MBA COHORT 1 ADELEKAN TEMITOPE A. 1323260
INTRODUCTION.
This essay goes to analyse and discuss the various marketing tool or we can refer the marketing tools as strategic management tools. The two (2) marketing tools I’ll be talking about are Ansoff Matrix and SWOT analysis in other to simply demonstrate the competitive advantage and also show the ways in which it is involved in making the strategic business unit in an exceedingly market sector.
Company to be analysed: MTN NIGERIA A PART OF MTN GROUP LIMITED.
Sector: TELECOMMUNICATION.
MTN Nigeria Communication Limited is the Africa’s leading telecommunication company in Nigeria. The best in telecommunication services in Nigeria, very innovative with subsists on the core value of leadership integrity and good relationship. It is the first GSM network in Nigeria having over 47 million subscriber and with a market share of 47.5% ( MTN Annual Report 2012).
ANSOFF MATRIX
The Ansoff business analysis tool decides on the very best method for promoting growth through marketing new or current products to new or current market. Ansoff’s growth strategy is divided into 4 quadrants namely:
Market Penetration – Selling current products or services to current customers (Markets).
Product Development – Selling current products or services to new customers Markets).
Market Development – Selling new products or services to current customers (Markets).
Diversification – Selling new products or services to new customers (Market).
The tool helps marketers to examine threats in the development of new product and expansion into new markets. One of its major advantage is that it helps organisation minimize risks and exposing them future opportunities. The Y axis of the quadrant which can be seen be...
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...twork challenges. According Hill and Westbrook (1997) and Menon et al (1999), they said that SWOT matrix may harm performance. In a situation where employees of the organisation are not honest about the organisation's weaknesses, the organisation is doomed to failure.
In my own observation, SWOT analysis is a very useful tool used at the business planning stage and also, SWOT should be part of any organisation's annual business review. On the other side, Ansoff matrix helps established organisations to have a clear path of the future. Also, it is of much benefit to winning organisation and not failing ones.
Conclusively, since MTN is an established organisation it is better to use Ansoff matrix because it explores the possibility for business development. Aside that, its strategy is towards directional strategic growth for winning brands and not the struggling ones.
SWOT Analysis, also called situational analysis, stands for “strengths, weaknesses, opportunities, and threats and is an assessment of the strengths and weaknesses in an organization’s internal environment and the opportunities and threats in its external environment” (Crawford, 10/6) SWOT Analysis allows Serve Up Smoothies as a company to properly observe both our internal and external environments and realize how we can benefit from them or see how they can harm us.
SWOT analysis is useful to identify Macy’s strengths, weaknesses, opportunities and threats. In addition, it would enable Macy’s to identify its internal and external influences.
Based on Table 4, the major strengths highlighted are the new venture’s experienced and knowledgeable management team and its unique product offering. The MD understands the marketing environment and thus, capitalizing on this opportunity (after assessing its viability in section 3.1) to meet customer demands. However, the major weakness is the lack of funds to market the product so initiate
What is a SWOT analysis? This concept involves assisting businesses to identify their strengths, weaknesses, opportunities and threats. It is often used to analyze an organization and its environment. Businesses find the analysis useful in assisting them to improve their business, establish goals and objectives.
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...
On the Ansoff matrix below is shown what growth strategies for new and existing products and markets can be used from the company.
Each section of Ansoff's matrix shows a strategy which would be used in times with what you are doing. For example this is particularly relevant to Apple. Apple found a new market with an existing product. It decided to sell its laptops to a new market. Instead of promoting the power of the portable Mac to the middle of the road businessman who perhaps only needs a word processor and does not need a powerful laptop so originally it didn't take off. Instead it marketed as to a younger audience who saw it as a stylish yet powerful tool alternative to the laptop which in terms style was old fashioned. When the product was marketed to a different audience it stood out and it proved a very successful move in terms of sale. Another example of Apple's understanding of the matrix was its use of the iPod. The iPod has proved to be very successful due to its diversification. At the time of iPod's release there was nothing on the market that was similar to it in terms of style and capacity of songs. So therefore it was different to both a cd player and minidisk, which at the time were it's nearest rivals, and in this proved a very popular move and although it is a particularly high risk strategy it Apple would have had proven popularity in several different markets. This also applies to the PC market. Although Apple had originally had success in the war against PC's recently there had been much less success and PC had dominated households and businesses. However Apple recently diversified yet again and turned to a very user friendly product called a G5. The G5 leads the world in creating a new product for an old market. The PC market comes into threat because of a G5 which is essentially a touch screen computer without the need of a mouse etc. so it would be very useful in terms of businesses. There would be without the mandatory clicking which is notorious in businesses such as call centers and the G5 is similar in price to a PC yet is much more user friendly and takes much more space.
“Managing strategically means formulating and implementing strategies that allow an organization to develop and maintain a competitive advantage—what sets an organization apart or what is its competitive edge.” (). By conducting a strategic analysis will allow This report provides a strategic analysis, execution, and evaluation of our corporation, Subway. With this report we are able to see what needs to be amended in our company in order to be more successful.
SWOT is the simple tool which really helps the company to know how it is working through the environmental. Strength and weakness is the internal environment and opportunities and threats are the external environment. With the help the organization how it can overcome the obstacles and minimize desired results and finally it helps the firm to accomplish its objectives.
The SWOT analysis is a useful and time-tested leadership tool to assess a system's Strengths, Weakness, Opportunities, and Threats to find areas of vulnerability that needs improvement or development. (Blayney 2008)
The SWOT analysis is a method used to evaluate the attributes (of a particular company) that will support the firm's effort in achieving their goals as well as the attributes that will weaken the company.
A SWOT analysis is a measure tool to summarize a company’s internal and external aspects. By measuring the company’s strengths, weaknesses, opportunities and threats and looking for improving solutions by using the strengths and opportunities to improve on the weaknesses and take the necessary actions concerning any threats a company can survive in today’s world market.
SWOT analysis is a necessary tool for business that allows corporations to analyze where their strengths, weaknesses, opportunities and threats lie. The SWOT tool contains paramount information about the industry and helps the executives of the business make decisions that are necessary for the business’s survival and success.
This work will determine the baseline of the current market situation for the company, which is essential for any further exercise and analysis. To understand how the business model correlates with the product marketing, need to see if there is any evident cause-effect relationship between product characteristics and the nature of the product company. If such correlation exists, it will be important to see the transition of such characteristics into the company marketing strategy. It can show how company’s strategies can be successfully addressed in a real-world scenario. Both internal and external analysis, SWOT matrix will help to determine the company’s current market position.
“The Ansoff Matrix (appendix C) shows four different growth strategies that result by combining existing or new products with existing or new markets: market penetration, market development, product development,and diversification” (Fadaei, 2014).