Process of the environmental analysis, Marketing Management

Assignment Help:

Procedure of the environmental analysis:

Step 1: assess the nature of the environment: it is useful to take a view of the nature of the organization's environment in terms of how uncertain it is. Is it relatively static or does it show signs of the change, and in what ways, and is it simple or complex to comprehend? This helps in deciding what focus of the rest of the analysis is to take.

Step 2: audit, environmental influences: the aim is to identify which of the many different environmental influences have been affected the organization's development or performance in the past it may also be helpful to construct pictures or scenario of possible futures to consider the extent to which strategies might need to change.

Step 3: identify key competitive forces through structural analysis: it aims to identify the key forces at work in the immediate or competitive environment and why they are significant.

Step 4: identify strategic position: it means to analyze the organization's strategic position, how it stands in relation to those other organization's competing for the same resources or customers, as itself. This may be done in number of ways:

1.       Competitor analysis

2.       Strategic group analysis, in terms of the simplifications and dissimilarities of the strategic they follow:

3.       The analysis of the market segments and the market power

4.       Building on growth or share analysis

5.       Attractiveness analysis

Step 5: identify key opportunities and threats: develop and understanding of the opportunities which can be built upon the threats which have to be overcome or circumvented. An understanding which needs to be considered in terms of the resource in terms of the resource base of the organization and which will contribute to strategy choice is very important. 


Related Discussions:- Process of the environmental analysis

Please help!!, A student can play 0,1, 2 hours of racquet ball on any give...

A student can play 0,1, 2 hours of racquet ball on any given night. Construct a tree diagram to determine the number of ways that three night he can play for a total of five hours

Illustrates role of publics in microenvironment of a company, Illustrates t...

Illustrates the role of publics in microenvironment of a company? Publics: Any group which has an actual or potential interest within or impact on an organization’s abil

What is place strategies, What is Place Strategies? Explain about such in d...

What is Place Strategies? Explain about such in details. Place Strategies: Economic, reliable and efficient transportation and distribution of goods and services has play

Methods of preparing advertisement budget, Q. Methods of preparing advertis...

Q. Methods of preparing advertisement Budget? Every advertiser sets apart a total of money to be spent on advertising which is referred to as advertising appropriation. The amo

Explain major factors influencing the purchasing behaviour, Problem 1: ...

Problem 1: Discuss how the three elements of the extended marketing mix relating specifically to people, process, and physical evidence affect the marketing of services. Pr

Discuss the concepts relationship and loyalty marketing, Question 1: (a...

Question 1: (a) Critically discuss the concept "Communications Strategy". Support your answer with relevant examples. (b) Using relevant examples, explain the term "Sales

Marketing Management, Marketing Management, Marketing ManagementDoes market...

Marketing Management, Marketing ManagementDoes marketing exist solely to increase profit? If this is the case, then marketing in nonprofit organizations can be said to be useless.

Illustrate ethical aspects of advertising, Q. Illustrate ethical aspects of...

Q. Illustrate ethical aspects of advertising? 1) Effect on culture: - Culture demotes to the way of life of group of people. It comprises life customs, morals, style, values,

Explain in detail the various steps in menu costing, Question 1: You ha...

Question 1: You have just been appointed as Food & Beverage Controller of a medium -size hotel and you have been requested to set up a new control system. (i) Explain in d

Product/market expansion grid, Product/Market Expansion Grid Companies...

Product/Market Expansion Grid Companies should be looking to the future always. One useful device for recognizing growth opportunities for the future is the product/market exp

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd