Marketing Environment Analysis: Practice researching external and internal marketing environment iss

TASK: Marketing Environment Analysis

You have spent the last few weeks discussing marketing environment. In this first formative assessment, we will be giving you the opportunity to practice researching external and internal marketing environment issues and examine the impact of opportunities and threats brought into each organisation. This will also help you identify the strengths and weakness to an organisation on the marketing of a product or service. This will inform the summative assessment and provide opportunity for feedback.

TASK: Marketing Environment Analysis

At the start of this module learning, each student is required to choose an organisation that you are familiar with for this module�s formative and summative assessment.

Based on the company chosen and knowledge learning in class, you will carry out a PESTEL and SWOT analysis individually (using the PESTEL & SWOT Tables provided) which should be completed before Week 5. During the Week 5 seminar sessions (w/b 12^th�July 2021), you will do group peer review to gain feedback on your formative assessment.

How to do the Peer Review?

Peer review is a practice that enables students to have meaningful conversations with their peers about student work. It is also an effective approach to strengthen the learning of every student.

Therefore, each student is required to review work with your peers firstly and then you provide your feedback and give ideas to your peer by completing related peer form which will be handed out to students at the start of the peer review session.

On completing the peer review between you and your peers, you need to report and show the completed peer forms to your tutor in class as well so further feedback can be given where necessary. The tutor�s role in this practice is to ensure students are successful in engaging with peers and providing meaningful feedback during this process.

Opportunities and threats are external factors that can significantly impact an organization's success. Understanding and effectively managing these factors is critical to an organization's ability to adapt and thrive in a dynamic business environment. Opportunities refer to external factors that an organization can capitalize on to achieve its objectives. For example, an opportunity could be the introduction of a new technology or a change in consumer preferences that could increase demand for a company's products or services. By taking advantage of these opportunities, an organization can improve its competitive position and increase its profitability.

Threats, on the other hand, refer to external factors that can negatively impact an organization's performance. Examples of threats include increased competition, changes in government regulations, economic downturns, or natural disasters. If not managed properly, these threats can undermine an organization's success and profitability. It is essential for organizations to regularly assess their external environment to identify both opportunities and threats. By doing so, they can develop strategies to take advantage of opportunities and mitigate threats. For example, an organization may identify an opportunity to expand its product line or enter a new market. To take advantage of this opportunity, the organization may need to invest in research and development, marketing, or distribution.