Measuring The Success Of A Company

1344 Words6 Pages
Measuring the success of a company can be a grueling process if not done correctly. Taking a closer look at the strengths, weaknesses, opportunities, threats (SWOT Analysis), the price, product, place, promotion (The Four P’s), the microenvironment and the demographics can give the company a deeper view of how well they are performing. Each analysis supplies adequate information for the company to make modifications to better serve their target market.
A firm addressing the strengths and weaknesses of their company should first analyze the internal operations, focusing on aspects such as, “marketing, financial, manufacturing, and organizational competencies” (Kotler 73). They need to decide if their marketing strategies are working, and one example of how to do this is by having a “how did you hear about us” section on a survey at the restaurant or hotel. This lets the company know how customers are hearing about them and decide whether or not to continue with their current marketing strategies. The marketing goal the company may want to consider is differentiating their products to meet more customer needs. Apple does an incredible job of this because they have a wide variety of products and excel in all of them. Instead of simply selling desktop computers, they decided to make laptops, cellphones, headphones, watches, and television pairing devices.
On the other hand, a firm addressing their opportunities and threats needs to first look at the micro and macro
Get Access