Due Sunday By 7:30 pm Assignment: Activities 1-3

Activity2-SWOTAnalysis.docx

Home >Business & Finance homework help >Marketing homework help >Due Sunday By 7:30 pm Assignment: Activities 1-3

Your current situation will be driven from the analysis in your audit. The following sections are suggestions on what to include, but you only need to include the analysis which will become the foundation of your plan. It’s important to review all of your internal and external environments to highlight where you need to focus in order to improve your competitive situation.

External Enviromental Analysis

Factor

What’s Happening

Impact

Term

Options Moving Forward

Social

Resale is somewhat a new category in Northern Michigan. So we are educating the consumer not just on or brand but the concept as a whole.

A higher advertising budget overall, more time meeting face to face and educating the consumer.

This is a on ongoing process 1-3 years.

Mix our social and paid media with offline platforms and more face to face events as well.

Technological

We are instore sales only.

Use online platforms to show product and drive instore sales.

Long-term

Use our social platforms and digital media to communicate our value proposition

Economic

We are a startup so we work on smaller budgets.

We need to be strategic on where we spend our $.

Short and longterm

Investigate media opportunities that are best value for us.

Families are strained financially.

We provide a service where shoppers can buy and sell product to us. Saving them $.

Longterm

Communicate our Buy, Sell and Repeat model.

Environment

We are a resale store ultimately we recycle clothing.

Good for environment, goof for bank account.

Longterm

Communicate buy, sell and repeat model.

Political

We keep our eyes on tax policies and current events.

Have to understand how political changes affect our sales and marketing tactics.

Longterm

Monitor activity

How do tax policies, wages affect our business.

Tax and wages effect earning and our marketing budget.

Short and longterm

Stay tuned to activity

Legal

No major legal issues at the moment

None

Longterm

Monitor activity

Ethical

We have a commitment to our customers to be transparent with our policies.

Communicate policies for both buying and selling. Continue to add value to our shoppers.

Longterm

Continue to add value and communicate our company proposition.

You may also choose to use Porters 5 forces to outline your external environments: Just do one or the other no need for both.

FORCE

WHAT’S HAPPENING?

PRESSURE

IMPACT

Competitive rivalry

new competitor

high

less market share

Bargaining power of customers

Bargaining power of suppliers

Threat of new entrants

Threat of substitute products

Factor	What’s Happening	Impact	Term	Options Moving Forward
Social	Resale is somewhat a new category in Northern Michigan. So we are educating the consumer not just on or brand but the concept as a whole.	A higher advertising budget overall, more time meeting face to face and educating the consumer.	This is a on ongoing process 1-3 years.	Mix our social and paid media with offline platforms and more face to face events as well.

Technological	We are instore sales only.	Use online platforms to show product and drive instore sales.	Long-term	Use our social platforms and digital media to communicate our value proposition

Economic	We are a startup so we work on smaller budgets.	We need to be strategic on where we spend our $.	Short and longterm	Investigate media opportunities that are best value for us.
	Families are strained financially.	We provide a service where shoppers can buy and sell product to us. Saving them $.	Longterm	Communicate our Buy, Sell and Repeat model.
Environment	We are a resale store ultimately we recycle clothing.	Good for environment, goof for bank account.	Longterm	Communicate buy, sell and repeat model.

Political	We keep our eyes on tax policies and current events.	Have to understand how political changes affect our sales and marketing tactics.	Longterm	Monitor activity
	How do tax policies, wages affect our business.	Tax and wages effect earning and our marketing budget.	Short and longterm	Stay tuned to activity
Legal	No major legal issues at the moment	None	Longterm	Monitor activity

Ethical	We have a commitment to our customers to be transparent with our policies.	Communicate policies for both buying and selling. Continue to add value to our shoppers.	Longterm	Continue to add value and communicate our company proposition.

FORCE	WHAT’S HAPPENING?	PRESSURE	IMPACT
Competitive rivalry	new competitor	high	less market share
Bargaining power of customers
Bargaining power of suppliers
Threat of new entrants
Threat of substitute products