Executive Summary: Dynatrix is a handheld device similar to a cell phone used to measure pulse rates during periods of rest and physical activity. The utility model has the merits of digital interface, advanced 2TB storage, the whole network connected with a built-in heart rate monitor, oxygen readings, pedometer, blood pressure readings and built-in scale record weight of 500 grams or less. It also provides users with databases that track physical activity during exercise, and gives readers immediate access to the ten week integrated personal training and nutrition program. In the 25-50 year old age group, people are very popular, and they are mainly concerned with maintaining a healthy lifestyle. In 2011, Mike started his business called …show more content…
SWOT analysis is a method which will assist Mike to understand his company’s strengths and weaknesses and recognise the opportunities and threats surrounding his business. Using the PESTEL approach, Mike’s Dynatrix Pty. Ltd will be able to identify the macro-environmental problems in relation to politics, economics, society, technology, environment and legality. Likewise, in identifying a firm’s strategy, Chirantan Basu (Chron) also emphasis on the difference between positioning and value propositions in marketing strategies. He refers to value propositions as an actual type of emotional benefits that products and services offer to customers, while positioning comes from value propositions which will describe the reasons why customers should choose a certain kind of products rather than the …show more content…
On the other hand, Potter (1980) integrated the value chain as a comprehensive collection of activities designed, produced, sold, delivered and supported’. It is a strategic and analytical tool which Mike should apply to create the value for customers and recognise competitive advantages for his business, therefore in the process achieving the company’s goals as well as maximising its profits. The value chain analysis includes business activities divided into two categories as described below: Primary Activities – Mike’s Dynatrix should operate their selling via retail stores which will help the customers to see the products physically before buying and it would be more flexible and will facilitate consumers to obtain their products more easily, rather relying on phones or fax for orders. It should improve their marketing strategies on sales and customer services. It needs proper marketing based actives to carry out its operations, in retail stores to approach and attract more customers in a certain area. Otherwise, customer service is a very important aspect that Mike’s entity should focus on as they have received an increased amount of complaints regarding delay in
Executive Summary- Allround is the leading medical product for cold in the OTC market. It is the most frequent purchase with a high conversation ratio, though the retention ratio has been decreasing, along with market share. Some competitors have introduced new products, and Allround is slowly waning having reached maturity. Therefore, the OCM Marketing team has developed a long term Marketing mix strategy until 10th period.
The company has established good relationships with most of its customers which has assisted it to create high level of brand and customer loyalty
It has also established a distinguishable name among its competitors with a reputation for leading customer service. However, even as an established venture, the company needs to maximize its profits in order to stay in business and expand into new territories beyond its conquered boundaries. A strategic analysis was carried out by our team to establish the company’s current situation. A SWOT analysis was performed to come up with three referenced, strategic alternatives. These alternatives are meant to act as strategic guidance to the company in order to enhance growth.
The SWOT analysis: The study of the firm's Strengths, Weaknesses, Opportunities and Threats called SWOT analysis, a key step in flushing out known performance issues that are important to the growth of the organization addressed in the corporation strategic plan. The issues identified in the SWOT analysis help leadership to come up with a plan and strategy to achieve the overall mission of the company (Strategic Planning, n, d). Target Corporation is one of the largest public retailing company in the US having more than 1700 stores serving guests nationwide. Target group and its brand position are evaluated in the market using SWOT analysis.--
A SWOT analysis is simple exercise that could be implemented on multiple subjects including an individual or a whole corporation. The SWOT analysis is an operational tool for managing change, defining strategic direction and setting realistic goals and objectives according to Simoneaux and Stroud (2011). Discovering new opportunities and manage and eliminate threats that are present in the company and the surrounding market. SWOT is a valuable technique that leads to a better understanding of the strengths, weaknesses, opportunities and treats both internally and externally. The strengths and weakness are to be considered internal factors and opportunities and threats to be e...
Qualitative research provides insight into developing phenomena or offers a new perspective on current trends. Prior to the creation of a dynamic strategic plan, the SWOT analysis offers a critical assessment of an organization’s competitive position, though the four areas of assessment are not weighted, nor does the utilization of the tool provide specific direction for the organization and requires subjective interpretation of the data. Input from stakeholders brings validity to the information gathered while conducting a SWOT
The definition of SWOT analysis is comprehensively summaries the internal and external conditions, critical evaluate advantages and disadvantages of organization, facing the opportunities and threats, in order to the combination of company 's strategy and internal resources and external environment (Yuan, 2013). In contrast, SWOT analysis method is a descriptive model, because the enterprise strategy is often a typical uncertainty problem, the lack of adequate analysis and logic, and a SWOT analysis cannot provide the specifically, format of strategic advice (David,
Management experience will also play a large role in the success of the forecast. The current team is quite new and will gain some needed experience over the next year in the hopes of staying on track for success. The ability of management to ensure product is readily available for the client, their training techniques with new and seasoned associates, and general management style will ensure success or spell defeat for the store.
By the end of 1998 though, there was evidence of a crisis occurring. Customers and media pulled together to assist senior management partake in an internal audit to identify the problems and see if they could come to a solution. The purpose of this assignment is to construct a SWOT analysis, highlighting each of the strengths, weaknesses, opportunities and threats that were highlighted in the internal audit. The SWOT analysis is contained within the marketing plan and is the third step in the marketing planning process, coming after the Marketing audit and before any assumptions. (Joisce, Ted (2002), Marketing Planning Lecture Notes – 14/10/02, Mission, Objectives, Strategy, Tactics)
A SWOT analysis is used to assess a company’s strengths and weaknesses found within the company, as well as opportunities and threats that emerge from the external environment. In this analysis, the main strengths, weaknesses, opportunities, and threats facing the Ford Motor Company will be discussed to provide a powerful analysis tool that supports the planning process for marketers.
To get started, we first need to understand what Crocs' value chain is and how that process plays a role in the strategic direction of the company. The authors of our text, views the value chain as "the entire series of organizational work activities that add value at each step, from raw materials to finished product. In its entirety, the value chain can encompass supplier's suppliers to the customer's customers"(Robbins & Coulter, 2009, p.430). At Crocs, the entire series of organization work activities may be broken down even further using Porter's value chain model of viewing a manufacturing (or service) primary and secondary activities as a "system made up of subsystems, each with inputs, transformation processes and outputs"(Ifm.eng.cam.ac.uk, 2011). A diagram, compliments of Porter(1985) can be seen below:
Strengths ToolsCorp Corporation offers high quality and fast-speed services. The organization has come up with strategies aimed at increasing its speed including coming up with network connections, making use of data computing system that is high-tech, as well as increasing its investments on R&D, around Tennessee as well as internationally. This mode that is oriented on technology ensures safe delivery and fast speed, which the organization has identified as to provide the organization with a competitive advantage. Efficient and effective management; the branches that the organization has around Tennessee are all that the organization has and this implies that it has tight control over all its branches in the region. In case the organization
Rocketrip Provides Excellent Travel Budget Solutions Business trips can be highly expensive if the employees and the management of the company do not have an effective travel plan. Additionally, the market may fluctuate and increase the cost of traveling for employees to the seminars or other official trips. These factors may increase the expenditure of the firm which can lower the annual profits. Rocketrip provides a real-time budget and a plan that helps in cutting the travel costs. Rocketrip is a great company headquartered in New York City in the USA that assists firms and employees on how to save on business travels efficiently.
test whatever it's a bad effect or not. So when it used on humans, we
The SWOT analysis is a useful tool for identifying our personal strengths, weaknesses, opportunities, and threats to our plans and goals. According to a “Fuel My Motivation” article (2010), this analysis considers internal influences that can positively or negatively affect our ability to achieve our goals. The internal factors are our strengths and weaknesses. Also considered are opportunities and threats, which are external influences that can have a positive or negative impact on the ability to achieve our goals. I will share how the self-assessment instruments and self-exercises in this course have contributed to assessing and understanding my strengths and weaknesses. I will also discuss techniques I will use to leverage my strengths and understand my weaknesses. In addition, I will consider opportunities that I can take advantage of and the threats that can possibly impede my progress.