SWOT and PESTLE Analysis Of Business Environment
Added on 2021-02-20
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ASSESSMENT1
ContentsINTRODUCTION...........................................................................................................................1EVALUATION AND CRITICAL ANALYSIS..............................................................................1Audit business environment by using BCG, SWOT and PESTLE analysis..........................1What are the business’ target market......................................................................................4What segment(s) of the market it serve?................................................................................5What marketing communications’ mix are most suitable to reach out to the target marketsegment?.................................................................................................................................6How does the business intend to execute the marketing communication mix?.....................7Does the business has enough budget to do it?......................................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................92
INTRODUCTIONMarketing audit refers to systematic, evaluation, comprehensive and interpretation of businessmarketing environment. It plays a necessary role in designing market plan for marketing inspecific market that aids in developing market plan. Generally, marketing audit is conductedthrough third person not any member of firm. Under this, Getabed is start up business and thatdeals in hospitality sector (Schaltegger, Burritt and Petersen, 2017). It provides the betteraccommodation services to travellers in limited budget. Internal and external both environmentare necessary for business. Internal environment includes employees, technologies etc. whichhelps in conducting the business activities in significant manner. On the other hand, externalenvironment develop negative impact on business and it consists political, technological, social,environmental etc. It is complex for company to control these factors. In given report will bediscuss about audit of business environment through using PESTLE and SWOT analysis. Therewill be discussion regarding marketing communication mix, which helps in reach put targetmarket segment.EVALUATION AND CRITICAL ANALYSISAudit business environment by using BCG, SWOT and PESTLE analysisBusiness environment is sum total of the internal and external factors which influence business.It includes factors, which affect ability of company to develop as well as maintain the successfulcustomer relationship. An environmental audit is review of processes and operations to identifycompliance with the environmental regulations. A necessary environmental management toolaffect certain activities on environment against set standards. It can be costly but failure to carryout these kinds of audit, which have expensive. Environmental auditing is helpful in minimizingadverse effect of activities on business environment (Camilleri, 2018). Getabed is a start- uphotel and it is able to provide better services to people in United Kingdom. As it conduct anenvironmental audit in order to know about the effectiveness of business. For audit the businessenvironment, Getabed uses the different methods such as BCG, PESTLE and SWOT which aregiven below:BCG MatrixIt is a kind of framework that developed through Boston Consulting Group for examinestrategic business position of business brand portfolio and also its potential. It is mainly designed3
to help with the long term strategic planning that aids Getabed to include growth opportunitiesthrough reviewing portfolio of services. This matrix has four categories which are given below:Stars- It states that start products are the market leaders which generate more ROI ascomparison to other goods. In this, market share and market growth both are high. For the longterm success, there is a need to Getabed to investing continuously on its its products and servicesfor gaining long term advantages. If the starts maintain their market share over long period oftime then they will become cash cow.Cash cows- In this, market share is high but market is developing slowly. The cash cowproducts do not need more investment in order to maintain high market share. It is necessary forGetabed to develop cash cow for produce reliable income source (Charter, 2017). Question mark- In this, growth rate is high but he market share is low. As Getabed isnew start up business and it introduced the new services and products that have small marketshare as comparison to competitors but in quick developing market. It is complex for hotel toestimate any kind of future development.Dogs- Under this, business units in slow- development with small relative markets shareare gardened as dogs. In this brand have the low market share and low growth rate. It states thatthe sales is low and there is a reduction in profitability of business. In this case, there is a need tocompany to adopt divestment strategy when goods can be retain itself for no longer. SWOT ANALYSIS It refers to strategic planning technique that is mainly used to assess an individual orcompany to determine strengths, weaknesses, opportunities and threats which are concerned withproject planning and business competition. It will help Getabed hotel in internal environment alaudit. It can support the better strategic planning based on examination of capabilities ofcompany and external environment. With the help of this, management can know that business isperforming up to the expectations or not. SWOT Analysis of Getabed mention below:Strengths Gatebed hotel provides the safe Abode awayfrom home. It provides the clean, safe anddecent rooms to guests (Carins, Rundle-Thiele,and Fidock, 2016).The staff of this hotel is wellWeaknessesThe main weakness of this hotel is thatit has lack of the social media access. Itdoes not use social media to connectwith the people. It does not adopt the advanced4
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