diff_months: 20

MKT503 Environmental Analysis and Marketing Strategies

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Added on: 2022-08-20 00:00:00
Order Code: 439701
Question Task Id: 0

Assessment Description

This assignment builds on the second assessment. You are now required to thoroughly analyse the marketing environment of the brand (focusing on corporate brand, i.e. the company producing/owning the brand) that you analysed in Assessment 2, including the external macroenvironment and internal environment. From this analysis, you need to identify key strengths and weaknesses (internal to the brand/company) as well as opportunities and threats (external to the brand/company), and then suggest marketing strategies to mitigate risk and materialise the opportunities. Please note that this assessment is based on the activities performed in Assessment 2 and some secondary research, so you don't necessarily have to conduct market visits for this assessment.

Essentially, you are required to perform the following tasks:

  1. Conduct a thorough external macroenvironmental scan of the corporate brand/company, using PESTEL analysis.
  2. From PESTEL analysis and the analysis of customers and competitors in assessment1, identify key forces (opportunities and threats) that may affect your brand/company strategy.
  3. Conduct a thorough internal environmental scan of your main brand and analyse elements of organisational culture, vision, mission, values, long-term strategic orientation, and capabilities (core competence and resources).
  4. From the analysis of the internal environment, identify key strengths and vulnerabilities (weaknesses) that may affect your brand/company performance.
  5. Suggest how you can use your Strengths to mitigate the effect of Threats and materialise the Opportunities. Also, recommend strategies to strengthen your weaknesses and avoid Threats by utilising Opportunities. Use the TOWS matrix provided in the appendix.

Report Format and Specific Tasks

The following format can be used to present the findings:

Title: Provide a captivating title that attracts readers Table of Contents (not included in the word limit) Executive Summary: An executive summary of the report, including the research approach and findings. (not included in the word limit)

  1. Introduction: What is the purpose of the report? Any background information relating to the report? What will your report cover?
  2. Background: Provide a background of the selected corporate brand/company, its product/brand portfolio, key competitors, global presence and market share (if possible). Use secondary information sources (with appropriate citations) to retrieve information.
  3. Analysis of Marketing Environment:
    • Conduct a comprehensive external macro-environmental analysis of the corporate brand/company. Use the PESTEL framework, including political, economic, socio-cultural, technological, environmental (natural) and legal analysis. Based on this analysis and the analysis of customers and competitors in the second assignment, identify the brand's opportunities and threats.
    • Conduct a thorough internal environmental analysis of the corporate brand/company. Internal environmental forces may include, but not limited to, organisational culture, vision, mission, values, long-term strategic orientation, products and services, business partners, and capabilities (core competences and resources). Based on this analysis, identify the brand's strengths and weaknesses. NB uses secondary information sources from industry/company reports, the brand website, competitors ' websites, and other secondary sources to reflect on the external environmental and internal environment of the brand. (Subject Learning Outcome 1, 2, 3 & 5).
  4. TOWS Matrix Strategies: Explain in detail how organisational abilities (Strengths)can be used to pursue potential Opportunities and counter disabilities (Weaknesses)and Threats. Use the TOWS matrix tool provided in Appendix A for a succinct description of strategies. (Subject Learning Outcome 1). (approximately 725 words) 5. Conclusion: Summarise key findings of the report (i.e. specific points and findings the report came up with).
  • Uploaded By : Abhi
  • Posted on : June 21st, 2022
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