SWOT Stands for Strengths, Weaknesses, Opportunities’ and Threats of a organization. SWOT analysis determines what may support the firm in every critical ways in which they can achieve its objectives and what difficulties must be taken down to achieve the objectives. SWOT analysis is a basic factor of an organization that evaluates what an organization is capable of and what it is not capable of. SWOT analysis is a way to receive all kind of the information from the external and internal environmental issues of a particular organization. It shows up a difference what could the business lead to improvements in a particular based analysis, what it will show up in future and the difficulties it will face. It is a technique used to help the marketing department.
Strengths – This factor is the capabilities that can be performed in a business to increase in productivity and sales, It shows up what a firm is capable of and what it is not likewise:-
- Effective sales and marketing - Strong leadership
- Political Support - Good reputation
- Qualified Research and development - Economies of scale
Weaknesses – This factor shows in what condition and situation the businesses are weak, what the business will launch in further and what will be its side effects, the absence of certain strengths can be viewed as a weakness. Likewise:-
- Lack of trained faculty - Poor quality
- Focusing into mega products - Many competitors at similar production
- Weak Image / Reputation - Low investment in infrastructure
Opportunity – This factor concludes all the chances that a business has to expand its business or expand its sale...
... middle of paper ...
...the similar product or replicated over changes.
- Segments should be large enough to attract consumers with their choices of production and to gain profit.
- Segment should be available and easily get to the channels of communication and distribution, to have transportation, sales activity to reach to its consumers.
- Segments should have all marketing mix variables to achieve its objectives and to respond to consumer changes.
ii) Explain Targeting.
Targeting in a marketing term is the advertising and marketing promotion that is targeted for a particular group of potential buyers and people, such as relating to their age, gender, and region. It mostly depends on the process that involves breaking a markets product into different segments; it focuses on how they will sell their products and services to a specific buyer and the new users of the product.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Part B Task 2 Outcome 2 – Apply market segmentation processes 2. Identify and apply the segmentation bases both markets according to the segmentation variables for each of the following: a) Geographic b) Demographic c) Psychographic d) Behavioural usage Segmentation of the markets: Geographic:-. Geographic segmentation play very important role for the company and people as well because Air New Zealand provides an indication according to different geographic regions like states cities and according to population also.... [tags: Marketing, Psychographic, Market segmentation]
2662 words (7.6 pages)
- INTRODUCTION Most of businesses today have diverted from defining their market as a single entity instead they are broken down into small pieces Known as segments; the objective of this assignment is to explain the different Market segments and its benefits. In other to get a clearer view about this assignment a deeper look on what are the various kinds of segmentations and their significance in the market will be brought up. This research will be mainly focused in Nestlé’s company and how it operates.... [tags: market, socio-demographic groups]
1721 words (4.9 pages)
- An Overview of Market Segmentation: basis, evaluations and issues It was pointed out by researchers that business from all industry sectors uses market segmentation in their marketing and strategic planning nowadays. (Dibb, 1998, p.394) Among marketing activities, marketing segmentation is virtual for company success. Researchers have found that the companies without a clear idea of the nature of the target segment the firm using a ‘scatter-shot approach ' to marketing strategic decision making are with little chance to success.... [tags: Marketing, Market segmentation, Marketing research]
1448 words (4.1 pages)
- SEGMENTATION ANALYSIS: Segmentation Division Resulting segments Target % Advantages Drawbacks Geography • Location • Market size • Market density • Climate 40% • Effective approach with limited budgets • It works well in different areas of population density or significant changes in lifestyle across regions • It is quite limited as it assumes that all consumer are in similar needs Demography • Age • Gender • Income • Social class 30% • It is simple to apply and use, as government statistical data is readily available in most countries • It is easy for everybody to understand, from management to customer service staff • It is very little understanding of the consumer • Consumers in the same... [tags: market, geographic, demographic]
549 words (1.6 pages)
- If you've studied marketing or spent any time hanging around marketing geeks, then you know something, probably quite a bit, about "consumer segmentation". It is one of the fundamental tools of modern marketing. Segmentation is simply the process of dividing your potential customers into different groups, the notion being that it is easier and more effective to tailor an offering to a relatively small group of people with similar wants and needs than it is to try to mass-market something to the world.... [tags: Business Marketing Segmentation]
738 words (2.1 pages)
- ... As for economy segment, the brands include Courtyard, Farfield Inn & Suites, and Springhill Suites. Marriott continues to expand their business through targeting the right price segment to attract more customers and as an example of that; recently, Marriott expands its brand in the economy price segment by collaborating with Ikea to introduce Moxy hotels (Mayock, 2013). Marriott and Ikea intend to add 150 franchised Moxy hotels in Europe within the next 9 years. Benefit segmentation exists to segment customers based on their desire or sought benefits.... [tags: case study, business analysis]
1348 words (3.9 pages)
- Costco-Market Segmentation Overview: Every company and/or organization starts and operates to achieve a single major goal, which is normally included in the company’s mission statement. Setting a goal, however, does not translate into success on its own; it is only the fist step. Understanding market segmentation is the second most important aspect of doing business. “Sellers and advertisers want to be able to determine what the potential market is for their product or service, as well as the best ways to reach potential consumers” (Terrell, 2013).... [tags: business analysis]
1495 words (4.3 pages)
- The central purpose of writing this Case Study Analyses on The Gap, Inc. is to identify and isolate key issues and their underlying implications and offer practical solutions and plans for implementing those solutions. This will be done by highlighting the social influences that influence the Gap, Inc. marketing strategy, segmentation strategies with respect to distinct retail markets, and positioning strategies that can be used or changed in a retail setting, as requested in the course assignment (as cited in the course module).... [tags: Business Analysis Strategy Management]
1660 words (4.7 pages)
- Introduction: In this assignment I will write many things about segmentation. It will include an explanation of what segmentation is and how it works in companies. I will also include some examples to help explain and analyse why segmentation is very important to all businesses including my chosen company. During this assignment I will also explain the relevance of segmentation to my chosen company and how they use it as part of an overall marketing strategy. Description of segmentation: The purpose of market segmentation is to divide a large market into smaller parts in which the consumers have similar characteristics and needs for goods and services.... [tags: Companies, Businesses, Marketing Strategies]
1511 words (4.3 pages)
- Market Segmentation What is Segmentation. Market segmentation is the practice of dividing a market into identifiable groups of customers with common characteristics and motivations. This is so that each group can be treated independantly, tailoring the marketing mix to meet the needs of each segment. Furthermore, opportunities for new products and any niche markets are highlighted. Segmentation also portrays which segemets are doing well, which are likey profitable to be profitable/worth pursuing, which segments need additional marketing support and which should be ignored.... [tags: Business Management Studies]
882 words (2.5 pages)