Analyse your brand’s external environment by applying the PESTLE framework. This analysis should focus on recent, current and future factors and trends that may impact, not only your chosen brand, but its category as a whole.
Answer the given question with a proper explanation and step-by-step solution.
You should undertake research using academically credible sources and apply appropriate academic models to carry out the first stage of a ‘marketing audit’ for krispy creme brand:
a) Analyse your brand’s external environment by applying the PESTLE framework. This analysis should focus on recent, current and future factors and trends that may impact, not only your chosen brand, but its category as a whole.
b) Analyse your brand’s performance environment by applying Porter’s Five Forces model to identify key information relating to competitors, suppliers, distributors/intermediaries and buyers (i.e. customers). This analysis should also apply marketing theory to describe how your brand currently segments the market and must include a ‘perceptual map’, you have created, demonstrating your brand’s current position within the market.
c) Analyse your brand’s internal environment by using Porter’s Value Chain as a framework to identify its existing competencies and weaknesses.
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