1. Conduct an environmental scan for Jamba Juice as it considers a new juice bar to open near your university. Identify factors that you think have an impact on the juice bar market, and indicate whether these factors would tend to enhance opportunities or represent threats.
Evaluating information on events occurring outside the organization and identifying trends is environmental scanning. Trends are determined through the forces of social, economic, technological, competitive and regulatory sources. In some of my research on this subject, I found reference to the term PESTLE analysis which involves six different environments for assessment: political, economic, social, technological, legal and environment.
Environmental scanning involves an organization to look at any trend, opportunity or threat that could create issues for their company. Once any of these issues are identified, the organization should consider new strategies that react to these external factors. Issues should be examined that involve not only direct customers and suppliers, but also competitors, any changes in regulations and possible political involvement. External factors will be constantly changing so environmental scanning should occur frequently and regularly to ensure the current issues have been captured. Research and data analysis can help drive decisions regarding overall marketing changes that might be necessary.
The fact that the juice bar would be located near/on a university
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“PESTLE analysis will help to capture understanding about aspects of the context by using the prompts political, economic, sociological, technological, legal and environmental. It is a technique that facilitates a wide scan of the context and actual or potential factors that would affect objectives if left unmanaged.” (Webster-Murray, R. 2010. pg.88)
1. Environmental scanning – A version of environmental scanning in which the firm identifies desirable markets by using the environmental forces to eliminate the less desirable markets
During environmental scanning of a company, there is a thorough assessment into a complete global analysis. This involves companies, markets, clients, industries, and businesses in the same market. For this study will consider the trends, technological events, successes, and expectations in business.
The environment of any organization consists of internal and external factors. An organization should conduct a scan of its environment in order for it to determine development, and a forecast on the factors that may influence the success of the organization. Scanning the environment refers to the possession and utilization of the information that an organization has about trends, patterns, occasion and the external and internal relationship that are within an organization. A scan of the environment may assist the management team of an organization in making a decision about the future path of the
A Marketing strategy is necessary to develop and implement for all health care organizations. Rush University Medical Center in Chicago learned this lesson in the most difficult circumstances. The leadership assumed the reputation of the facility would be enough to stand up against all other health care facilities in the surrounding area; supplementary publicity or lobbying was necessary. As time passed on, it was very obvious by the drastic decrease in patient census and revenue that something had to change. The implementation of an environmental scan in that particular instance would greatly influence the facility in a positive manner. It is an approach that assists in the process of identifying and recognizing all the marketing elements involved. The first step of the environmental scan is an assessment of the five major environmental forces and trends. Next, evaluate the potential impact on the organization’s target market and adjust the organizations marketing mix strategy as appropriate (Berkowitz, 2011).
For any company to survive in the business environment, they must be accustomed toward any situation within the environment because of certain issues, perceptions, chances, and resources. These are such reasons every business must observe any applicable changes, which can occur within the environment and invent from existing policies to adjust toward variations. For any company to succeed the company will need to conquer the trials and tribulations of the constant shifting environment. An environmental scan were conducted for the two following companies Starbucks, and Cocoa Cola. With the environmental scanning it will increase their chances and distribute their
Competitive Forces: There is extra competitor corporation similar to Dell, Samsung and so on. The XYZ PVT must guide its participant as well as fulfil their buyer fulfilment. Most of the opponent has same creation and equal features with small cost of the creation. The XYZ PVT should be differentiating its creation between the customers.
To stay tuned to the recent situation in order not to miss perspective opportunities, an organization should go on with continuous scanning of its environment. According to Jobber, environmental scanning is “the process of monitoring and analyzing the marketing environment of a company” (Jobber, 2010, p.93). Aguilar states (Aguilar, 1967, cited in Costa, 1995, pp.4-5) that environmental scanning serves the purpose of gathering information about the facts and events happening around the company in order to let the management lead the organization in the right direction. Most of the authors agree on the same main function of environmental scanning.
Environmental scan in essence analyzes and evaluates the internal as well as external data and factors that influence the organization. Environmental scan entails the acknowledgment of a company’s environment that has potential effect on the organization’s operations and consequently, is critical in devising and implementing successful strategies. Apple Inc. is a leading international company that specializes in the production of computer software, commercial servers and consumer electronics. Its key products include iPhones, iPad, iPod and Mackintosh computers. The company has been in operation for the past 36 years.
Jamba Juice and its immediate competitors operate under the industry entitled “snack and nonalcoholic beverage bars” [ (U.S. Census Bureau) ]. According to the U.S. Census Bureau the official description of the snack and nonalcoholic beverage bars is as follows:
In summarizing it can be said that environmental scanning is important to the marketing planners in terms of assisting in formulation of objectives which in turn forms the basis for strategy formulation for the future.
PESTEL analysis is to identify and analyze the strategy and business environment, it is stand for Political, Economic, Social, Technological, Legal, and Environmental factors. This model is to assessing the current environment and potential changes. If
Suppose a new juice company is attempting to penetrate the market. In order for their brand to be recognized, they need to create a logo clearly shows what company they are, a logo that clearly shows what the product is and it all needs to be able to attract attention to potential buyers as they walk through the grocery store. Suppose a large corporation wants to ensure that their brand is still thought upon highly and not going out of style. What all these companies would traditionally conduct is a survey. They would ask the survey taker a question about their impression of a new design or current brand and compare it against other potential designs or competitors. However, these traditional surveys lacks one important element which is the first impression. When taking a survey, you rarely are under a time-limit and they will occasionally even ask the taker to type out their response. This method would completely drop their first impression since by then, the user would’ve had plenty of time to think about the product, something that may not happen when someone walks through the grocery store aisle and gives each bottle of juice only a passing glance.
The economic and social factors play a crucial role in determining monetary climate that the business operates in and the nature of consumption habits that prevail within that particular area concerning lifestyles. These social aspects help a business organization to evaluate potential changes brought about by their products in the market. Evans and Richardson (2007), insist that an enterprise must factor in technological solutions that it can introduce within the market it seeks to establish itself and research initiatives it can introduce to help improve its operations. The environmental factors should be assessed to establish potential impacts of the activities carried out by the organization in the environment. It is important for any enterprise to be familiar to all