Assignment Instructions/ Description
Shared Activity: Marketing Audits Using SWOT and PESTLE Analyses
This fourth unit offers one assessment – an online discussion or ‘Shared Activity’, taking place in the Discussion Forum. This is worth 10% of the overall module grade. Your initial post should be completed by Day 7 of this unit.
The marketing audit is, essentially, composed of two elements: an internal and an external analysis. Both attempt to capture how well an organisation is doing in terms of the skills, tactics and strategies used in marketing its products or services. Once this baseline is established, an organisation can develop a plan of action (Jobber and Ellis-Chadwick, 2013).
One tool for synthesising information gathered through a marketing audit is a SWOT analysis. SWOT stands for strengths, weaknesses, opportunities and threats. This information is typically portrayed as a matrix in which each category is listed in its respective cell to give a quick overview of a business’s strategic position (Jobber and Ellis-Chadwick, 2013). For example, an organisation might list a strength as being one of the first to develop a particular product, such as Amazon’s Kindle – one of the first e-readers. Numerous other similar e-readers, such as the Barnes & Noble NOOK, quickly threatened Amazon’s market edge.
A SWOT analysis is a strategic tool that should not be viewed in a vacuum with only marketing in mind; an organisation’s other business operations, such as its production and staffing capabilities, also affect and are affected by marketing strengths.
Likewise, the external environment is divided into the distant and near environments (also known as macro- and microenvironment or distal and proximal). The distant and near environments are associated with two analysis models respectively: the PESTLE (political, economic, social, technological, legal and environmental) or one of its many variations and Porter’s 5 Forces model. It is essential to analyse both the distant and near environments to make informed decisions about the market for products and brands. An external analysis may also be used for control and evaluation purposes throughout a product’s life cycle.
In the field of marketing, the distant environment is perceived as being composed of broad forces. An external analysis can also be performed in a new market to establish what an organisation would need to do to be ready to break into that market. Each of the PESTLE forces is briefly described in this unit’s Learn section, accompanied by some questions that organisations should attempt to answer through analysis. These forces are also addressed in more depth in the Readings.
In this Shared Activity, you will be conducting an abbreviated marketing audit through SWOT and PESTLE analyses focusing on the internal and external environments of the organisation you selected in Unit 3.
References
Dillon, W. R., T. J. Madden, A. Kirmani & S. Mukherjee, (2001) ‘Understanding What's in a Brand Rating: A Model for Assessing Brand and Attribute Effects and Their Relationship to Brand Equity’, Journal of Marketing Research, 38 (4) pp.415-429
Lee, M.-Y., D. Knight & Y.-K. Kim, (2008) ‘Brand Analysis of a US Global Brand in Comparison with Domestic Brands in Mexico, Korea, and Japan’, Journal of Product & Brand Management, 17 (3) pp.163-174
To prepare for this Shared Activity:
Review Figures 2.2, 2.3 and 2.4 in Chapter 2 of the module text. Consider the strengths and weaknesses of the organisation owning the brand you selected in Unit 3 from the Interbrand Web site.
Review the Sample Marketing Audit Checklist in your Readings for ideas on what to analyse.
Using online or other sources, explore SWOT analyses. Choose one or tailor one so that it makes sense to use for your organisation.
To complete this Shared Activity:
By Day 7:
Publish one initial post (650-800 words) to cover two concepts of your learnings this week:
1. Using a SWOT Analysis (approx. 400 words)
Conduct an internal audit on your selected organisation’s marketing strategy using a SWOT analysis. Identify the strengths, weaknesses, threats and opportunities you identified in the organisation’s internal environment using a SWOT matrix. Identify at least three items for each SWOT category.
As you compose your response, you should explain the strengths, weaknesses, opportunities and threats related to the internal environment of your selected organisation at the overall organisational level. Could any of the items that you listed cross different cells? For example, could something be both a strength and weakness, or strength and an opportunity? If so, explain, using concrete examples.
2. Using a PESTLE Analysis (approx. 400 words)
In the same posting, and as a separate 400-word analysis:
Review Chapter 3 from the module text. Consider the environmental responses listed, such as ignorance, delay and retrenchment for your discussion on amelioration strategies for environmental issues. Research similar PESTLE tools in the Readings and online.
Post the completed PESTLE tool you found through your research or created on your own.
Complete the PESTLE analysis on the external environment of your chosen organisation. Critically analyse your findings on the external environment of the organisation. Describe insights you gleaned from the analysis. Did you notice any issues? Describe the specific area of the PESTLE analysis in which they were found and what might be done to ameliorate them. What potential environmental issues not addressed in this PESTLE analysis might need to be researched?
Based on your analysis, determine the likelihood of success and the impact of marketing the proposed product in the selected area.
Be sure to support your postings with evidence from the Readings and other current literature from the University of Roehampton Library and other credible sources. Consult the Harvard Referencing Style Guide for proper citation and referencing information. It is critical that you learn to cite resources often and appropriately following the University of Roehampton-approved Harvard Style early enough, so that will feel confident using this style elsewhere in this module
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