Marketing tools Essay Example | Topics and Well Written Essays - 2500 words

Marketing tools - Essay ExampleIn this regard, the analysis focuses on a piano tuner mini hairs-breadth dryer market, competitive environment and the costs involved. This can only be achieved by continuous surveys of the product competitors actions in this market. Under an finders strategic marketing plan/approach, it willing continuously monitor potential benefits/opportunities offered by the mod line of products/a wireless mini Hair dryer to ascertain its financial viability ((Errigo & Zempol 2011, p. 64). Ansoffs Model In order to meet the above objectives, Knowledge Store can use the Ansoffs hyaloplasm / model to make decisions regarding a wireless mini hair dryer marketing growth strategy. It will used to ascertain strategic priorities regarding the launch of this new product line to attract more customers, expand the existing market share and to increase sales revenue earnings (Errigo & Zempol 2011, p. 72). It helps in creating a pellucid platform on which the above obje ctives are developed, following different mix categories shown in the diagram below. Fig. 1.0 Ansoffs Model Moreover, Ansoffs matrix is employed to feel a wireless mini hair dryer marketing strategies that will help in meeting the objectives of increasing the customer base and market share. This will be facilitated by the use of internet services, which reach more customers segments in different geographic markets across the globe. SWOT Analysis of an armorers gild An inventor SWOT can be god in terms of strengths, weaknesses, opportunities, and threats, as outlined in the following table. STRENGTHS 1. A company operates many stores across the globe, thus present in the global market. 2. Strong control over its distribution channels. 3. An inventors product has a strong brand identity operator/name. 4. Its diversification strategy has larger brands portfolio. 5. Expansive market product line. WEAKNESSES 1. Weak financial health caused by higher(prenominal) debts and decline in profitability margin. 2. uncertain management caused by family conflicts of interest. 3. Weaker brands portfolio from some items sold by an inventor. 4. Limited target customers, especially the professionals. 5. The prices of an inventor product are relatively higher. OPPORTUNITIES 1. An inventor has a higher market growth potential in former(a) areas, especially in the UK and USA. 2. A company is capable of consolidating other brands for the establishment of a stronger competitive receipts in various segments. 3. Presence of e-marketing/e-commerce makes it possible for an inventor to carry out online transactions. 4. Presence of multi-media technology developments for marketing/advertising. THREATS 1. A company currently faces stiffer competition from other market players in a company, which are companies that offer medium brands that are capable of advancing towards the premium brands such. 2. An inventor is facing the threat of takeover that is in all likelihood to affect its capital ownership in a company. 3. Presence of both local political shakeups and economic slowdown. 4. Fake companys products. PESTEL Analysis of an inventors company/business There are various factors that would affect the decision making processes. The PESTEL analysis technique has been used in an effort to analyze some of these factors. The PESTEL model usually covers the political, economic, social, technological, legal and environmental factors that are likely to influence the decision maki