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Marketing Management - Today's business environment - Essay Example

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Today's business environment is increasingly becoming more turbulent, chaotic and challenging than ever before and to survive, it is vital that a firm can do something better than its competitors ( Wonglimpiyarat 2004:1). Globalisation has not only altered the nature and the intensity of competition but has had to dictate and shape organisations in terms of what consumers wants, how and when they want it and what they are prepared to pay for it (Hagan 1996:1).
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Marketing Management - Todays business environment
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Download file to see previous pages This is so because success is based on an organisation's ability to create, rather than predict the future by developing those products that will literally transform the way the world thinks and view it self and the needs (Kanter 1995:71).
Within the context of today's global competition, businesses and firms no-longer compete as individual companies but try to corporate with other businesses in their activities (Wu & Chien 2007:2). These researchers went further to argue that, this strategy has become quite common in many businesses including the retail clothing chain stores. The conventional vertical integrated company based business model is gradually being replaced by collaborative relationship between many fragmented, but complementary and specialized value stars and constellation (Wu & Chien:1).
This paper argues for the importation of a new technological home entertainment product Nintendo into the Australian market. The paper seeks to asses the product, the market positioning and competitor's analysis of the new products.
According to Johnson et al (2007), the SWOT Analysis, or sometimes known as the TOWS Matrix, is a strategic planning tool used to evaluate the strengths, weaknesses, opportunities, and threats involved in a project or in a business venture or in other situation of an organization or individual requiring a decision (Johnson et al 2007). Market analysis of competitors, suppliers, customers and potential opportunities has long been a competitive preparation of the staple firm (Johnson & Scholes 2007).
Strengths
High Growth Industry
Few direct competitors
Beautiful location
Stores will be located on short drive from populated areas
Distribution channels and resources already in place with hotel
A must have household products
My personal background in home entertainment and household name of the distributive channels in Australia
Wise environmental practices and community citizenship
Sustainable supply
5% of the products profit will be used to support community organization
Self directed teams self responsibilities
Haven entertainment for families
Unique service and product offerings
Weaknesses
Seasonal Fluctuations
Refurbishment costs
Insurance
Safety concerns
Others competitors such as Sony and Microsoft improving on their product chain everyday.
Opportunities
Expansion within grounds
Franchise possibilities
Strategic alliances
Technology
Extensive customer base
It is a must have household entertainment product that has made a name in Europe and the United States
Threats
Criticism
Poor public relations development
Rising interest rates on ...Download file to see next pagesRead More
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