Introduction to Business: LSST SWOT, New Product, Marketing

This report provides a comprehensive analysis of the London School of Science & Technology (LSST). It begins with a SWOT analysis, examining the university's strengths, weaknesses, opportunities, and threats. The report then focuses on a new product: a Bachelor of Arts (BA) in Music, identifying the target audience as students interested in music careers. Finally, it develops a marketing communication plan for the new program, including situation analysis, objectives, budgeting, and implementation strategies. The report concludes that conducting SWOT analysis is crucial for businesses to identify opportunities and introduce new programs for their target audience. The references section lists the sources used in the report.

Introduction to business

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1) SWOT analysis of LSST....................................................................................................3
2) New Product and identifying target audience along with growth opportunities................3
3) Develop marketing communication plan...........................................................................4
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
It is very important to analyse strengths, weaknesses, opportunities and threats of
business (Doh, McGuire and Ozaki, 2015). The given assignment is based on London School of
Science & Technology (LSST) which offers various types of courses to students. This report
highlights SWOT analysis of LSST and their new product to their target audience along with
marketing communication plan for it.
MAIN BODY
1) SWOT analysis of LSST
The SWOT analysis of LSST University are as follows:
Strengths Weaknesses
 Bachelor degree courses offered by
respective university is high ranking in
abstract part (Fry, 2019).
 It has highly educated faculties for
different courses.
 It is taking less initiative for adapting
changes taken place at market.
 It follow less diversified culture for
their university.
Opportunities Threats
 It has opportunities to bring various
courses for their students from all types
of fields.
 It is offering digital film making
courses to interested students.
 There are other universities at London
that offers large number of courses than
LSST (Galí, 2015).
 It adopt less changes as compared to
other universities.
2) New Product and identifying target audience along with growth opportunities
The new product which will be taken into consideration by LSST is Bachelors of Arts
(BA) in music. In current scenario, there are large number of people who are interested in doing
music courses from outside (Hall and et. al., 2016). This is regarded as specified subject that is
looked by youngsters in order to grab knowledge for it. In this context, Research and
Development department of LSST has introduced new course as study materials such as

Bachelor of Arts (BA) in music. The target audience for respective course will be interested
students who want to build their career in music field.
3) Develop marketing communication plan
The marketing communication plan is as follows:
Situation Analysis- In current scenario, more youngsters are interested towards music
sector which leads them to pursue different courses from regular one (Rutland, 2018). This
creates opportunity for respective university to introduce such courses and fulfils people need
and demand.
Marketing Communications Objective and strategy- The main objectives is to get
attention of more than 1000 students across world in terms of music sector in best possible
manner.
Budgeting- The budgeting plan for communication made by LSST university is approx
£75,000.
Implementation, Monitoring and control- It is considered as last stage which indicate
overall plan that will be analysed in proper manner by LSST university. This indicate that new
course of Bachelors of Art (BA) in music will be grabbed by university or not. In case, if it is not
then suitable actions will be taken by university so that positive outcomes are achieved.
CONCLUSION
From the above analysis, it has concluded that it is very important to conduct SWOT
analysis by business in order to grab new opportunities. This has helped business in terms of
introducing new programs for their target audience.

REFERENCES
Books and Journals
Doh, J., McGuire, S. and Ozaki, T., 2015. The Journal of World Business Special Issue: Global
governance and international nonmarket strategies: Introduction to the special issue.
Journal of World Business. 50(2). pp.256-261.
Fry, G. S., 2019. Business statistics a decision-making approach. Pearson Education Limited.
Galí, J., 2015. Monetary policy, inflation, and the business cycle: an introduction to the new
Keynesian framework and its applications. Princeton University Press.
Hall, C. M. and et. al., 2016. Introduction: The business, organisational and destination impacts
of natural disasters–the Christchurch earthquakes 2010–2011. In Business and Post-
disaster Management (pp. 3-20). Routledge.
Rutland, P., 2018. Introduction: Business and the state in Russia. In Business and state in
contemporary Russia (pp. 1-32). Routledge.

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