Conduct a marketing analysis of Ecostore
Conduct a marketing analysis of Ecostore https://www.ecostore.com.au/
SWOT Analysis SWOT stands for Strengths, Weaknesses, Opportunities and Threats. It is a way of summarizing the current state of a company and helping to devise a plan for the future, one that employs the existing strengths, redresses existing weaknesses, exploits opportunities and defends against threats.
Strengths Your strengths are usually easy to identify, through your continuing dialogue with customers and suppliers. Your records (eg sales) will also help to indicate areas where you are particularly strong (eg rising sales for a particular product). For most businesses, strengths will fall into four distinct categories. 1. Sound finances may give you advantages over your competitors. 2. Marketing may be the key to your success. For example, your business may enjoy: ? Market leadership in a profitable niche. ? A good reputation and a strong brand name. ? An established customer base. ? A strong product range. ? Effective research and development, use of design and innovation. ? A skilled salesforce. ? Thorough after-sales service. ? Protected intellectual property (eg registered designs, patented products). 3. Management and personnel skills and systems may provide equally important underpinnings for success. 4. Strengths in production may include the right premises and plant, and good sources of materials or sub-assemblies.
Weaknesses Your weaknesses are often known but ignored. A SWOT analysis should be the starting point for tackling underperformance in your business
1. Poor financial management may result in situations 2. Lack of marketing focus may lead to: ? A limited or outdated product range. ? Unresponsive attitudes to customer requirements. ? Complacency and a failure to innovate. ? Over-reliance on a few customers.
3. Management and personnel weaknesses are often hard to recognise, except with hindsight. 4. Inefficient production, premises and plant can undermine any business, however hard people work.
Opportunities External changes provide opportunities that well managed businesses can turn to their advantage. 1. Changes involving organisations and individuals which directly affect your business may open up completely new possibilities 2. The broader business environment may shift in your favour. This may be caused by: ? Political, legislative or regulatory change. ? Economic trends. ? Social developments. ? New technology. (SLEPT factors)
Threats Threats can be minor or can have the potential to destroy the business. 1. Changes involving organisations and individuals that directly affect your business can have far-reaching effects. 2. The broader business environment may alter to your disadvantage. SLEPT + Competitors
Action The results of SWOT analysis ? and the action needed ? will be different for every business. Strengths
Address your weaknesses.
Capitalise on opportunities that play to your strengths.
Protect yourself against threats.
BUS5SMM Marketing Assignment
Individual Marketing Assignment- Report
– Worth 40% – 2500 words, maximum 2750 words – Times New Roman 12-point font, double line spacing – Harvard referencing- 15-20 references expected – Due: Week 12 Thursday at 11.30pm via Turnitin (After 11.30pm late penalties will
Aim: Conduct a marketing analysis of Ecostore
Aim: A study of the marketing environment and strategy of Ecostore
– Describe the marketing background of the company that includes key information
about the industry indicating where the company fits and/or positions itself paying
special attention to sustainable practices- environment, society, resources use, etc
(10%) – Describe the following marketing strategies used by the company ? Analyse the main products, services, suppliers and customers of the
company (10%) ? pricing (10%) ? promotion (10%) ? distribution (10%) – Compare the marketing mix to its competitors (10%) – Make recommendations for improvement of marketing mix for product(s) to
become more competitive- Include relevant sustainability aspects (20%)
Appendix: Include a SWOT analysis and positioning chart (10%)
Report writing and referencing (10%)