Analyses of Internal Environment Assignment

Situation Analysis

Table of Contents
INTRODUCTION...........................................................................................................................1
ANALYSES OF EXTERNAL ENVIRONMENT..........................................................................1
ANALYSES OF INTERNAL ENVIRONMENT...........................................................................2
RECOMMENDATION...................................................................................................................4
CONCLUSION................................................................................................................................6
APPENDIX......................................................................................................................................7
REFERACESS.................................................................................................................................8

INTRODUCTION
Marketing is the process of analyzing and gathering the information about Market in the
search of any product or service so they can develop their product according to the market and
offer to the customers and also discuss about new baby products which will impact on the
company This report will analyze the market theories of the Iconic company like pestle analyze
, swot analyze, ansoff model and marketing mix. In the second question this report will analyze
and evaluate the customer needs to create value for the customers by developing the resources of
the organization in the best possible ways.
ANALYSES OF EXTERNAL ENVIRONMENT
Pastel analysis
Political Factor
Political Factors usually affect to The Iconic because It is an popular Australian online
stores and they have to pay taxes and tariffs to the Australian government with the change in
government tax structure also change Abashe, (2016). The Iconic is also famous in the other
countries as well and each and every countries have difference in the tax structure and different
currency rates this all directly affect to the companies profitability.
Economic Factors
Economy of the Australia is strong and it allow customers to buy product from the iconic
Febrian & et.al., (2017). Maturity of the people in Australia is employed and they able to spent
money for their clothes and basic need it is affecting the growth of the Iconic company.
Social factors
The social factors also have an important role in the growth of The Iconic company
social factors affect the demand of the products (Jin and Cedrola 2019). The Iconic provide the
online marketing stores it is beneficial for them because now most of the people do shopping
from their home they do not want to go out side and the Iconic is an famous online fashion brand
they provide home delivery facility to their customers. they are giving a good deal to the
customer and this is an main attraction.
Technological
The Iconic is looking to use the technology to expand their reach. They are most popular
retailers of the Australia , they have money as will enough audience needed to get most of the
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data. The Iconic is looking for a more data and finding the more better ways to reach customers
in online and offline both.
Legal
It is important for Iconic to follow the legal Rules and regulation like other business. The
Iconic company is following the government rules and regulation in the result they are getting
profits from the Australian government. It is important for them to follow the rules so they can
satisfy their customers as well. They should have all the legal document of the company so they
can sell their products legally.
Environmental
the Iconic is selling products in the market from their profit they providing help to the
people who are poor and they are doing charity for Australian people (Terho & et.al., (2015). It
is helping them to increase their reputation in the market.
ANALYSES OF INTERNAL ENVIRONMENT
Swot analyses of the Iconic
Strength
Iconic is one of the popular brand in Australia. They are having better reach to
the their customers as compare to the other online stores in Australia. The best thing about
Iconic is that they are selling quality product to the customers and customers are satisfied with
their product. They have established their brand in all over the Australia and they have a good
customer reach and their supply chain management is very low cost and even their
manufacturing operational process are vertically integrated PANDEY (2017). They are having a
strong presence in the market through the online stores and website and their online platform
makes The Iconic a popular brand name. Their designs are unique and trendy so they are able to
attract customers. Apart from the fashion clothes they are also selling sports clothes and many
more related to the sport, they are giving a competition to the big brands in the Australia who are
already famous all over the world.
Weaknesses
The Iconic do not have reach on the global market they only establish their brands in
Australia , limited advertising in the market as compare to the other brands Velhinho (2017).
They are not having market strategies for the international market. they are not following now
strategies according to the market. Most most the products are costly then the market price and in
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the result they are loosing their customers. They are paying less salaries to the employees and
with the customers they are also loosing their talented customers
Opportunity
If they expand their industry to the all over the world then they can make new customers
in all over the world and they will earn more revenue as compare to the domestic market. There
are more opportunities for company if they make store because maturity of the people do not
trust on the online sides thy prefer offline shopping more then online PANDEY (2017). The
lower inflation in rate can bring more stability I the market they can give credit facility to the
customers on low interest rates. The new policy in the taxation they ways doing business and
also can open new opportunity for established players such as The iconic company to increase
its profitability. Company can adopt the information technological so they can give more
competition to the others.
Tows matrix
Tows matrix is an part of the SWOT analysis model this model is stands for the internal
strengths and weakness of an organization and external opportunity and threats that the company
is confronted with. This tool is not only helpful higher level of management in The Iconic . It is
also useful tool for department like marketing and sales as well.
External opportunities External Threats
Internal Strength
company have reputation in
the online market
online market is creating
opportunities in company
growth. The Iconic brand
helps to in online business
they are growing in online
market but they are losing
offline market
Internal Weakness Company is using cost
strategies and that can
minimize opportunities.
Online trust issue can be
threats for company.
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The Iconic Ansoff Matrix
Market Prediction
The Iconic company's new business plans focus on the design of the baby product and
the promotion of the baby products in the market. They are predicting the proper market for this
product according to the market they will decide the price rage and categories for those products
it can be a growth opportunity for them if they choose right strategies Chin & Alodin (2019).
Without market prediction they cannot make new product they have to see all the ups and down
of the market and best market where they can promote their product.
Product development
After the product development it is important for the company to develop their product
according to the market they are lunching new baby product in the market so They have to
decide the right price for the baby product and quality of the product. There are already many
baby product selling retailer in the market they have to develop their product more attractive and
better quality so they can compete with the others. They have to make product which will be
comfortable for the baby and the design should be better.
Market development
The Iconic have to promote their product so the customer can be aware about the new
product of the company It will be better if they advertise their product on the T.V because it is
best ways to attract audience Chin & Alodin (2019). they can also also advertise on the social
media platforms like Facebook , tweeter and Instagram it will be less costly for the company and
they can attract adults to by buy product for their baby.
RECOMMENDATION
Product
The Iconic is one of the luxury fashion libel in Australia. They are offering product to
Men,women and kids as well. They are selling jeans, shoes ,bags and many more accessories
Sikora, (2018). The Iconic should concentrate on sustainable development and should try to
reduce waste in the manufacturing process.
Price
Product of the Iconic are high in the quality and less in the price. Company is providing
many offers on their online stores and they are giving credits so customers can spent those points
in future for shopping. They are spending amount of money on product advertising and row
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material. They have overall low cost structure compare to the other retailers. They are using
market price strategies they set the price according to the customers willing to pay. They should
give product in less price as compare to the market price of the same products and they are
giving competition to their competitors.
Place
It should sell their product on online they are having lots of customers through online.
Most of the people from Australia are doing their shopping from The Iconic Sikora (2018).
They are establishing their brand to the all over the work so they can make customer from global
market. It will be affect on their probability and they will make new customers from the global
market.
Promotion
Advertising strategies of The Iconic are following ;
The Iconic company should spend amount of money on their product advertising. They
are targeting their market through the advertisement Febrian & et.al., (2017). Company should
promote quality produces on T.V,social media platforms and magazines they are getting most of
the customers from online and offline marketing. In the result they become famous in all over the
Australia and most of the Australian buy product from The Iconic.
Evaluating customer needs to create value for customers
Customer value strategies are those strategies which present the company product and
services in the way that customers feel or realize they are saving their money Febrian & et.al.,
(2017). The Iconic should apply this strategies so they can create value for customers.
Sustainable Differentiation's to competitor
The Iconic have lots of competitor in the market so they need to make new strategies for
them. A strategies which can show their customers that how they are different from the others.
Company can increase the number of customers retrospectives to to reduce the wait time of the
customer. They can offer more products then the other competitors and also create the
partnership with them to create value Rapley (2017).They should give them customers services
like replacement of the product and it is also important for them to solve their quires. Good
services can make better image in the customers minds and they will add more customers for the
'The Iconic'. It is important for them to give quality services to the customer to create value .
Product value
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There are many customers who compare product with other company products Jin &
Cedrola ., (2019). For those customers it is important for The iconic to show their product
specification and difference between their products and other brand products. They should use
timeless strategy of offering the same product and service for less gives consumers the product
they want and give them a reason for they get that product from them but they should make sure
before using this strategy, its important for them to look at the overall revenue and make sure
that they are not cutting profit margin excessively. This is best way to create customer value
Unexpected Services
weather they are offering product or services, excellent customer services in every stage
of the sales process not only to retain customers but it is also important to give customer a reason
they can invite others Febrian, A. F. & et.al., (2017). Costumer is an first priority the company
should care about their customer and give them proper services which can satisfy customers. If
new customers get unexpected services then they will defiantly come again and they will invite
their friends to come and buy product from The Iconic online stores.
Loyal with customers
Its important for The Iconic to be loyal with their customers. If they will not loyal with
them if they will loyal with them then customers will come again to buy product Terho, & et.al.,
(2015). If they are giving any product in high cost and the same product any other company is
giving then it will be unfair for them who are regular customers of the Iconic company.
CONCLUSION
On the basis of the above report it has been analyzed the marketing theories of The Iconic
company and discuses about the pestle analysis analyses , swot analysis and ansoff matrix of the
company. Factors affecting on the company and their strength , weakness and opportunities has
been analyzed in the first question then In the other half report has been analyzed about the
Evaluated the customer needs to create customer value and it conclude sustainable differentiation
of the competitor, product value , unexpected services and loyalty with the customers
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APPENDIX
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REFERACESS
PANDEY, B.C., (2017). Nike Inc-Complete Analysis: SWOT, PESTLE and Marketing strategy.
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consumers’ purchase intention: the mediating effect of attitude towards brand and brand
credibility. Journal of Marketing Communications, pp.1-17.
Sikora, E.D., (2018). Analysis and evaluation of fashion luxury brands’ image based on Channel
and Kenzo examples (Doctoral dissertation, Katedra Procesów Zarządzania).
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Febrian, A. F. & et.al., (2017). A SWOT Analysis for Business Strategy: A Case of Rock
Dynamic and Joe Adventure the Outdoor Wear Brand Industries in Bandung.ISCLO 2017,
p.216.
Jin, B.E. & Cedrola, E. eds., (2019).Process Innovation in the Global Fashion Industry. Palgrave
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