In the short term, market analysis can be invaluable for a company as it can provide immediate insight as to how a company should approach issues concerning their existing products. This information could save the company money by preventing a miscalculation in choosing their target marked or marketing strategy; miscalculations that take valuable time and money to rectify. Additionally, short term market analysis can benefit companies by identifying competition. If the competition remained unknown, incorrect pricing could swiftly remove all consumer interest for a line of products of services rendering the operation ineffective.
The following lists show questions that an analyst would ask in conducting a SWOT analysis.
Strengths What does the company do well? Is the company strong in its market? Does the company have a strong sense of purpose and the culture to support the purpose? Weaknesses What does the company do poorly? What problems could be avoided?
Does the company have serious financial liabilities? Opportunities Are industry trends moving upward? Are there new technologies that the company can exploit? Threats What are competitors doing well?
What obstacles does the company face? The following case study demonstrates how SWOT can be used to create a strong business strategy. Case Study In the mids, Dell Computer used a SWOT analysis to create a strong business strategy that has helped it become a very strong competitor in its industry value chain.
Dell identified its strengths in selling directly to customers and in designing its computers and other products to reduce manufacturing costs. It acknowledged the weakness of having no relationships with local computer dealers.
Dell faced threats from competitors such as Compaq and IBM, both of which had much stronger brand names and reputations for quality at that time. Dell identified an opportunity by noting that its customers were becoming more knowledgeable about computers and could specify exactly what they wanted without having Dell salespersons answer questions or develop configurations for them.
It also saw the internet as potential marketing tool.Motives for Strategic Alliances Types of Alliances Exhibit Types of Strategic Alliance Success Criteria of Strategic Options Exhibit Strategic Options Evaluation Tools for Assessing Suitability TOWS Matrix Relative suitability of options Ranking strategic options Decision trees Scenarios Assessing Acceptability Return Profitability.
BCG Matrix in the Marketing strategy of Costa Coffee – Coffee in its product portfolio is what it is known for and that’s why it is a star in the BCG matrix. Tea and other Beverages of Costa Coffee are the question mark in the BCG matrix.
TOWS Matrix 7 10 12c’s Framework 7 11 Strategic Options 7 Growth strategies 7 Competitive strategies 7 Porters competitive strategies 7 Bowman's strategic clock 7 Segmentation, Targeting, Positioning 7 porter`s 5 Forces Of Tesco Plc;.
SWOT and PESTEL are analytical tools that help identify the key external and internal factors that should be taken into account in order to achieve success in a project or initiative. 1 Then Joseph could not refrain himself before all them that stood by him; and he cried, Cause every man to go out from me.
And there stood no man with him, while Joseph made himself known unto his brethren. Acts 2 And he wept aloud: and the Egyptians and the house of Pharaoh heard. 3 And. A market penetration strategy involves focusing on selling your existing products or services into your existing markets to gain a higher market share.
This is the first strategy most organizations will consider because it carries the lowest amount of risk.