logo image

Different Marketing Techniques

This involves a thorough study of the broad trends within the economy and society, and a comprehensive analysis of markets, suppliers, competitors and the company itself. There are a number of marketing techniques that can be used in analyzing an organization’s environment. These include the following: SOOT Analysis: HTH I an overall evaluation off A I I This is II I it f company’s strengths, weaknesses, opportunities and threats. Strengths and Weaknesses are internal and can be controlled by the organization whilst

Opportunities and Threats are external. The objective of SOOT analysis is to identify and convert threats into opportunities and weaknesses into strengths. 1 SOOT ANALYSIS Strengths refer to an organization’s capabilities or aspects of its business that it does better than its competitors. For example: Coca Cola has a strong brand name Marks and Spencer is noted for its high quality products John Lewis for its high levels of customer service Apple for its product innovation Weaknesses refer to aspects of an organization’s activities that it does not excel in.

For example, Lid is criticizes for its poor customer service. McDonald’s for its ‘Junk food’ label 2 Virgin trains for lateness or delays to train times SOOT ANALYSIS (2) Opportunities

Need essay sample on "Different Marketing Techniques"? We will write a custom essay sample specifically for you for only $13.90/page

are aspects in the business environment that the organization can capitalist upon or take advantage of. For example, Tests using its huge customer database to offer or diversify non-grocery products such as insurance, credit cards and loans.

Threats are aspects in the business environment that pose a challenge or an hamper the organization from achieving its objectives. For example, Competitors Government legislations Natural disasters such as earthquakes or floods 3 Strengths Convene ret match Opportunities Con ever Weaknesses Threats Different Marketing Techniques Used to Analyze an Organization By Severna This is mainly used to analyses the wider macro-environment in which the business operates.

The organization will normally have no control over PESTLE factors and at best should try and accommodate and devise strategies around these factors or issues Political factors: Government stability Type of government T Ft Incidence of strikes Attitude of government officials Taxation policies Government policies Economic factors Interest rates Employment I E I t levels I Inflation rates Disposable incomes Energy availability and cost Business cycles Demand 5 PESTLE ANALYSIS (2) Socio-cultural factors Population demographics Lifestyles Levels of education Religion Aesthetics Language Attitudes and values Legal factors Monopolies isolation Foreign trade regulations Employment law Health and safety laws Technological factors Government spending on research Government and industry focus on technology Communication infrastructure Transport infrastructure Technological skills Rate of new product development Environmental factors Environmental protection laws Consumerism Green issues Social responsibility.

Read full document

Can’t wait to take that assignment burden offyour shoulders?

Let us know what it is and we will show you how it can be done!
×
Sorry, but copying text is forbidden on this website. If you need this or any other sample, please register
Signup & Access Essays

Already on Businessays? Login here

No, thanks. I prefer suffering on my own
Sorry, but copying text is forbidden on this website. If you need this or any other sample register now and get a free access to all papers, carefully proofread and edited by our experts.
Sign in / Sign up
No, thanks. I prefer suffering on my own
Not quite the topic you need?
We would be happy to write it
Join and witness the magic
Service Open At All Times
|
Complete Buyer Protection
|
Plagiarism-Free Writing

Emily from Businessays

Hi there, would you like to get such a paper? How about receiving a customized one? Check it out https://goo.gl/chNgQy