Analysis Of External And Internal Environment Marketing Essay

Analysis Of External And Internal Environment Marketing Essay A small business is a business that is privately owned and operated, with a small number of employees and relatively low volume of sales. Small businesses are normally privately owned corporations, partnerships, or sole proprietorships. Every business which starts with the small capital, few members of staff and management, dont have much branches in other areas, town or country will be called as small businesses. Small businesses often have the vision of expansion, invest more capitalisation as well as profit maximisation. Here I am taking about Fried chicken shop which is necessary to UK people. This fried chicken shop name is western fried chicken. Executive Summary: The marketing plan of Western Fried Chicken focuses on their current positioning and the effects of repositioning themselves by launching Halal Fried Chicken. With its launch, theyd also be in the list of one of the Halal food suppliers in UK. The main idea is to offer Halal fried chicken in western style as well as with a few amendments in the recipe by making it spicy to make it appealing to its extended target audience i.e. Muslims that reside in United Kingdom. The reason being Muslims prefer a slightly more spicy food than the western food. The repositioning of the brand is targeted towards the extension of its target audience by allowing access to another target group i.e. a profitable population of Muslims from all over the world, living in UK. There is a high tendency of its success as Western Fried Chicken is already liked by its existing target audience and gets good reviews if anyone is a big fan of scrumptious chicken, chips and even juicy burgers. The consumers prefer WF C more than one of its giant competitors i.e. KFC. The Buzz marketing effect would be one of the best and cost free methods of promoting their chicken. The Challenge The food industry is a mammoth industry in UK and since there is a busy lifestyle, people prefer fast food take away rather than going for fine dining. In order to survive in the food industry where there is cut throat competition with over 1, 000 individual brands and 1,700 outlets, WFC has to offer something exceptional to its existing target audience in order to retain them and also attract new ones by enabling Muslims to be carefree regarding the Halal meat and focus on providing them something according to their preferences and taste. A little effort on consumer research should be put in, in order to know about their preferences and ultimately provide better end results to them and remove chances of consumer disgust. Vision: à ¢Ã¢â€š ¬Ã‚ ¢ To establish a world class brand. à ¢Ã¢â€š ¬Ã‚ ¢ To be the leading and fastest growing fast food chain in UK. à ¢Ã¢â€š ¬Ã‚ ¢ To be synonymous with quality and profitability. à ¢Ã¢â€š ¬Ã‚ ¢ To bring innovative products and business models to customers. Mission: Providing a hot juice burger, hot testy fried wings and chips. Providing a customer nice environment and nice service. Analysis of external and internal environment of the company: EXTERNAL environment: EXTERNAL ENVIRONMENT is factors (conditions, trends, and forces) essentially outside the control of organizational members. External environmental scans are conducted to identify important factors in the external environment. This analysis is often a critical aspect in all business or strategic plans. Also known as the operating environment, this refers to market conditions, economic and political issues on the local and national levels, demographic factors, and other forces outside of a business that affect the overall success of that business. The external environment creates both risks and opportunities for a company. Companys external environment has two factors such as Micro and Macro. To study micro factors, we need to focuses on Porters five generic forces model and to study macro factors, we need to focuses on PEST analysis of the company. Organization Macro factor: Macro environment factors are external forces or components that may affect the running of a business or organization. Despite being largely beyond the control of a business, macro environment factors often require changes and shifts in operating, management, production, and marketing. There are many different types of macro environment factors, including political, economic, social, and technological concerns also known as PEST factors. Macro-environmental factor normally using by the management and professionals to scan the external environment of the business to study strategic business management. There are many factors in the Western Fried chickens macro-environment that would affect the decisions of its management. Economical Political PEST Technological Social Political: Political factors can have a profound effect on how a business is operated and managed. Tax policy, government-issued safety regulations, the availability of government contracts, and even shifts in the controlling political party may all change the macro environment for an organization. International laws, such as trade agreements and tariffs, may affect the supply and demand chains and available markets for many different businesses as well. Political factors like changes in the Tax changes, new laws, trade barriers, demographic changes and government policy changes can affect WFC. WFC has an advantage being a food outlet as there wont be any such limitations in running their business. Despite the political distress it wouldnt affect the business of food chains at all as people wont stop eating food. Therefore, in political terms it has a positive edge. Economic Environment: A market boom, recession, or growing inflation problem can all change the way a business plans for the future and operates in the present. Economic macro environment factors are often difficult to assess, since economic forecasts and analyses vary widely between experts. Unemployment levels, comparative foreign exchange rates, and the state of the global economy can all help or hurt a business ability to get components it needs and maintain stable profit levels. Envisioning the economic environment of UK where inflation is as high as 3.3424%, the business might get affected thereby, decreasing the customer footfall, but at the same time, welcoming another target market will subsidize this outcome. Social and Cultural Environment: With respect to social and cultural environment, WFC is in an excellent situation. The reason being they are providing food which is one of the basic necessities of survival of human life. Secondly when talking about culture, just as the name suggests Western Fried Chicken, their offering fits the culture of UK the best and now they are even planning to launch Halal meat which would include the understanding of western consumer groups as well as other consumer groups i.e. Muslims for whom Halal meat is sacred This would help create positive associations to their brand. Technological: Technological macro environment factors can influence how a company does business. A new type of machinery, advanced computer chip, or product created through research and development can help a company stay modernized and ahead of the market curve. Keeping up with technological advances can be something of a marathon and a gamble; smart business owners must be able to accurately identify which new developments will be truly useful, and which are merely shiny objects with no real ability to improve business. Being a food outlet, Western Fried Chicken can adapt to a few more advanced technological cooking equipment such as electrical ovens and deep fryers etc. that would be hassle free and heat the oil at a flawless level in order to provide well cooked and crispy chicken than ever before. Organization Micro Factor: Companys micro environmental factors can be explained by using Michael Porters generic five forces model. This model mainly explains the relationship between company and their potential competitors, buyers and suppliers. These five forces also affect WFC. With this analysis one can find out the best option suitable for WFC to overcome the problems in the market due to those five forces. Bargaining power of CustomerMichael Porters five forces model: Bargaining Power of Suppliers Threat of substitute Products Competitive Rivalry within industry Threat of new Entrance Threat of new Entrance: Threat of New entrants is high as there are low barriers to entry on and there is no monopoly of any food outlets. The reason being the core product i.e. fried chicken is always a hit and there are higher chances of new entrants to survive pretty well in this industry by consuming other existing businesses market share. The bargaining power of suppliers: The bargaining power of suppliers is also low as chicken which is the raw material for WFC is not a difficult item to get due to the sufficient amount of suppliers but when it comes to Halal meat then it could be taken as bargaining power of suppliers is high as a very few suppliers provide Halal meat which is near to having monopoly. The bargaining power of buyers: The bargaining power of buyers is high when it comes to fast food items as there are many other outlets such as Chicken Cottage, KFC and Dixy Chicken etc. offering the same menu. Therefore, if the customers feel that WFC is continuously over pricing then there is a possibility of switching to other competitors. Threat of substitutes: Threat of substitutes is also high as there are over 1000 individual brands in operation in UK and if in future the consumers may think that WFC is not a healthy food, they might get inclined towards healthy food such as Chinese, Thai and Subway etc. Competitive Rivalry in the industry: Competitive Rivalry in the industry is very high because there is cut throat competition in the food industry of UK. There are over 1700 outlets providing something or the other. WFC has a lot of direct and indirect competitors. Internal analysis: To analyse any companys internal environment, it is very important to focus on what are the companys strength and weaknesses. By utilizing strength, company can use this positive factor to grow in the competitive market. It shows companys uniqueness from its competitors. Why we should choose or do not choose this company, we can get idea from its strengths or weakness. By focusing on companys weaknesses management can change or improve the weak points and they can transform weakness into their strengths. Strengths: Characteristics of the business, or project team that give it an advantage over others. Good Taste: WFC is famous for providing one of the best fried chicken and chicken burgers in town. Strong Brand Conviction: When it comes to fried chicken the customers strongly prefer and the fact that WFC is open till 4am which gives it an edge over all its competitors such as KFC etc. Customer Loyalty: If a customer has once tried WFC; hed get converted into a regular customer in no time. Customer Oriented Business: WFC is somewhat an amateur customer oriented business that plans to focus on consumer preferences and meet the expectations of the consumers better. Adaptability to change: WFC is willing to change as theyre thinking on the lines introducing Halal meat and extending their target audience. Weaknesses: Weaknesses are characteristics that place the team at a disadvantage relative to others. Narrow assortment of menu: fried chicken pieces, burgers, wings and ribs with fries and drink are just too limited offerings due to which they might lose on some of the potential customers. Lack in providing value for money to the customers: According to a few customers WFC is now charging expensive rates with respect to the value they are providing in form of food. The perceived value is less than the actual value delivered to the customers. Lacks in marketing research: A little effort put towards the marketing research of existing as well as attracting new customers might help WFC to be more profitable by providing value to its target market. Business Plan: Every small and big business starts with business plan. A business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals. Business plans may also target changes in perception and branding by the customer, client, taxpayer, or larger community. When the existing business is to assume a major change or when planning a new venture, a 3 to 5 year business plan is required, since investors will look for their annual return in that timeframe. The process of business plan passes through series of stages. Gather Information: WFC has gathered information about market trend in the UK. They found out that in UK there are lots of Muslim people. Age 14 45 years; teenagers who are students to adults, who are working there mostly, like fried chicken. Thats why there opening at let night 4 AM. Mission Goals: To provide a hot good quality and juice food to customer. Providing a good customer service. Increasing the income  £15000 to  £25000. Devise Strategies: At this stage WFC formulate their strategies to play in the market. Owner sit together and discuss about the market research and statistical data based on past survey. They develop the strategies on the basis of those data. Evaluation Plan: On the basis of the reports regarding monitored performance, Owner can evaluate the business plan again if he fined any gaps in their actual then targeted outcome. He can again start gathering information about actual market trend. Business plan is like a cycle. It doesnt stop once they achieved their target. Conclusion: Western Fried Chicken is operating really well in the food industry in UK and is really popular amongst its target audience. Catering to another untapped market of the Muslim population would make it a profitable venture by leaps and bounds as there are a really few Halal meat retail outlets in the UK. The opportunity is huge for the outlet which if grabbed properly can take the company into a new arena completely. I feel that this opportunity should be grabbed by the organization as there is a huge potential market available for it.

You Decide Paper Cultural Diversity

We don't know if their culture will assimilate with our work environment culture. Everyone tends to set a precedent before the new legible candidate is thought of either if they will be male or female or white, black, Hispanic, Asian or Middle Eastern. Employees tend to already, after so many years of working with one another, tend to formulate certain cliques based on age, race and other characteristics even on education background and experiences.For this position sales manager of F-fiber Optics, I want to make an unbiased decision on who I pick for the right ethical reasons and not based on any of those criteria but based on merit, experience, education and of course legality (citizenship). In reading about all of the candidates that eave applied for the sales manager position, I'd have to say that they all had impeccable short bios, but to me only two stuck out from the group. Would have to pick between Lynn the IT Manager and Karen the Sales Representative.They both have some kn owledge in Fiber Optics and its engineering and also experience in sales. I think although Lynn would be a great candidate for the job, she would have some trouble acculturating to the job because of her lack of speaking English well and trying to assimilate to our American culture. She would have to catch on fast in order to gain more of respective clients. Her short bio did not state if she was single or had a family, so should be possible candidate to be able to Stay late hours to work on certain projects and to gain clients.The next potential client I would lean closely toward is Karen because of her background graduating in Fiber Optic engineering. She would definitely have a lot of experience in the field and had been awarded the Sales Representative of the year award. She has valid experience in selling and captioning people to want to buy a product. I don't think she would have any issues in connecting with potential clients. The job calls for having to stay after 5 P. M.I d on't think Karen with just getting married would have that time to want to spend the extra hours at work. Lynn was a math major and minored in computer analysis and just because she wrote a paper on Fiber Optics doesn't been she is an expert on it. I would ultimately choose Karen the sales rep because she had graduated in the field and I see her possible potential to grow and learn more. She also has experience in sales. I could mold her into how want her to be and this would not only help her but would help me move up the ladder.

Using the Standard Normal Distribution Table

Normal distributions arise throughout the subject of statistics, and one way to perform calculations with this type of distribution is to use a table of values known as the standard normal distribution table. Use this table in order to quickly calculate the probability of a value occurring below the bell curve of any given data set whose z-scores fall within the range of this table. The standard normal distribution table  is a compilation of areas from the standard normal distribution, more commonly known as a bell curve, which provides the area of the region located under the bell curve and to the left of a given z-score  to represent probabilities of occurrence in a given population. Anytime that a normal distribution is being used, a table such as this one can be consulted to perform important calculations. In order to properly use this for calculations, though, one must begin with the value of your z-score rounded to the nearest hundredth. The next step is to find the appropriate entry in the table by reading down the first column for the ones and tenths places of your number and along the top row for the hundredths place. Standard Normal Distribution Table The following table gives the proportion of the standard normal distribution to the left of a  z-score. Remember that data values on the left represent the nearest tenth and those on the top represent values to the nearest hundredth. z 0.0 0.01 0.02 0.03 0.04 0.05 0.06 0.07 0.08 0.09 0.0 .500 .504 .508 .512 .516 .520 .524 .528 .532 .536 0.1 .540 .544 .548 .552 .556 .560 .564 .568 .571 .575 0.2 .580 .583 .587 .591 .595 .599 .603 .606 .610 .614 0.3 .618 .622 .626 .630 .633 .637 .641 .644 .648 .652 0.4 .655 .659 .663 .666 .670 .674 .677 .681 .684 .688 0.5 .692 .695 .699 .702 .705 .709 .712 .716 .719 .722 0.6 .726 .729 .732 .736 .740 .742 .745 .749 .752 .755 0.7 .758 .761 .764 .767 .770 .773 .776 .779 .782 .785 0.8 .788 .791 .794 .797 .800 .802 .805 .808 .811 .813 0.9 .816 .819 .821 .824 .826 .829 .832 .834 .837 .839 1.0 .841 .844 .846 .849 .851 .853 .855 .858 .850 .862 1.1 .864 .867 .869 .871 .873 .875 .877 .879 .881 .883 1.2 .885 .887 .889 .891 .893 .894 .896 .898 .900 .902 1.3 .903 .905 .907 .908 .910 .912 .913 .915 .916 .918 1.4 .919 .921 .922 .924 .925 .927 .928 .929 .931 .932 1.5 .933 .935 .936 .937 .938 .939 .941 .942 .943 .944 1.6 .945 .946 .947 .948 .950 .951 .952 .953 .954 .955 1.7 .955 .956 .957 .958 .959 .960 .961 .962 .963 .963 1.8 .964 .965 .966 .966 .967 .968 .969 .969 .970 .971 1.9 .971 .972 .973 .973 .974 .974 .975 .976 .976 .977 2.0 .977 .978 .978 .979 .979 .980 .980 .981 .981 .982 2.1 .982 .983 .983 .983 .984 .984 .985 .985 .985 .986 2.2 .986 .986 .987 .987 .988 .988 .988 .988 .989 .989 2.3 .989 .990 .990 .990 .990 .991 .991 .991 .991 .992 2.4 .992 .992 .992 .993 .993 .993 .993 .993 .993 .994 2.5 .994 .994 .994 .994 .995 .995 .995 .995 .995 .995 2.6 .995 .996 .996 .996 .996 .996 .996 .996 .996 .996 2.7 .997 .997 .997 .997 .997 .997 .997 .997 .997 .997 Using the Table to Calculate Normal Distribution In order to properly use the above table, its important to understand how it functions. Take for example a z-score of 1.67. One would split this number into 1.6   and .07, which provides a number to the nearest tenth (1.6) and one to the nearest hundredth (.07). A statistician would then locate 1.6 on the left column then locate .07 on the top row. These two values meet at one point on the table and yield the result of .953, which can then be interpreted as a percentage which defines the area under the bell curve that is to the left of z1.67. In this instance, the normal distribution is 95.3 percent  because 95.3 percent of the area below the bell curve is to the left of the z-score of 1.67. Negative z-Scores and Proportions The table may also be used to find the areas to the left of a negative z-score. To do this, drop the negative sign and look for the appropriate entry in the table. After locating the area, subtract .5 to adjust for the fact that z is a negative value. This works because this table is symmetric about the y-axis. Another use of this table is to start with a proportion and find a z-score.   For example, we could ask for a randomly distributed variable. What z-score denotes the point of the top ten percent  of the distribution? Look in the table and find the value that is closest to 90 percent, or 0.9. This occurs in the row that has 1.2 and the column of 0.08.   This means that for z 1.28 or more, we have the top ten percent  of the distribution and the other 90 percent of the distribution are below 1.28. Sometimes in this situation, we may need to change the z-score into a random variable with a normal distribution. For this, we would use the formula for z-scores.

Life Transformation In Into The Wild - Free Essay Example

Sample details Pages: 3 Words: 938 Downloads: 1 Date added: 2019/04/05 Category Literature Essay Level High school Tags: Into The Wild Essay Did you like this example? In the novel Into The Wild, by Jon Krakauer, advances to catalog the life of an intelligent graduate student and former athlete, Chris McCandless. As well as how he suddenly decided to drop everything such as his possessions, all of his money, and a possible career. After realizing he didn’t need or want to continue to pursue a wealthy lifestyle, he sets out on a massive independant hitchhiking journey from the east coast, all the way towards the outdoor freezing portions of Alaska. Don’t waste time! Our writers will create an original "Life Transformation In Into The Wild" essay for you Create order Only after a short four months, 113 days, McCandless was found dead in an abandoned bus in the Alaskan summit by a few hikers, in which his cause of death became ruled as starvation. McCandless determines that he wants to course his life into the wild for reasons such as seeking different forms of adventure, a life without responsibilities, happiness, and to simply get away from his personal life in order to find peace of his own. Although he didn’t have enough supplies, and wasn’t fully prepared to enter a life in an unaccompanied solitary fate in the wild which resulted in him being a victim of his own demise. First of all, Krakauer discusses how McCandless had an adventurous ego who wanted to exceed beyond his limits. Throughout his journey, he explains to individuals he meets along the way about his devotion towards adventuring to his own standards. For Instance, â€Å"The very basic core of a mans living spirit is his passion for adventure†¦ The joy of life comes from our encounters with new experiences, and hence there is no greater joy than to have an endlessly changing horizon, for each day to have a new and different sun† (Krakauer 41). This indicates that McCandless wanted to look for something he could relate to. Watching a change of scenery and exploring new territory, proposes a different outcome of situations. He was most likely searching for answers in the unknown portions of the country, to find happiness. Not only to be in peace with nature, but with himself as well. Accomplishing what he felt like he wanted to do with no one telling him otherwise was a key thoug ht in his state of mind. He wanted self discovery and identify his place in the world where he could fit in doing what he wanted to do. Furthermore, McCandless wanted to set out on a quest and find purpose in life without responsibilities. He had spent his early life in college, playing sports and achieving good grades. That is when he realized that what life would be like if one didn’t have to do the same thing over and over, and have someone tell him what to do. For example, No phone. No pool. No pets. No cigarettes. Ultimate freedom No longer to be poisoned by civilization, he flees, and walks alone upon the land to become Lost in the Wild† (Krakauer 163). This demonstrates that he was in belief that life would become easier for him if he left everything behind and started a new life on his own with no one telling him otherwise, or how to live his life. To have no control over necessities or worries on a quality level was the easiest direction he thought he could head in. Also, his dissatisfaction with the current world of society, especially since he came from the upper class. He gave introverted beh avior by wanting to leave civilization and barrier himself from the rest of the world. Moreover, one of the most important reasons why he left to explore further West was the need to get away from his home. His previous life consisted of a wealthy first class family, in which he was not in a very fond relationship with. McCandless seemed to avoid mentioning them hence why he maybe went by an alias of Alexander Supertramp. He decided to continue his journey so he couldn’t feel like he was being controlled anymore. For instance, â€Å"Children tend to be harsh judges when it comes to their parentsand this was especially true in Chris’s case. More even than most teens, he tended to see things in black and white. He measured himself and those around him by an impossibly rigorous moral code† (Krakauer 122). Growing up in a first class family, he must of felt snared within his parents grasp, making it feel like he has to do things under their standards and satisfaction instead of achieving his own goals. Since, he was in a community where there was alway s people around him, he wanted to become self sufficient and survive on his own since he had no experience with that. Living in a society where one isn’t supervised or judged is what McCandless was going for. To conclude, I believe that Chris McCandless went into the wild to seek peace, but only sustained it for a short period of time. Despite that he lasted two years away from home but only 113 days in the bitter wilderness, he was short on supplies and wasn’t prepared enough to fully intake the difficulties and requirements in order to truly survive into the wild. He may have found what he was looking for, had found motivation that encouraged him to move forward. But, the rest of his story and true aspects will remain unknown since his journey had a tragic unfortunate end. Overall, his true ideal hopes and expectations heading into the wild were his strong interest for adventure, a life without control or authority, and to leave his personal life behind to find a new place of tranquility of his own.