Examine issues that impact a company’s choice of marketing strategies, such as different market positions or stages of the product life cycle. 6. Interpret how elements of a SWOT analysis relate to and/or influence marketing strategy. 7. Recommend improvements to a company’s existing marketing strategy.
How can different sources of funds help a business achieve its financial objective? Businesses usually have five main financial objectives. They are efficiency, growth, solvency, liquidity and profitability. Sourcing different sources of funds and interdependence with other key business functions (operations, marketing and human resources) is the way that businesses achieve these goals. It is important that these funds match their needs, for example, short-term funds to match short-term goals.
This paper will describe how a company conducts a SWOTT analysis. The internal and external analysis of Scents & Things in relation to the organizations forces and trends such as; Economic, Technological, Strategy, Legal/Regulatory, Innovation, Structure, Resources, and Culture. This paper will also classify one primary strength, weakness, opportunity, threat and trend if possible for each of the factors. Following the end of this paper, a SWOTT Analysis Table will sum up the findings of the forces and factors relative to Scents & Things. SWOTT Analysis For Scents & Things to perform a SWOTT Analysis, the company has to answer the following questions about the company’s strengths; the advantages, resources, strengths in the market, and what does the organization do better than the competition.
5. Explain how an item's target market might affect its price. A: the company needs to take into account the people needs, dislikes, wants and lifestyle. The target market is affected by an specific group of people, and they have to adjust the product for that specific group of people. 6.
Socio-cultural is what folks expect direct from daycare facility. The internal environmental factors will certainly be influenced by examining the services provided from the facility, the price, how the facility can promote the daycare, how the business can operate, the qualifications on your staff, and of course the monetary budgets on your facility. The learning center can conduct a SWOTT analysis on your internal and external environmental factors to actually recognize the strengths and weaknesses on your company. During this SWOTT analysis the corporate can inspect the strengths, weaknesses, opportunities, threats, and trends inside the corporate to assist verify
One way to narrow the market is through market segmentation. Market segmentation allows an organization to target consumers who will value a particular service based on common characteristics. It is also considered to allow the organization to bend the supply to the will of demand (Berkowitz, 2006, p. 164). Lifestyle is an important aspect affecting a consumer’s decision-making process. It is a lifestyle in which people live as demonstrated by how they spend their time, what they think, and the interest they have (Berkowitz, 2006, p. 111).
“A host of external factors influence a firm’s choice of direction and action and, ultimately, its organizational structure and internal processes. These factors, which constitute the external environment, can be divided into three interrelated subcategories: factors in the remote environment, factors in the industry environment, and factors in the operating environment” (Pearce, Robinson, 2011). I will have to research to gather information for each sub factor to develop an external analysis. The remote environment has five different factors which are economic, social, political, technological, and ecological. I will describe each factor and how it relates to Cablevision.
The environmental scan provides information about the present status of KFF and displays the internal and external environment of the business. The internal environment consists of the strengths and weaknesses of KFF. The external environment pertains to the opportunities and threats of KFF. KFF is experiencing growth at this time but the company has to be aware of the industry it
Internal and external customers provide business with information about how their products are used, new opportunities for their business, trouble-shoot issues with their product, and organise workloads. Operational plans include customer service processes and product development. These plans include: * Understanding customer needs (internal/external – current/future) * Expectations of Customers * Research results -target markets , sampling and profiling, market segmentation, needs * Collection and analysis of information collected Customer needs can continually change being influenced by the economy, social and political events, trends and movements. Organisations use change management practises to pre-empt changes wherever possible, and also to be ready for change. To do this, organisations need to be aware of the following: * Identify what customers are buying and what benefits they purchase * Understand why customers will or do purchase * Know when customers are likely to buy By knowing the customer, organisations can plan to meet their needs.
ASSESSMENT 1: SHORT ANSWER QUESTIONS Introduction The implementation or sustainable practices in any business generate solutions opportunities could be in many different places or be part to many different external situations; when someone is looking for business opportunities can find that some environmental factors could give many opportunities, a clear example of this is the change of some law or a special economic situation, the demographic grow and the necessities of this population. The environment to find business opportunities could be cultural, political, technological, demographic, economic, political or natural; for this reason is important learn how to identify marketing opportunities in this aspects, and example of this marketing