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AVCE Business - marketting

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Introduction

AVCE Business Unit - 3 Marketing Brief Four I plan to produce a SWOT analysis, PEST analysis and a Competitive Audit on Milo. This is because I'm going to need to produce a good analysis on the market place, if I intend to create the best marketing strategy. This is important because there are a range of options available when creating a marketing strategy. Without these analytical processes I will not be able to identify, which strategy is appropriate. I am going to produce a SWOT analysis to find out how effective Milo is operating and what internal factors may influence its success. A SWOT analysis analyses the internal factors that may influence the success of a business. The initials SWOT stand for: Strengths Weaknesses Opportunities Threats Strengths and Weaknesses are internal factors within the control of the organisation. Opportunities and Threats are outside the control of the organisation. For example, products offered by competitors, or market forces such as seasonal fluctuations in demand. It enables an organisation to plan future activities by considering a number of questions such as: * What are our Strengths? How can we build on them to ensure that we offer a better product than our competitors? ...read more.

Middle

changes in the market may possibly be anticipated * It indicates whether business has improved or not Disadvantages * May be erroneous * Expensive (takes time to produce) * Problems in the PEST analysis cannot be rectified as they are all external issues Here is a PEST analysis on Milo: Political * Stay within the law (being aware of legislation health and safety, advertising standards, consumer protection, trades description * Restriction on imports * Government back 'Milo' as an energy drink Economical * Exchange rates (what are they here/abroad, If your buying from another country and the rates differs, it changes the price you end up paying) * Taxes (if they go up so will the costs for consumers) * Recession (people have less disposable income - would they buy Milo?) * Inflation (prices go up for the company and for the consumer) Social * Society more aware of healthy lifestyle/rise in fitness industry * More focus on leisure time * More disposable (can afford to buy luxury goods) income * Fashion (could Milo be the next fashionable drink) Technological * Advanced in technology change product/packaging/flavours * Advance in science (add to Milo formula more energy/healthier) * Advances in production technology (more efficient + better quality/ less staff required = cheaper for Nestle = cheaper for customers) ...read more.

Conclusion

is green * Only website promotion is available in the UK * Good sponsorship and adverts in Australia * Advertising on TV, bill boards etc * Sponsorships for large sports events * Last sponsor was the Rugby World Cup * Buy one get on free * 25% extra free etc * Boosts performance makes athletes go 25% longer * Advertisements on T.V, internet websites, bill boards, magazines, etc. To conclude all three process (SWOT, PEST and Competitive Audit) have affected my strategy and marketing decisions. The SWOT analysis has help me to acknowledge and comprehend my weaknesses, which will be a benefit because now I know my weaknesses all I need now is search for a way to eliminate them. The PEST analysis has drawn my awareness to the external forces that may have an influence on the product (Milo). Therefore, when making marketing decisions the factors found will be taking into consideration. The competitive Audit has showed me where Milo's competitors are (what level they are on) which is also a benefit because I can see what I'm up against, what I have to do to get ahead and whether I'm disadvantaged in anyway. This is very important in the competitive environment because as a competitor, you cannot allow rivals to gain advantages in any form or way. ...read more.

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