecting their course grade.

Why was there a mistake in the course schedule presentation?

The mistake in the course schedule presentation was that the review section was shown to be conducted in the sixth week class by mistake, when in fact it should be the seventh week class.

What is the correct time for the online Forum on Moodle during class hours?

The correct time for the online Forum on Moodle during class hours is from 5:20 p.m. to 7:00 p.m.

What is the date set for the online Forum on Moodle?

The date set for the online Forum on Moodle is May 29.

Why is it important for students to review the frameworks discussed in class?

It is important for students to review the frameworks discussed in class because they are fundamental tools for analyzing marketing strategies and understanding the internal and external factors affecting a company.

What does the acronym 'SWOT' stand for in the context of the script?

In the context of the script, 'SWOT' stands for Strengths, Weaknesses, Opportunities, and Threats, which is a framework used to analyze and organize information about business capabilities and potential challenges.

What is the significance of the 'Five Forces' analysis mentioned in the script?

The 'Five Forces' analysis is significant because it helps in evaluating the structure of industries based on relationships with competitors, buyers, suppliers, the threat of new entrants, and substitute products, indicating the attractiveness of an industry.

What are the factors that companies need to monitor according to the script?

Companies need to monitor factors such as demography, economy, nature, technology, politics, and culture as these can influence their operations and strategy planning.

What is the role of the 'reaction paper' in the context of the class?

In the context of the class, the 'reaction paper' is an assignment where students apply the concepts learned, such as SWOT analysis, to a specific case or topic, like analyzing the internal capabilities and external environment of SOPIA.

What was the mistake regarding the 'reaction paper' mentioned in the script?

The mistake was not about the 'reaction paper' itself but rather a misunderstanding among students regarding the campus size and number of professors as a weakness. The instructor clarified that a smaller campus can actually enhance teaching quality and the university's reputation.

What are the potential opportunities and threats identified for SOPIA in the students' reaction papers?

Potential opportunities identified for SOPIA include the growing interest of students in global educational systems, such as studying abroad. The threats include higher competition among top universities in Tokyo, which offer appealing courses and international exchange programs.