Marketing and strategic resource management

Marketing and strategic resource management
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Table of contents
Introduction......................................................................................................................................3
Discussion........................................................................................................................................3
1.1 Strategic management................................................................................................................3
1.1 Scope of strategic management............................................................................................3
1.1.1 Domestic business.............................................................................................................4
1.1.2 International business........................................................................................................4
1.1.3 Global Business.................................................................................................................4
1.2 Globalisation of business......................................................................................................5
1.3 Influence of international business environment..................................................................5
1.3.1 Direct influence.................................................................................................................5
1.3.2 Wider influence.................................................................................................................5
2. The technique for analysing business environment.....................................................................6
2.1 Overview of business environment...........................................................................................6
2.1.1 Internal and external environment..........................................................................................6
2.1.2 Competitive environment.......................................................................................................6
2.2 Composition of external environment.......................................................................................7
2.2.1 Economic environment...........................................................................................................7
2.2.2 Socio-cultural environment....................................................................................................7
2.2.3 Political and legal environment..............................................................................................7
2.2.4 Technical environment...........................................................................................................8
2.3 Micro and macro-environmental factors...................................................................................8
2.4 International business environment...........................................................................................8
2.5 Techniques for environmental analysis.....................................................................................8
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2.5.1 Competitors analysis...............................................................................................................9
2.5.2 Customers analysis.................................................................................................................9
2.5.3 Porter's five forces method.....................................................................................................9
2.5.4 Environmental audit................................................................................................................9
2.5.5 Porters diamond....................................................................................................................10
2.6 Business Strategies for managing the environment.................................................................10
Conclusion.....................................................................................................................................10
Reference list.................................................................................................................................11
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Introduction
The assignment focuses on buyers and consumer behaviour of Woolworth for the launch of a
new product in the market. It concentrates on the understanding of consumer choice and the
factors that are affecting it. It focuses on consumer behaviour and the decision making for
purchasing a particular product from the market. It also concentrates on the organisational
buying process for the benefit of the company. Apart from that it also helps to understand the
market research and the marketing mix that helps the organisation to obtain competitive
advantage and profit ratio. Therefore, it focuses on the market research data and consumer data
protection for understanding the impact of market research for the companies to benefit from it.
It also helps to understand the marketing mix elements that impact the buyer's behaviour and
brand loyalty that impacts consumer behaviour.
Discussion
1.1 Strategic management
Strategic management is regarded as a Process that the organisation follows for planning success
of the business. When was setting different objectives and analysing the competitive
environment it could easily manage the work in the organisation and obtain competitive
advantage from it. Moreover, strategic management involves the formulation and
implementation of different goals and initiatives taken by the organisation for its future benefit.
It is with the help of strategic management the company Woolworth would be able to plan
monitor and analyse its working in the company (Carlson 2016).
1.1 Scope of strategic management
The scope of strategic management involves
Management process
Management process is the process in which the organisation manage the work in the company
with different strategies and create a change in the company.
Management decision
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