Week 4 Journal

PESTEL Analysis

Political: Immigration laws for international students
Economical: GFC can effect the amount of money people are willing to spend, could also greater effect the number of international students that will come over
Social: International Students
Technological:
Environmental: Sustainability, use of packaging and promotion
Legal: OHS, employee wages/shifts, use of music, laws and regulations


SWOT Analysis

Strengths:
• Will be positioned in the new Refectory
• New food
Weaknesses:
• Will be another Asian restaurant
Opportunities:
• To provide competitive prices
• To provide quality food
Threats:
• Other campus restaurants
• Belconnen Food Court

Chapter 4 Questions p84

1. Why is it so important for marketers to conduct environmental analysis?
It is important for marketers to conduct environmental analysis to determine external environmental trends and events that may have the potential to affect the marketing strategy, directly or indirectly.

2. Which of the five areas of environmental analysis is the most significant for marketing strategy? The least significant?
I think one of the most significant areas of environmental analysis for marketing strategy is culture. If the consumers are not willing to purchase a product because it is against their lifestyles and beliefs, there is nothing the marketing strategy can do to change this. I think the least significant could be technology. Because the marketing world is adaptable to technology change all the time, the only people it is really affecting is those creating new technology.

3. What two criteria are most important in determining whether a strategic uncertainty should be monitored and analysed?
The two criteria that are most important in determining whether a strategic uncertainty should be monitored and analysed are its impact and immediacy.

The impact of a strategic uncertainty includes: (from p. 79)
• The extent to which it involves trends and events that will have an impact on existing or potential products or brands
• The importance of the involved products/ brands
• The number of involved product/ brands

The immediacy of a strategic uncertainty relates to:
• The probability that the involved trends or events will occur
• The time frame of the trends or events
• The reaction time likely to be available, compared with the time required to develop and implement appropriate strategy

4. Why is it important to involve product and/or line managers in the conduct of scenario analysis?
It is important to involve line/ production managers in the conduct of an analysis because if they are involved in the development and testing of new strategies it allows the manager to help change mind-sets, challenge assumptions, create innovative options and legitimize new directions.

Week 4 Blog Response

“The events calendar is a simple and effective tool.

The layout is basic which allows for easy use with simple headings, which affords for easy navigation.

The search tool is an important aspect of the calendar that is also easy to use allowing users to search for particular events based on the date, location and topic of the event.

Once an event has been chosen the user is redirected to a new page, which allows them to easily select which seminar they wish to attend, and for how many people by submitting a simple form. I think this is an effective way of monitoring events as well as encouraging users to come to the seminars.”