SWOT Analysis for Marketing Strategy

This assignment requires students to analyze the strengths, weaknesses, opportunities, and threats (SWOT) of a market or business using ecosystem services-based SWOT analysis. The student needs to evaluate these factors to penetrate effectively towards market growth. The assignment also mentions references from books and scholars, including works on marketing strategy, social media marketing, competitive marketing, and resource-based theory.

Beyond Skin Marketing
Plan
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INTRODUCTION...........................................................................................................................3
The Marketing Environment............................................................................................................4
Positioning and Targeting................................................................................................................7
Strategies for Growth and Market Objectives.................................................................................8
Re-designing the Marketing Mix to meet your SMART objectives..............................................10
Budget, Measurement and Control................................................................................................12
CONCLUSION..............................................................................................................................14
REFRENCES.................................................................................................................................14
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INTRODUCTION
Marketing plan is a most important part of business plan and acts as a solid marketing
strategy. A formative marketing plan include overview of business marketing and its advertising
goal, overall description of current position of marketing position of business along with target
market and customer needs (Gupta, 2017). In order to create a well effective marketing plan it is
important to set metric-driven goals of marketing along with overall research of competitors. In
addition to this, in order to frame effective marketing plan of business precise key baselines and
actionable marketing strategy is mandatory to be considered. By doing this organisation can
effectively able to track more opportunities and can able tackle future issues in more
developmental ways. Thus, in order to frame effective marketing plan Beyond Skin can take
advantage of formative marketing strategies in which there is a requirement to focus on
particular channels like, online reputation management, event marketing, social media marketing
and influencer marketing. Present report has been conducted on, Beyond Skin The Luxury
Vegan Shoe Company which was established in the year 2001 by Natalie Dean. Company offer
pure vegan leather shoes in London, UK. In this report discussions has been made on, SWOT,
PEST and Porter analysis along with strategies of growth and budgetary control measurements.
Re-designing of marketing mix with SMART objectives is also covered in this report.
The Marketing Environment
STRENGTH WEAKNESSES
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 Beyond Skin communicate a great
message which is to offer vegan shoes
and aim towards using 100% recycled
items and fully sustainable material by
2025.
 Company creates a loyal consumer base
by not compromising on their products
quality.
 Beyond Skin perform their operations
in ethical manner without
compromising quality in their
production base.
 Beyond Skin faces limitations in
channels of distribution as they only
offer their products via online sales
mode.
 Company lacks in attracting large base
of customers as they limit themselves
in less advertising and media presence.
 Customer does not able to get more
options as Beyond Skin have limited
style selection which lead towards
narrow customer base.
THREAT
 As Beyond Skin is a UK based
organisation Brexit situation will
adversely impact of their production
and sales section (Scolozzi, 2014).
 There is more number of competitors
coming with the idea of vegan shoes
such as, vegan footwear by vegetarian
shoes which acts as an threat for
Beyond Skin.
 In addition to this, already established
designer houses are also adding vegan
items in their list which is a major
threat for Beyond Skin.
OPPORTUNITIES
 Beyond Skin conduct their operations
in United Kingdom Market which
comes among fastest growing market
list.
 Company is effectively concerned
towards environmental and ecological
awareness as they are already offering
vegan shoes and plan towards using
100% recycled items by the end of
2025.
 Company is more tend towards
ecological and environmental balance
which helps them to gain more media
and social media support.
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PEST Factor Analysis:
Political Economic
 Political factors include new taxes rates
along with tariffs in import will
increase after UK leaves European
Union this will impact on budget
management of Beyond Skin.
 There is different type of regulation
framed by government of UK such as,
regulation related to leather production
which is required for Beyond Skin to
abide in order to conduct smooth
operations (Sammut‐Bonnici and
Galea, 2015).
 Situation of Brexit and reptile skin
import quality will also affect
functioning of Beyond Skin.
 Beyond Skin can effectively able to
take economic advantages by
increasing their indulgence in
advertising and media presence. This
will help them to increase their brand
recognition.
 Company is having less style selection
which narrowed their consumer base
along with this brexit will impact on
their functioning. For this Beyond Skin
is require to expand their channel of
distributing.
Technological Social
 By taking advantage of biodegradable
fashion technology Beyond Skin can
effectively able to attract attention of
large consumer base.
 As Beyond Skin is already planned to
offer 100% recycled materials by the
end of 2025. It will help to increase
their effectiveness towards environment
which ensures their long term
sustainability. Along with this it is also
important for Beyond Skin to take care
of their carbon footprint estimation as
 In order to sustain for long run it is
important for Beyond Skin to consider
environment impact form their
production and works towards reducing
their carbon emission.
 In present scenario, consumers are
changing their perception and moving
away from cruelty free products, thus
Beyond Skin will effectively able to
increase their effectiveness and
profitability as they provide vegan free
products.
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to conduct smooth functioning.
Porter’s five forces: It is a powerful tool which is used to acknowledge competitiveness and
identify potential strategy’s of profitability. It is necessary for Beyond Skin to analyse these
forces as they lays strong impact on performance. They can take advantage of their strengths and
make their weaknesses a strong point by avoiding taking wrong steps. Porter’s five forces are
shown below:
Industry rivalry: High
This specifies strength and number of competitors Beyond Skin have. It also signifies
quality of products which is being offered by their competitors and how they are threat to
Beyond Skin footwear. At present scenario, current level of rivalry is intense as there are not
many organisations which deal in vegan and high quality of shoes. These organisations compete
with each other by elastic prices and new styles which completely depend on preferences of their
customers (E. Dobbs, 2014).
Threats of new entry: Medium
The Beyond Skin vegan shoe market is fragmented with wide range of smaller
organisations. Due to high social expectations related with sustainable production, large number
of organisations is entering into this segment. Organisation like Stella McCartney has expanded
them in this sector.
Threats of substitutes: Low
In this sector there are very less number of substitutes, it can be considered as there is
negligible substitutes. As the level of quality which is set by Beyond Skin is very high and to
meet that level, its very difficult for substitutes.
Bargaining power of customers: Medium
Customers are more concerned with material which is being used for production. If they
will get better options then they can switch with fast growing competition within market. This
provides customers with wide range of options for purchasing products. With respect to, Beyond
Shoe bargaining power is medium.
Bargaining power of suppliers: High
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Recyclable textile and vegan suppliers are very less. By this they (suppliers) are able to
utter entire process to buyers. This is reason that suppliers dictate their terms and conditions with
respect to sales.
Positioning and Targeting
In order to evaluate effectiveness of organisation position and access target audience beyond
skin is taking advantage of 4Cs model. This mode will help them to measure their effectiveness
in best possible manner which is described below:
Consumer:
Beyond Skin effectively analyse actual demand and preferences of customers within UK
and current market trend. For this they have conducted a detailed analysis which will further
benefit them to sell their product with accuracy as per the demand of consumer (E. Dobbs,
2014). Company is planning to use 100% recycled products by the end of 2025 which is
something desirable by customers.
Cost:
As company have set their budget by measuring that in best effective way Beyond Skin
believes that cost variable will benefit them to take more information about customers rather than
variable factor. Thus, they have allocated sufficient amount of fund in their production and
labour sector.
Communication:
This element considers promotion and formative communication measures in them. In
this regard Beyond Skin is required to take initiative in more cooperative activities and
utilization of different form of marketing mix tool. For this, company allocated a handsome
budget in advertising and creation of new e-commerce websites for promoting their products.
Beyond Skin is also maintaining smooth relationship with their customers as this will benefit
them towards meaningful success and effective customer loyalty.
Convenience:
This factor considered towards place factor. In this regard Beyond Skin is taking
advantage of online mode. As cell phones, credit cards and catalogues make people to sit at their
places and get what they want despite of going out to physical location. For this company is
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taking advantage of easy-to-navigate websites and makes their website optimised for mobile use
in order to increase their profitability (Lee and Kotler, 2015). Along with this, Beyond Skin
makes sure that their products are available at multiple channels and payment gateway adopted
by company is secure as to attract customers.
Strategies for Growth and Market Objectives
SMART GOALS/OBJECTIVES
The marketing manager of Beyond Skin has stipulated 2 SMART objectives for the
enterprise in relation to its short term and long term planning for facilitating the expansion of its
operations.
Short Term (1-12 months)
“To enhance the share in market by 10% by the end of next one year by making use of
extensive marketing strategies”
Long Term (1-3 years)
“To increase the profits of organisation by 30% by the next 3 years by implementing
any business growth strategy”
ANSOFF MATRIX
This is referred to as the strategical tool that assists the management of an organisation
to adopt the most feasible strategy for the purpose of facilitating business growth. With reference
to Young Skin, it has been identified that it is the market leader of luxury vegan footwear market
within United Kingdom. Continuing upon expanding the operations of business, the manager of
this organisation has considered using this matrix in order to identify a strategy that will provide
assistance to the enterprise in significantly expanding its operations and market share. In this
regard, all the four strategies which come under this matrix are briefly explained below:-
Market Penetration: This business growth strategy is keen upon provision of existing
products within current markets of the company. In relation to Beyond Skin, it can be said that
the manager of this enterprise can make use of this strategy by emphasizing the attention of
business upon the untouched and unexplored customers belonging to the population of United
Kingdom. This would provide assistance to the organisation in enhancing the current level of
sales and profits within the domestic county with a view to increase the loyal customer base.
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Market expansion: Also commonly regarded as market development strategy, this
mainly stresses upon provision of existing products and services within new geographical
locations (Baker, 2016). This provide assistance to the company in reaching to new and fresh
base of customers so as to increase the share in market place as well as enhance the existing level
of sales and profitability. In relation to Beyond Skin, it can be said that the organisation can tap
the advantage of approaching new base of people to significantly raise the quantum of people in
its loyal base of customers and consequently be able to increase the sales.
Product expansion: This a business growth strategy which focuses on provision of new
products and services within the existing markets of company. In relation to Beyond Skin, it can
be seen that this organisation is dealing in vegan luxury footwear market which is a unique
concept not well-renowned used by any other footwear brand. Thus, this organisation can tap the
advantage of offering new and unique products within domestic market so as to influence the
purchase behaviour of loyal base of customers and make them buy the new offerings of
company. Through this, Beyond Skin will be able to gain the attention of new set of customers as
well as retain the old ones by bringing uniqueness in their existing product segment and
significantly enhance the sales within UK.
Diversification: This strategy of business growth is keen upon provision of new products
in new and untapped geographical locations. This is ascertained to be a risky business strategy as
the chances of success and failure associated with it are almost equal. If Beyond Skin adopts this
strategy, this will serve as an expensive strategy for the organisation as the new market does not
have information or awareness about the organisation or its offering, so the company will have to
make a huge investment within marketing and promotion department. This will assist the entity
to communicate the mission, vision and objectives of enterprise to the audience of new country
so as to gain their attention towards the offerings of company. In case, the promotion and
marketing initiatives are able to yield desired results, organisation will be feasibly able to expand
its share within global market and thereby enhance its revenues as well as profits.
From the analysis and evaluation of above mentioned strategies that come under Ansoff
matrix, it can be said that Beyond Skin should adopt market penetration strategy for facilitating
business growth. This has been selected owing to the rationale that this organisation is already
well renowned within United Kingdom for its unique products that take into consideration the
ethical and environmental concerns. Thus, it will be easier as well as feasible for the company to
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give due consideration to its existing offerings within its domestic market, UK so as to gain the
attention of untouched customers within the population and significantly enhance the sales and
profits (Eagle and Lloyd, 2014). Along with this, entity will be easily able to expand its share in
UK marketplace and retain its market leadership as it already has knowledge of the market
conditions and buying behaviour of customers of UK.
Re-designing the Marketing Mix to meet your SMART objectives
Lauterborn’sapproach
In 1990, Lauterborn suggested in an article that instead of 4P’s, 4C’s model can be ued as it
provides more customers centric approach. As Beyond Skin provides vegan shoe and there
are hardly any organisations which render these kind of shoes. So it is essential for them to
take into consideration taste and demands of customer as they might switch to someone else
for other products if they are not satisfied. 4C model with respect to 4P’s is illustrated
below:
Figure 1: 4 C's
(Source: Digital Marketing model: Lauterborn’s 4 Cs, 2019)
Consumer wants and needs: (Corresponds to product in market mix)
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In this focus is shifted from product to being product led, in this organisations make
products which are not required by customers. Example Nokia makes products which fails
to meet needs to customers. Similarly Beyond Skin can make shoes as per designers.
Cost to satisfy: (Corresponds to price)
As per Lauterborn, it is irrelevant as many other factors are also involved. Consider
commodity products which are not furnished by brands, within supermarket buyers force their
suppliers to cut down their cost (Dib, 2018 ). Cost to satisfy sounds just like reducing prices of
products, but brands like Apple have premium priced strategy, as they have to contribute to
brand’s DNA as premium brand which ensures that bargaining do not occurs. In terms of,
Beyond Skin it indicates total cost of ownership whereas price only signified cost of product.In
this aspect cost comprises of monetary as well as non-monetary cost. It includes opportunity
cost, time required for or cost needed for meeting strengths and drawbacks of products.
Convenience to buy: (Corresponds to place)
It is crucial for customers in a 24 hour economy. By introduction of online shopping carts
customers can opt for shopping at any time of day. Example can be taken to understand this,
customers can make comparison in prices, like in tickets of airline, branded products or
services or electronic products. This website offers customers with various products offered
by different suppliers and they can make comparison in terms of features as well as prices
offered by them. Beyond Skin can make their online presence by offering products online,
this will create significant impact on productivity and profitability of organisation.
Communication: (Corresponds to promotion)
Promotion is one way system for carrying out communications which was pushed by
organisation towards customers via medium of advertisements in social media, newspapers,
magazines or television (Constantinides, 2014). As per Lauterborn there must be two way
communications between customer and company. For this organisation like Beyond Skin
can make use of digital marketing. By this customers can use generated content for carrying
out interaction with organisation. By enhancement in social media, it provides great channel
for communication. It will act as guidebook where customers can identify what will satisfy
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them and what will not. Furthermore, organisations can keep track of likes, dislikes and
comments on them by which they can analyse customer’s preferences.
Budget, Measurement and Control
Beyond Skin effectively measured their marketing budget in which they are investing
maximum amount of 25K pound. For this they take effective measure to increase their revenue in
order to insure that they are utilizing their funds in better way. There are some methods which
have been chosen by Beyond Skin to measure success of organisational objectives. Some of
them are described below:
Revenue increases: In order to increase revenue Beyond Skin is taking advantage of this method
to increase its customer base for which they are increasing their average transaction size and
frequency of transactions per customers. In addition to this, company in order to raise their
estimated amount of revenue is effectively designing their marketing goal in which they consider
various factors including, the metrics for increasing their sales and marketing and new method of
product launching in the market (Johansson and Siverbo, 2014).
Web Traffic: In recent days, this method proves out to be very effective to attract customer. As
Beyond Skin performs their business via online mode thus they have invested a stipulated
amount in which they have adopted certain measures which helps them to increase traffic in their
web sites as to grow their online audience. Therefore, in order to increase web Traffic Company
posted an evergreen content for example, 100% recycled PU vegan leather products which helps
in attracting lots of consumer base. Along with this Beyond Skin is also planned to take help of
paid aids and press releases as to increase traffic on their website.
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Social Media Management/ Campaigns: This method turns out to be most effective as social
media sites will help Beyond Skin to grab attention of customers form different geographical
locations without considering any boundaries. In order to conduct this activity, company have
set total amount in their budget of around 500 pound – 2K pound on monthly basis.
E-commerce web sites build/ re-design:
As company is lacking in advertising and media indulgence in budget amount of 10k
Pound to – 100K pound has been set so that Beyond Skin can grab attention of more consumer
base by creating new e-commerce web sites. Along with this within this allocated amount
company is planning to re-design their former websites. By doing this they can serve their
customers in more effective way which will further help them to increase their overall revenue.
Magazine full page ads: Beyond Skin in order to grab attention of large base of customer is
publishing their company ads in renowned magazine such as vogue. In this they are measures
total amount of 11K pound for niche publications.
Direct Marketing costs: As company is lacking in channel of distribution as they deal via
online this they have measured 1000 pound in order to conduct their production, print and
distribution of total number of 100,000 leaflets or flyers. This will help them to attract attention
of customer towards them in effective way (Kozlenkova and Palmatier, 2014).
CONCLUSION
As per the above mentioned report, it has been concluded that, strong marketing plan
effectively benefits an organisation to grab more developmental opportunities. In this report
Beyond Skin marketing plan is effectively considered. In order to perform operations as per
according to marketing plan proper allocation, measurement and control of budget is required to
be analysed. Along with this, different ways to product promotion via online mode and certain
methods are covered in this report which will help present company to conduct their functions.
Along with this report covers SWOT, PEST and Porter analyses which will further benefit
company to evaluate their strength, weakness and opportunities and penetrate effectively towards
market growth.
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REFRENCES
Books and Scholar
Scolozzi and et.al., 2014. Ecosystem services-based SWOT analysis of protected areas for
conservation strategies. Journal of environmental management. 146, pp.543-551.
Sammut‐Bonnici, T. and Galea, D., 2015. PEST analysis. Wiley Encyclopedia of management,
pp.1-1.
E. Dobbs, M., 2014. Guidelines for applying Porter's five forces framework: a set of industry
analysis templates. Competitiveness Review. 24(1), pp.32-45.
Johansson, T. and Siverbo, S., 2014. The appropriateness of tight budget control in public sector
organizations facing budget turbulence. Management Accounting Research. 25(4), pp.271-283.
Shaw, S., 2016. Airline marketing and management. Routledge.
O'shaughnessy, J., 2014. Competitive marketing (RLE marketing): A strategic approach.
Routledge.
Lee, N. R. and Kotler, P., 2015. Social marketing: Changing behaviors for good. Sage
Publications.
Lamb, C.W. and Crompton, J.L., 2017. Analyzing marketing performance. In Marketing the
Public Sector (pp. 173-184). Routledge.
McDONALD, M.A.L.C.O.L.M., 2016. Strategic marketing planning: theory and practice. In The
marketing book (pp. 108-142). Routledge.
Baker, M.J., 2016. What is marketing?. In The Marketing Book(pp. 25-42). Routledge.
Eagle, L., Dahl, S., Czarnecka, B. and Lloyd, J., 2014. Marketing communications. Routledge.
Constantinides, E., 2014. Foundations of social media marketing. Procedia-Social and
behavioral sciences. 148, pp.40-57.
Kozlenkova, I.V., Samaha, S. A. and Palmatier, R. W., 2014. Resource-based theory in
marketing. Journal of the Academy of Marketing Science. 42(1), pp.1-21.
Gupta, V.K., 2017. Marketing Strategy: A War to Win. Journal of Management Science,
Operations & Strategies (e ISSN 2456-9305), 1(1), pp.21-24.
Gupta, V.K., 2017. Marketing Strategy: A War to Win. Journal of Management Science,
Operations & Strategies (e ISSN 2456-9305), 1(1), pp.21-24.
Fernandez-Cavia, J., Marchiori, E., Haven-Tang, C. and Cantoni, L., 2017. Online
communication in Spanish destination marketing organizations: The view of
practitioners. Journal of Vacation Marketing, 23(3), pp.264-273.
Dib, A., 2018. The 1-page marketing plan. Page Two Books.
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