Assignment Paper
Question 1
Conducting a market environment analysis to identify the Strength – Weaknesses – Opportunities – Threats (SWOT) of the food industry in Malaysia.
Market Environment Analysis.
What is Market Environment Analysis? Market environment analysis is an analysis of both, internal and external environments which related to an organization. An economical tool for conducting a market environment analysis is the Political, Economic, Socio Cultural and Technologies (PEST) tool. It is actually a yardstick for measuring a market environment looks at various listed factors, in a selected market with a view to finding out how they are related to the business nowadays.
On the other hand, a marketing environmental analysis is an essential step in understanding the external local, national or international forces that might affect a small business. These factors are largely outside our direct control, however can adapt the business and marketing strategy to take advantage of the opportunities they present while minimizing the potential threats. Another analysis which is commonly use to undertake such review beside PEST is PESTLE, which stand for Political, Economic, Social, Technology, Legal and Environmental factors, which need to be consider as well.
First step for applying the PEST to a market environment analysis is to conduct a study of the political factors that may either have a positive or negative effect towards the company. For example, the various codes and regulations imposed on different industrial sectors. This might be seen under the construction industrial sector.
What is the different between an Environmental Analysis and SWOT Analysis?
Normally few companies use several types of analyses as a barometer for health food business industry. Some would reveal on how the company can better utilize the cash flow, while others show how the price of inputs may double in the coming months. A SWOT analysis and an environmental analysis are the
Conducting a market environment analysis to identify the Strength – Weaknesses – Opportunities – Threats (SWOT) of the food industry in Malaysia.
Market Environment Analysis.
What is Market Environment Analysis? Market environment analysis is an analysis of both, internal and external environments which related to an organization. An economical tool for conducting a market environment analysis is the Political, Economic, Socio Cultural and Technologies (PEST) tool. It is actually a yardstick for measuring a market environment looks at various listed factors, in a selected market with a view to finding out how they are related to the business nowadays.
On the other hand, a marketing environmental analysis is an essential step in understanding the external local, national or international forces that might affect a small business. These factors are largely outside our direct control, however can adapt the business and marketing strategy to take advantage of the opportunities they present while minimizing the potential threats. Another analysis which is commonly use to undertake such review beside PEST is PESTLE, which stand for Political, Economic, Social, Technology, Legal and Environmental factors, which need to be consider as well.
First step for applying the PEST to a market environment analysis is to conduct a study of the political factors that may either have a positive or negative effect towards the company. For example, the various codes and regulations imposed on different industrial sectors. This might be seen under the construction industrial sector.
What is the different between an Environmental Analysis and SWOT Analysis?
Normally few companies use several types of analyses as a barometer for health food business industry. Some would reveal on how the company can better utilize the cash flow, while others show how the price of inputs may double in the coming months. A SWOT analysis and an environmental analysis are the