ANALYSIS OF THE MARKETING ENVIRONMENT 7
Analysisof the Marketing Environment
ThesisStatement:marketing environment analysis determines the strength, weakness,opportunities, and threats in a business marketing strategy.
Marketingplan of Neechie Gear
Marketingenvironment analysis is a step that business uses to determine whatmight affect its businesses plans (Clarke, 2013). The analysisconsists of studying the national, foreign, local, and internationalforces. The elements tend to be outside the direct control ofbusiness managers. However, the business can adapt marketingstrategies to boosts its returns. The strategies include takingopportunities that the aspects present and minimizing threats. Theanalysis will entail both macro and micro environmental (Helms &Nixon, 2010). The macro environment contains the external factorsthat are beyond control (Clarke, 2013). The microenvironments are theinternal factors that an organization can manage. A PESTLE analysisis one of the common ways of adopting such reviews. PESTLE standsfor political, economic, the social, technological, legal, andenvironmental factors that one needs to consider (Helmset al., 2010).
Neechiegears’ marketer will use marketing environment analysis todetermine its strengths and weaknesses. The strength and weakness ofNeechie will help in creating a marketing plan (Simkin & Dibb,2012). The PESTLE analysis tends to be of significance as it willdetermine the microenvironments present at Neechie proximity(Simkin et al., 2012).
NeechieGears plans to utilize social aspect determining its strength andweaknesses. According to PESTLE analysis, social issues affect abusiness on one way or the other (Moro,2014).Business planning lies under consideration of different socialmodels. They include the way society adapts and changes over time.The differences in various communities also play vital roles inbusiness planning. Aspects such as gender, age, population, housingstandards and ethnic origin determine the strength of a business(Sevkli,Oztekin, Uysal,Torlak, Turkyilmaz & Delen, 2012).
NeechieGear promotes its brand through social entrepreneurship. They sponsorsports activities, which in turn give them a chance to sell theirbrands. The activities under Kendal steering benefited the Neechieand acted as one of the business strengths (Bourassa, Bruni-Bossion,Strom, and Swanson, & Zhang, n.d). The business will also plan toimplement environmental factors in planning for its marketstrategies. The company will engage in promotional activities thattend to promote its attitude towards environmental issues (Helmset al., 2010).They will include attitude from the locals and the entireenvironment.
Neechiegear tends to conserve the environment. The central theme will baseon adopting use of renewable energy. Since the company expects toshow a conservative nature, this attracts more customers. Similarly,the market tends to boosts it is marketing strategies by applying fornumerous awards. In case they are nominated then there brand will bemore attractive than their competitors will. The marketing strategywill also include the technological aspects. The marketing willinvolve online to promotions of the products. The internet willenable reaching adverse potential customers. The company will alsoinitiate use of software to manage its daily activities. Social mediasuch as Facebook will be incorporated to boost the marketingstrategies to supersede competitors. Neechie’s online store hasalso helped in reaching out many people through the use of internet(Apte, 2013). Similarly, its reputation in the market place andexpertise at partner’s level will boost its market strategies sincecustomers prefer to interact with great people with ethics (Sevkli,et al., 2012).
Onthe contrary, the Neechie Gears tends to face some weaknesses. Forinstance, during the period it collaborated with Kendal, expensesunderpinned the profits. Revenues escalated, and thus profitsdepreciated rapidly (Bourassa, n.d). For example, the rent andpayroll reports of the month Kendal marketed for Neechie cut thebenefits slowly. Therefore, the marketing plan will adamantly work onresolving this issue. Language barriers also contribute to theweaknesses the business will suffer. The targeted, ready markets aremuch of characterized with different languages. Therefore, themarketing strategy tends to face many difficulties. Neechie alsofaces shortage of consultants at an operation level rather than apartner’s level. The shortage tends to affect more of itsoperations (Sevkli,et al., 2012).
Thebusiness had the privilege to share its brand story to lots ofpeople. Therefore, this made them more conversant with the marketedbrands. The marketing plan will work on avoiding the threats frompolitical aspects. For example, high tax policies and other legalfactors may affect the prosperity of the business (Cadle et al.,2010). The factors mostly influence the business targets as they areunderpinned under strict rules. The business also has variousopportunities in planning for its market strategies. The company willtarget upcoming markets. They will include those in the westernCanada where their brand tends to capture more attention. The namesseem to gain attention of even the world customers. The businessstrategy will aim at focusing on the broad interest of its brands(Bourassa et al., n.d). Presence of well-established position thathas well defined niche tends to create opportunity for Neechie gear.In addition, the company has identified branding markets other thanlocal markets. These factors offer great opportunity for the businessadamantly (Sevkli,et al., 2012).
NeechieGear faces adamant threats from its competitors. Due to theappreciations in the aboriginal names, more competitors are set toemerge. Although, Neechie Gear believes that its advantages outweighsof other competitors. For instance, its promoter, Kendal, exhibitscharacters such as a role model and motivational speaker (Bourassa etal., n.d). Some of the Neechie Gear competitors include Tan’siclothing, Trickster, Rezmade, and many others. However, Neechie has acompetitive aspect that edges other competitors. The company alsofaces threat from large branding firms that work at a minor level.Further, there are other well established similar companies all overthe world. In fact, Neechie Gear is not among the most reckonedcompanies of the world thus, great competition (English,2013).
Apte,P. (2013). Diary of a Startup: Neechie Gear. Retrieved from http://specialtyretail.com/issue/2013/01/running-a-cart-or-kiosk/turnkeys- franchises- and-start-ups/diary-of-a-startup-neechie-gear/
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English,N. (2013). The 14 athletic wear companies that are actually good forthe world. Retrieved fromhttp://greatist.com/fitness/athletic-wear-companies-social-good