In the business world, outsiders from other companies may jump in and help a company get back on its feet by introducing new concepts. In my Entrepreneurship, Marketing, and Finance class, I completed a project which implemented this concept. The project involved taking on the role of a magazine company “Pechaitis Marketing”. Classmates were paired up by the luck of the draw and were instructed to blindly pick an envelope which contained a magazine. Each group had to take on the role of representatives from Pechaitis Marketing. Their goal was to help the magazine by creating a SWOT analysis, customer analysis using market segmentation (demographics, geographics, psychographics and behavior components) and customer profile. My group selected
Being the group leader allowed me to keep the group on task and moving forward so each day was as productive as possible. We began with the SWOT analysis because it was the hardest and would essentially take the longest. Designed to help a business strive, a SWOT analysis organizes strengths, weaknesses, opportunities, and threats of the organization. One of the opportunities brainstormed was to expand the target market to men by creating a male edition after discovering that a reasonable percentage of readers are men. Another opportunity was to have more celebrity involvement because even though celebrities are pictured on the cover of each edition, they do not have their own article depicting facts about him or herself nor tips for readers. Strengths consisted of being well-known and containing real-life personal stories. Too many advertisements, and having a misleading title, were some weaknesses of ‘Good Housekeeping’. Lastly, some threats were the surrounding competition such as ‘Women’s Day’ and ‘Womens Health’. All of our ideas for the SWOT analysis were unique and personal as a result of spending one class day (2-hour span)
While this seems like a lot of work, the rubric we were given included the specific pieces and parts of each segment (demographics, psychographics, behavioral and geographics) which broke the segments down in a easy-to-understand manner. The customer analysis needed to be shown through words so we typed out each portion with word art and cut them out, glueing them in an organized fashion with demographics in one corner, while psychographics were neatly organized in another.
Lastly, after the SWOT analysis and customer analysis were completed, we began to think of ideas for the customer profile piece which was to be presented in an artistic manner. This was supposed to look like a poster that could potentially be hung in the office of the magazine company chosen. Being someone who is not that artistically inclined as were my group members, we took to the internet researching ideas for a magazine collage. We brainstormed a few ideas after the google search. The artistic piece was a large part of our grade so it needed to be visually appealing and encompassing who the target market was through
High quality ingredients, various things on menu, make the food right infront of you; handcrafted preparation
Strengths for Duquesne University would be that it is nationally ranked number 115. This is a number that can beat many competitors and creates benefits for those that attend. Classes that have fewer than twenty students is 40.9% and classes that have fifty or more students is only at 9%.. (http://colleges.usnews.rankingsandreviews.com/best-colleges/duquesne-university-3258/rankings). Duquesne is located in Pittsburgh Pennsylvania and is known to be one of the top places to live in the country. Pittsburgh is considered the most livable and resilient. There is a young crowd that could be an interest for young adults, also this city is considered to be the third safest cities in the states (https://fitt.co/pittsburgh/pittsburgh-best-city/). Religious values are what many people look for to keep that connect they have with their beliefs, having these values instilled in the curriculum could be a benefit view for parents and students.
The National Collegiate Athletic Association is an organization that some universities are a part of, but not recommended to join. It is a non-profit association that regulates athletics of institutions, conferences, organizations, and individuals. It organizes the athletic programs of colleges and universities in the United States. It is designed to help prolong the lifelong success of college athletes. There are 1,121 college and universities, 99 conferences, and 39 affiliated organizations. There are over 460,000 athletes that make up the 19,000 teams that participated in over 54,000 competitions each year. My SWOT analysis will identify the strengths, weaknesses, opportunities and threats facing the association, when it comes to its daily business, finances, and rules and regulations of this organization.
As a business in a competitive market we must be able to determine what may assist us to accomplish our objectives? What obstacles we must overcome or minimise to achieve our desired results? To achieve this we must carry out a strategic plan, which is a straightforward model known as a SWOT analysis (strengths, weakness, opportunities and threats). This will help us to establish our overall strategic position, based on internal issues (strengths and weakness) and external issues (opportunities and threats).
“A market segment consists of a group of customers who share a similar set of needs and wants. The marketer’s task is to identify the appropriate number and nature of market segment and decide ...
Have you ever wondered where the saying, ‘a picture says a thousand words’, come from? Well, I do not know who came up with this fantastic phrase, but nonetheless, I will be describing and analyzing two different magazine advertisements, trying to put in words what I think the advertisers wanted consumers to receive when those potential buyers viewed their ads. The two advertisements that I chose, Caress and Secret, try to encourage female consumers of all ages to purchase their hygiene products. Although both ads, Caress and Secret, appeal to the same gender with hygiene goods, they differ in design, text, and message. They attempt to please the female buyer with color, texture, and sexuality. This makes it prevalent, that the agents must grab the attention of possible buyers in order to sell their product. The advertisers must choose a variety of marketing strategies to the reach their targeted consumers.
Actively listening- ( 3:42) (4:26) There were a couple instances where Travis seems distracted in the call and misses key information the client provides, resulting in the client repeating himself. We should remain focused and engaged in our call to guide the client through the process and acknowledge all info stated by the client.
Segmentation variables can be classified into four major classes; geographic, demographic, psychographic and behavioural. The use of these categories either individually or in combination assists companies to identify and establish market segments which is relevant to the product or service they are offering. This in turn helps these organisations to evaluate the relevant segments to choose the pertinent target market.
The Costco case shows that their business continues to grow and expand. The company now has operations in many overseas locations. Costco is one of the biggest retail companies on earth (Gregory, 2017). Costco has the fundamental strengths to take advantage of unseen opportunities in the retail industry. The company’s low prices make it attractive even when there are economic difficulties. Costco has a basic strategy, which centers on driving sales. This company drive is why Costco is the most prosperous business in the discount store space.
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.
Have you ever looked through a magazine and found it to be really interesting? That is because you are part of its target audience. You are part of a group of people that the magazine is trying to appeal to. There is a reason Sports Illustrated is more of a man’s magazine and Family Circle is more of a woman’s magazine. The people that run that magazine put certain things in those magazines to attract their audience. More commonly, men are interested in sports and anything to do with sports. In Sports Illustrated, the reader would find sports, and that is it. The reader would not find an article titled “How working women balance their careers and home lives.” An article such as that would be found in a magazine like Family Circle, as it is targeted more towards women who have a family. For the purpose of this audience visual analysis, I will be discussing the October 8th, 2012 issue of People magazine. Looking at this issue and reading through the magazine, it is evident that the publishers do have a target audience in mind. This visual analysis will discuss who its target audience is and how the reader can tell. Also, the essay will discuss how the magazine makes the advertisements relevant to its audience.
Segmentation is the process of determining the breakdown of the target market into smaller specific variables that make it easier to evaluate. Gabbott M (2004, p 159) describes the consumer related segmentation variables as being Geodemographic, Psychographic and Behavioural.
This reflective essay will critically review my personal and professional skills that I am less confident in whilst in practise, which is essential for communication and developing effective relationships with others in an organization and even for personal development. The skills identified for improvement was highlighted in a skills audit for communication and effective relationships. A SWOT analysis was carried out to focus on the skills recognised, where finally an action plan was made to address how to improve the skills, what the challenges would be to develop them and how it is beneficial. The skills audit, SWOT analysis and the action plan are included as an appendices. It will also apply communication theories to
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.
test whatever it's a bad effect or not. So when it used on humans, we