Strategic Marketing Pl Pestle Framework And Swot

Upon completion of my undergraduate degree in Aviation Management, I will pursue a career with a major airline. Not only will I realize a life long dream but also it will be a personal accomplishment in an academic road that was often complicated. Ideals may change, values do not and some things just take a little more time to achieve.

Ehlers (2009) argues that effective strategic marketing plans need to begin with a comprehensive analysis of a company’s current operational environment to identify the relevant opportunities, threats, strengths and weaknesses. Walker (2012) argues that identifying all potential macro trends that will influence decision making through the use of both qualitative and quantitative data will help companies determine the markets attractiveness. Kew and Stredwick (2008, p. 319) believe that factors incorporated within the STEEPLE model (i.e. social, technological, environmental, political, legal and ethical) can be used to help develop a company’s SWOT, determine a company’s strategic position and help that company predict possible circumstances they may encounter. Implementing

An external analysis looks at the general macro environment and industry attractiveness. A PESTEL analysis will be used to look at the macro environment and Porter’s Five Forces framework will follow to provide a clearer picture of industry attractiveness.

The aim of this paper is to critically evaluate the SWOT analysis as one of popular tools in marketing. SWOT analysis is an analysis method of identifying all external and internal factors for organization strategies (Rauch, 2007). It is considered in this paper that though SWOT analysis has limitations, it can be improved to be more effective as its development. This paper firstly focused on the definition of SWOT analysis. And then it discussed the context of the SWOT analysis including its evolution and its applications. Followed by, the paper introduced two relevant practice cases based on SWOT analysis. Next, the critical evaluation of SWOT analysis was presented with

This tool is used to measure and evaluate the macro-environment elements that may pose a threat to a firm. These elements affect firm’s business strategies. The PESTLE framework therefore judges 6 elements that influence the operating environment of the firm. These are political, economic, social, technology, environment and legal. These factors are all inter-reliant. For example, changes in the legal structure of an economy may affect the way a firm operates in that economy. There are other frameworks such as PEST, STEEP, STEEPLE, STEPJE, STEP AND LEPEST which firms can choose from depending on their nature of operations and the factors which are of interest to them (Morrison, 2013, Pg. 44-46; Johnson et

PESTLE refers to all political, economic, social, technology, legal and environmental factors affecting any industry. The purpose of PESTLE analysis is to study the external environment factors facing any industry

Porter's Five Forces can be applied to particular companies, market segments and industries with the step-by-step analysis of market structure and competitive situation. First of all, when implementing this module in organizations, it is necessary to determine the scope of the market to be analyzed. Following, all relevant forces for this market analyzed and key forces are identified (Gerry and Kevan, P.117). Actually some organizational strategy and the longer-term goals are mainly based on or consistent with the key forces. Hence, it is not necessary to analyze all elements of all competitive forces with the same depth. Moreover, the key forces in the competitive environment will vary in different industry. Different forces take on prominence in shaping competition in each industry (Porter,

Strengths: Target has a lot of services and product as well as red card which use for 5% save and free freight. Company’s website includes entire store and provide plenty of offers in every week. Many features like ability of verifying if product is in a particular location. For client refreshment providers inside target Coffee house. Though, online strike was a black section in Target’s history, still able to sustain clients even after data violation. They provide give 5% of benefit to local neighborhoods.

Market research systematically collects and analyzes relevant information about the target market, thereby investigating the target market, and its segmentation and trends. A complete market research consists of three stages with distinct objectives: exploratory, descriptive, and causal researches. In exploratory research, preliminary information will be systematically gathered, screened, and analyzed. In descriptive research, the key issues that affect the target market will be subsequently identified and then the corresponding hypotheses will be formulated. Finally, in the causal research, the proposed hypotheses will be tested. In addition, the Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis is a commonly used tool for market research. Through a thorough market research, the need of customers, market size, and competition will be revealed, which will help the company to make decisions on whether a new market can be created, and how and when to approach the target market.

        In order to run a thriving business, you must be very knowledgeable about your customers, operation, competitors and the environment. When it comes to market planning many important factors must be taken into consideration. According to the business dictionary market planning is the procedure of examining one or more of prospective marketplaces in order to decide how business can compete with them. The marketing planning procedure normally concludes with a marketing strategy that can be used to increase sales for the business making it. This essay will discuss the SWOT analysis in regards to marketing planning, and its importance in the planning procedure

Marketing planning is the process that enterprises focus on customers’ needs, organize various business activities, through concerted mutual product strategy, pricing strategy, promotion strategy and placing strategy to provide customers with satisfactory goods and services, and then achieve business goals (Piercy & Morgan, 1994). Some scholars think that adopting benchmarking in marketing planning is easier to lead imitation. Enterprises tend to set competitor 's marketing activities as templates, and use similar product strategy, pricing strategy, promotion strategy and placing strategy with competitors (Zhou, 2006). It is not conducive to long-term development. And it is unable to highlight the advantages and characteristics of enterprises. Other scholars argue that benchmarking is not equivalent to imitation. It learned from advanced enterprises, at the same time, it was compatible with the characteristics in innovation. Enterprises will find the most suitable strategies in marketing planning. In other words, benchmarking is valuable as well in marketing planning (Vorhies & Morgan, 2005). And this view is agreed in this article. Learning the industry or other industries marketing methods has become a good way to expand sales. Benchmarking contribute to the marketing planning. The values are addressed below.

LV has a longstanding tradition of quality, innovation and heritage of over 150 years by following three rules which were: to master the savoir faire, to provide excellent service to customers and to innovate continuously. The corporation has also produced an online market used as a channel to provide access to a larger customer base. To boost sales the online marketplace should be opened to China and other Asian markets since these markets possess large populations. LV has also advanced the efficiency of its production system through the introduction of manufacturing methods motivated by the lean production techniques utilized by Toyota Motors. At its peak, efficiency was enhanced by 5 per cent per year, through a more sustainable rate was assumed to be 3 per cent per year. To optimize this strength the company must grow and increase production, in order to reduce its costs and become more profitable. The corporation has also lessened the level of specialization of an employee and trained employees in various activities. This can be improved by hiring fewer workers since the company can shift groups to manufacture different products in response to changes in demand. Marketing and advertising can have a tremendous influence on the value perceived by consumers and hence the willingness to pay more for the company’s offerings. The LV lifestyle is sought after by consumers. LV products send the image of wealth and convey exclusivity. It

In this competitive world, it is necessary to be updated about all perspectives to run an organization. Organization can do different analysis such as PESTLE, Porter five forces, Value chain; to know the market demand andessentially of the products. On the other hand organization should have their strategies and knowledge about the market. Strategic management is the process to get different terms of planning, monitoring, analysing and assessments which are necessary to operate an organization. In the other word, it can be defined as the continue processof making decision and actions by which organization can match or fit with different environments for the most effective way to work (Hitt, 2012).Strategic management can be

History, products and services-in 1998 Nick Swinmurn was walking around a mall in San Francisco looking for a certain pair of shoes. Problem was he had to keep going to different stores because apparently if one store had the right color but not the right size or had right size and not the right color. Frustrated that he couldn’t get the shoes he wanted he went home and tried to see if any mom and pop stores selling online had the shoes, turns out none did and nick realized there weren’t any major retailers online who specialized in shoes. So seeing both a need and an opportunity, nick quit his job and started an online shoe retailer, shoesite.com. Not wanting to prevent business from being able to expand into other product categories, he needed to change the name of shoesite.com. he asked now CEO Tony Hsieh about using the word Zappos as the new name which comes from the spanish word zapatos which means shoes. then after some brainstorming they decided on Zappos. Sure enough, as Zappos has grown, so has its selection. Founded in footwear, today’s offerings continue to evolve and include clothing, accessories,

For any marketing plan to be successful, it must take into account all the various factors that can directly or indirectly affect the marketing activity which is usually done through Political, Economic, Social and Technological analysis commonly known as the PEST analysis. (Kotler, 2011) . It addition to conducting PEST analysis the plan should also include the four areas that is widely known as the marketing mix or fours P’s. Product, Price, Place (distribution) and Promotion. (Net MBA, 2010) .