A Competitive Audit of Nestles Milo Essay examples -- Business Manage

A Competitive Audit of come nears miloI plan to produce a SWOT analysis, PEST analysis and a CompetitiveAudit on Milo. This is because Im going to need to produce a replete(p)analysis on the market place, if I intend to create the topper tradestrategy. This is important because there argon a range of options getable when creating a marketing strategy. Without these analyticalprocesses I will not be able to identify, which strategy isappropriate.I am going to produce a SWOT analysis to find out how effective Milois operate and what informal factors may influence its success. ASWOT analysis analyses the internal factors that may influence thesuccess of a business. The initials SWOT stand forStrengthsWeaknessesOpportunitiesThreatsStrengths and Weaknesses argon internal factors within the control ofthe fundamental law. Opportunities and Threats are outside the control ofthe organisation. For example, products offered by competitors, ormarket forces such as seasonal fluctuations in demand. It enables anorganisation to plan future activities by considering a reckon ofquestions such as* What are our Strengths? How can we build on them to ensure that we offer a better product than our competitors?* What are our Weaknesses? How can we eliminate them?* What are our Opportunities? How are we going to use them to attract new customers or increase the number of products that existing customers buy?* What are our Threats? How are we going to minimise them so that they do not affect sales of our products?Here are the advantages and disadvantages of employ a SWOT analysisAdvantages* set strengths (value for m unrivaledy)* Identified opportunities for marketing* Identified weaknesses (problems to be addressed)* Identified threats* Structure for analysisDisadvantages* May contain biases (If found whole strategy on SWOT information without considering validity of employ other marketing tools could cause strategy to fail)* Results/Importance/Consequences need to b e communicated to everyone in company to make it successful not just more paperwork* Prone to Human error* Focus could become too assorted and loose main objectivesHere is a SWOT analysis on MiloStrengths* Only chocolate energy drink* Unique interchange point* Big sales in other countries* Part of Nestle (reputation) funds available for relaunch* ... ...ship and adverts in Australia* Advertising on TV, bill boards etc* Sponsorships for epic sports events* Last sponsor was the Rugby World Cup* Buy one get on free* 25% extra free etc* Boosts procedure makes athletes go 25% longer* Advertisements on T.V, internet websites, bill boards, magazines, and so onTo conclude all three process (SWOT, PEST and Competitive Audit) devouraffected my strategy and marketing decisions. The SWOT analysis hashelp me to observe and comprehend my weaknesses, which will be a make because now I know my weaknesses all I need now is search fora way to eliminate them. The PEST analysis has drawn my awareness tothe out-of-door forces that may have an influence on the product (Milo).Therefore, when making marketing decisions the factors found will betaking into consideration. The competitive Audit has showed me whereMilos competitors are (what level they are on) which is also abenefit because I can see what Im up against, what I have to do toget ahead and whether Im separate in anyway. This is veryimportant in the competitive environment because as a competitor, youcannot allow rivals to gain advantages in any form or way.