7-Eleven Business Strategies Analysis
Added on 2020-05-16
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Running head: INTRODUCTION TO MARKETINGIntroduction to MarketingName of StudentName of UniversityAuthor Note
1INTRODUCTION TO MARKETINGExecutive SummaryThe report focuses on the prospects that exist with proper marketing technique. Theeffectiveness of analysing the internal and external business environment is provided to getan idea about the strategies that need to be followed. The report conducts an analysis of 7-Eleven, an American-Japanese convenience store. The external environment analyses usingPESTEL analysis shows that the biggest threats faced by the company are from the economicand legal factors. SWOT analysis is conducted to analyse the internal potential of thecompany. The report identifies the target market for the company and provides an idea ofsetting up a store in the residential areas in the United States. The development of onlineshopping facility for the company is recommended in the report.
2INTRODUCTION TO MARKETINGTable of ContentsSection 1: Introduction and background of the company..........................................................3Section 2: Analysis of the external and internal environment...................................................3Section 3: Recommendation......................................................................................................7a. Target market:.....................................................................................................................7b. New product/service description:.......................................................................................8c. Relevant marketing mix:.....................................................................................................8Section 4: Conclusion and recommendation..............................................................................9Reference..................................................................................................................................10
3INTRODUCTION TO MARKETINGSection 1: Introduction and background of the companyThe report covers the prospects of marketing and the ways by which the marketingelements can be used to gain success in the competing business market. The report analysesthe internal as well as the external environment that affects the growth of an organisation.The purpose of the report is to analyse the factors that affect a business organisation and thepossible responses that can help it to remain competitive. A SWOT analysis is conducted foranalysing the internal factors that affect an organisation. The purpose of the SWOT analysisis to identify the strengths and opportunities that an organisation possesses. Apart from this, italso helps in identifying the threats and weaknesses (Bull et al., 2016). The value of SWOTanalysis is that based on it, organisations can make rectifications in their work structure. Forthe purpose of the essay, 7-Eleven has been considered.7-Eleven is a convenience store headquartered in Texas. The parent company,however, is located in Chiyoda, Tokyo. This company is a collaboration between theAmericans and the Japanese for improving their line of business. The company was set up in1927 and currently have over 56,000 stores in 18 countries. The company started by sellingeggs, milk and bread form a house located in Dallas. Despite the fact that grocery stores wereavailable, the selling of bread and milk in convenience stores can help customers avoid longdistance travels. The concept became popular and currently, the company is one of the largestconvenience stores in the world providing work to over 45,000 employees. The product lineof the company includes beverages, prepared foods, gasoline and souvenirs. These daily useitems provide the company with an advantage to attract the customers (7-eleven.com, 2018).Section 2: Analysis of the external and internal environmentIn order to gain a competitive advantage, it is important that companies conduct athorough analysis of the external as well as the internal business environment. This helps thecompanies to understand the competitors and the possible threats that may receive whileconducting a business. Based on the analysis strategies can be formed that can help anorganisation to excel (Babin and Zikmund, 2015). In the case of 7-Eleven, the company needto conduct a similar analysis that can help the company to strive for more success in thebusiness market. Hence, to conduct a proper analysis of the external factors it is importantthat the managers of 7-Eleven conduct a PESTEL analysis.
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