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Chapter 2 - Analysing the Business Markets and its Environment

by: KUMIKO Notetaker

Chapter 2 - Analysing the Business Markets and its Environment B216

Marketplace > Republic Polytechnic > Social Science > B216 > Chapter 2 Analysing the Business Markets and its Environment
KUMIKO Notetaker
Gerrard Ong

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Hi guys! Hopefully my detailed note of lesson 2 is helpful for you!
Gerrard Ong
Class Notes
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This 4 page Class Notes was uploaded by KUMIKO Notetaker on Friday September 18, 2015. The Class Notes belongs to B216 at Republic Polytechnic taught by Gerrard Ong in Summer 2015. Since its upload, it has received 29 views. For similar materials see Marketing in Social Science at Republic Polytechnic.


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Date Created: 09/18/15
ghapter 2 Analysing the Business Markets and its Environment Marketing Environment 1 Macroenvironment external and uncontrollable PESTLE a Political Political stability 0 Government transparency Government support and subsidy b Economic Spending power of consumers Stability of economy or banks39 interest rates c Sociocultural Religion or culture Values beliefs habits and behaviour d Technology 0 Relevant current and future technology innovations Global communication and technological advances e Legal Taxation or tariff Legislation changes f Environmental nature Recycling considerations Attitudes to the environment from the government media and consumers 1 Microenvironment within the rm39s control a Internal environmental The company Refers to the internal environment of the company All departments such as management nance research amp development purchasing operations and accounting b External environmental Suppliers An important aspect of the microenvironment Marketing intermediaries Refers to resellers physical distribution rms marketing services agencies and nancial intermediaries Helps the company to promote sell and distribute its products to nal buyers Competitors Develops a strategic advantage over the competitors PubHcs Refers to any group that has an interest in or impact on the organization39s ability to meet its goals 0 Customers Different types of customer markets such as consumer markets business markets government markets international markets and reseller markets SWOT Analysis 0 Understand its strengths and weaknesses Ho Immediate and future opportunities and threats Strengths S A resource or capability controlled by or available to a rm that gives it an advantage relative to its competitors in meeting the needs of the customers it serves Weaknesses W A limitation or de ciency in one or more of a rm39s resources or capabilities relative to its competitors that create a disadvantage in effectively meeting customer needs Opportunities 0 A major favourable situation in a rm39s environment For examples changes in competitive or regulatory circumstances technological changes and improved buyer or supplier relationships Threats T A major unfavourable situation in a rm39s environment For examples the entrance of new competitors slow market growth increased bargaining power of key buyers or suppliers and technological changes SWOT analysis matrix Strengths Weaknesses Opportunities Threats Internal External Forces Forces Develop to 50 Strategy ST Strategy W0 Strategy WT Strategy Concept Diagram The a Company if r 7 Suppliers a Micro enmilrolnm A 7 Em lariceting 7 39 i nltaermedil Strengths W0 Strategy Uppertunitiea Threats Strategy 9 Environmental Practice Questions 1 What is the difference between using PESTLE and SWOT 2 Since all these tools are used for environment scanning analysis and strategies formulation will you recommend the company to choose anyone of them for their analysis Why or why not 3 SWOT should be a A general list of issues under each heading b Focused on key issues and as speci c as possible c Completed when an analysis of the external environment has been conducted d The best strategic management framework for analysing the competitive positioning of an organization 2 Which one of the following options is not part of Marigold Milk39s micro environment a Cold Storage b Distributors c Legislators d Dutch Lady Milk 2 Which of the following results from an environmental scan will affect 7Up a Coke Company comes up with a new avour called quotCocaUpquot b Sugar cane farmers in China supply sugar for 7Up raise the price collectively c Retailers demand a higher commission d All of the options 2 Refer to your own detailed information a Use the SWOT analysis matrix to help yourself analyse your own study attitudes b Based on the analysis done in a recommend some strategies to match the SO Strategy ST Strategy WO Strategy and WT Strategy Learning Outcomes 1 Identify and examine the various components Internal External Analysis of following tools to evaluate the business environment PESTLE SWOT 2 Evaluate and apply how these factors in uence a company39s business and marketing decisions Need answers Feel free to drop me an email 15043445 myrpedusg


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