Assignment based on Marketing Strategy and Plan

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Requirement

Assignment based on Marketing Strategy and Plan
CASE STUDY: Bear Nibbles

Solution

Executive Summary 

Bear Nibble is known as the smallest organization which provides different products to its existing customers. The organization operates in different business segments. It provides its customers with all facilities of better health and low calories in its products. This report mainly focuses on the feasibility of the strategies of Bear Nibbles. Internal and external analysis of the organization is performed to understand the different internal and external factors which influence the success of the organization in high context. PESTEL and Porter's five model study is utilized to understand the different external factors, or SWOT analysis is utilized to understand the core competencies and opportunities of the organization. Analysis of these factors helpful in developing and implementing the successful strategies.

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Introduction 

Bear Nibbles is considered as an organization which is engaged in producing delicious natural food products such as paws, yoyos, alphabites, and fruit nibbles. The quality of its products makes it different from the other existing food organizations. It was established during 2009 with its headquarter in London, GB, and England. In this paper, we will study about the internal and external analysis of the organization by using different tools. This will help us in suggesting a better strategic plan for the success of the organization. It is a private organization which is considered subsidiary of Lotus Bakeries. It offers attractive food options to its customers so that it can enhance its brand image in the eyes of people. It produced its products with gently baked fresh fruit, whole grains and vegetables. This will enable the organization to produce health conscious food with low sugar level. Till now, the organization is earning $17.7 million revenue which enables it to bring latest innovative and tasty food products. The estimated employees of the organization are approximate 81 which makes it possible to compete in its existing market in an efficient manner (Rothaermel, 2015). The main competitors of the organization are Mondelez International, Kellogs, MARS, PepsiCo, and Nestle. It can be said that the dried fruit snacking category in the UK has been faced a tremendous growth from last some year and benefiting enlarge the different food products organization in the UK. Therefore, the main challenge in front of the Bear Nibbles was to create engagement with customers. This will offer the organization, functional as well as emotional benefits. The UK industry is considered the most successful industry and is considered the fifth-largest national economy industry in the whole world. There are a large number of industries contributes towards the economy of the US. It operates under food and beverages industry of UK which is considered a larger industry as per the revenue than other industries of the business sectors.  

External Analysis

It is necessary to understand the external environment of the organization if it wants to survive for a long time in its available market. External factors influence the profitability of the organization in a significant manner (Eden, 2013). It is the key part of the planning of the organization. The external environment of the Bear Nibbles can be understood by studying following tools: 

PESTEL Analysis

This tool is utilized to understand the macroeconomic factors of the organization which can be helpful in measuring the external opportunities and threats. Its components are:

Political Analysis
Generally, it is considered that the political environment of the UK is highly covered by the policies and regulations formulated by the government in the country (Rachet, 2014). Great Britain is considered as a constitutional monarchy for the country.  Furthermore, the government of the country also formulate some defense strategies to regulate the performance of different types of industries in the country. Constitution monarchy means that the official head of the state is considered the monarch by her or his powers are limited by the constitution. Political factors of the state are following:

  • Accession of new members

  • EU regulations

  • Updated laws

Thus, it can be said that government and politics play an important role in the success of a business organization. The political influence on the food products market is generally not as pronounced as it is with the other markets. Food product is considered safe products and thus is not subject to extensive political debate. So, the organization need not to worry about the influence of the political factors.

Economic Analysis
The economy of the UK is considered the sixth largest economy in the whole world if it measured by the nominal GDP and eighth largest if it is measured as per the purchasing power. In the 8th century, the UK was considered the first country in the world to industrialize and the second industrial revolution in the country and Germany represented a growing economic challenge to Britain (Martin, 2013). The below mentioned are some economic factors: 

  • Changes in rate of interest

  • Attack by terrorist during 2001 influenced all the people of the industry

  • People were scared to make investments and travel.

  • Sterling and growing strength of Euro is making the economy of the UK very stronger

The economic atmosphere of the country will play a significant role in shaping the failure and success of the organization. Interest Rate and Unemployment is considered the most influential factor for the organization. It is because if the rates of interest are too high than the borrowing cost of the organization enhancing due to which the organization is not able to expand the size of its business.

Social Analysis
Working in the industries is highly influenced due to the circumstances of the society in which they operating (Sölvell, 2015). The below mentioned are some social factors:

  • Having ageing people in the society of the UK

  • Different types of sports, tourism, and leisure activities are available

  • The society of the UK permits all types of workers from all over the world.

  • The London 2012 helped the country in fostering the identity of the UK.

In addition, it can be said that buying habits and lifestyle factors of social environment influencing the organization in greater extent. All this happens because sale of food products depends mostly on the buying habits and requirements of the people.

Technological Analysis
The important thing regarding information technology is to improve the internet technology influence the economy of the country in a significant manner. The industrial areas of the city utilize internet technology to identify their global customers and also help them in providing the enough knowledge about the recently developed products which can provide lots of satisfaction to them (Becker, 2016). Furthermore, the below mentioned are some technological factors:

  • High competition among the organizations within the market.

  • Most of the people are familiar with the current and prevailing technologies

  • Responsive to the current technologies

The invention of new material is considered the important influential technological factor because the invention can enable the organization to changes the current technology of existing products. Through doing this, the organization can extend its maturity period and can survive for a long time in the market.

Environmental Analysis
The physical environment of the country is also a big challenge in front of different operations organizations in the national market of the country. Generally, the physical environment of the country may be seen as relatively benign in comparison to the physical environment of the other countries because it suffers more with the high intensity of natural disasters like forest fires and earthquake (Dey, 2016). The below mentioned are some environmental factors:

  • Changes in climate

  • High-level concentration on business sustainability

  • More critical standards and expectations on waste disposal.

Finally, it can be stated that the awareness about the environmental aspects stabilize the business process for a long time through which the organization can generate more profit in its future time period.

Legal Analysis
The environment of the country is highly covered by different legal standards and regulations. Equal opportunities legislation and various others are specially designed to protect the rights of individuals and ensure equality both in the recruitment and selection process or the workplace. The below mentioned are some legal factors:

  • Product and Health safety regulations

  • Moderate rate of different types of regulatory changes (Davis, 2013)

  • Regulation on ingredients of GMO.

All these risk factors have a significant influence on the working of the organization. It is necessary for the management of Bear Nibbles to pay more consideration to these factors. These could be a threat or an opportunity for the organization. These are threats because in the absence of proper control on all such factors influence its overall profitability and these are opportunities because the presence of all factors enables the organization to expand its business and gain a competitive advantage in its existing market.

Competitive Environment

There is huge competition in the food industry of US. The main competitors of Bear Nibbles are Nestle, Kellogg's, Tyson foods, PepsiCo, and Coca-Cola. All these competitors influence the strategic position of Bear Nibbles in a greater manner (Galbraith?Emami, 2013). The competitive environment of the organization can study effectively by using Porter five forces model.

Industry Attractiveness: Porter Five Forces

Threats of New Entrants
There is a large potential for profits in the food and beverages industry. Due to this, HSBC needs to face more market entry threats. All these threats play an efficient role in making or breaking the organization. In this regard, the organization is able to create some entry barriers to maintaining its competitive position in the market.    Likely Impact
High
Bargaining Power of Consumers
Buyer power is considered the most important factor of the microeconomic environment. It influences the occupation of value formulated by the organization at its marketplace. The main determinants of this force are customer concentration and size of operations. The organization has the capability to manage its customers efficiently which permits the organization to gain customer satisfaction and loyalty.    
Low
Bargaining Power of Suppliers
It is considered that power of supplier represents the power of buyers. This force of external analysis is mainly focusing on significant concentration and size of suppliers which is also related to the different competitors (Dey, 2016). Supplier power force also concentrates on differentiation level in the materials being supplied by different suppliers.    
Low
Threats of Substitutes
Bear Nibbles is also aware of the fact that their competitor organization will offer new services and products in the near future.  Availability of these substitute products enforces the organization to work hard to maintain its position.    
High
Competitive Rivalry
It is considered that the organization has large rivals in the food and beverage sector. Thus, the degree of competition forces the organization to develop efficient strategies to maintain its leadership position in its existing market.  In addition, because of the abilities of the high-level competitive organization, Bear Nibbles formulated different strategic plans to make sure that they are able to maintain its competitive position in its existing market by being the number one choice of customers (Porter, 2014).    
High
Overall Industry Attractiveness
Overall it can be said that food industry is very attractive. Due to availability of high profit and long term survival lots of different business firms attracted towards it (Grant, 2016).    
Customer Analysis
Customers are that which purchases the products of the organization. It served a large number of customers. Its potential customers can be determined by conducting the study of its segmentation and target market (Hämäläinen, 2015). Target market and market segmentation of Bear Nibbles are following:

Market Segmentation

The demographic segment is known as the study of the human population living in various different areas, their spending habits, age, jobs, gender, ethnicity, and their income. Through the demographic study, the organization is able to segment its market which enables the organization in identifying their potential customers. The demographic segment is considered the sum of various aspects like Marital Status, Age, Size of Population, Education, Occupation, Race and Ethnicity. Knowledge about all these aspects of Demographic segment enables the organization in gathering detailed information about their target customers like their needs, preferences, lifestyle, and status. Through this, the organization can satisfy them by providing the products as per their requirements. Studying the Demographic Segment also enable the organization to avoid all unnecessary costs which ultimately boost up the cost of their product. On the other hand, psychographic segmentation is also done by the organization. It divides its customers on the basis of their personality, lifestyle, and social class which helps the organization in producing products as per their requirements. Necessary information about the demographic segment can be collected through using various sources like Bureau of Labor Statistics. Spending habits and income of the individuals are considered important demographic factors of the organization. Products of the Bear Nibbles usually imparted to some specific income groups like high-quality products of Bear Nibbles. It can fulfill all the demands of their target consumers in an effective way because the management of the organization is fully aware of the requirements and tastes of its customers.
Finally, it can be stated that the awareness about the aspects of the demographic and psychographic segmentations stabilize the business process for a long time through which the organization can generate more profit in its future time period. Some opportunities for organization can be:

  • Enhancing the demand of consumers for food product

  • Growing aging market in Western countries

  • But apart from opportunities it also raises some threats for the organization which should be handled more efficiently. Threat can be:

  • Enhancing level of struggle from existing customers

Target Market

It is difficult to measure the proper market segment of the organization. But the organization mainly offers its products to satisfied different types of customer requirements. Promotion of its products is done by the organization to enhance its existing sales. The target customers of the organization are mainly children and youngsters such as girls, adults, and mothers. Most of its products are specially designed to sell females and children because they like to eat more baking and fruits products.
After studying all this, it can be said that the organization is mainly providing its product to children, teenagers because they are contributing the large part of the overall population of UK.
Customers in the world can be of different types. Prevailing trends in the market and the industry influence their lifestyle in the largest manner (Beck, 2014). It is required for the organization to establish its better values so that it can create loyal customers for its products and services. Modern environment is prevailing today, and most of the customers prefer the innovative and different product. This dynamic environment influences the overall working style of organization.
The organization establish its brand value by delivering sustained empowered people, building trust and acting responsibly. All these concepts of the organization enable it to create its brand image in the eyes of the customer. It mainly follows below mentioned principles to create its brand value: 

  • It only sells those products at which it feels proud.

  • It cares for customers and consumers in the world where it exists.

  • It believes in the win with inclusion and diversity (Wang, 2012).

  • It speaks with candour and truth.

  • Succeed together and respect others.

Internal Analysis

Internal analysis of Bear Nibbles is done to understand the strengths and Weaknesses of the organization (Martin, 2013). To analyze the internal environment of the organization SWOT analysis proves an important tool. 

SWOT Analysis

For conducting the SWOT analysis, we utilized the convert and match matrix method. With the help of this method, we are able to determine strategic recommendations for Bear Nibbles to move further. SWOT analysis effectively helps the Bear Nibbles to formulate its future strategies so that it can gain a competitive advantage in the market. The strengths, Weaknesses, Opportunities, and Threats mentioned in the following table enables the organization to formulate its business strategies as per the competitor’s initiatives. Convert and Match method is an easier way to applying the SWOT matrix to formulate business strategies. There are two sets of recommendations derived from convert and match matrix (Sun, 2016). The strategic recommendations completely depend on converting a weakness into strength or threat into an opportunity. And the other strategic recommendations are based on matching strength with an opportunity to create a competitive advantage for the organization in its relative market. 

  • Excellent financial position and good brand image in the market. 

  • Competitive base of customers reduce level of available risk (Bohari, 2013)

  • Expansion of portfolio to include products with higher stiffness, and impact, improved wear and enhanced the appearance or low emissions

  • Core competency in developing differentiated products

    List of Weaknesses

  • 1.    High capacity constraints due to labor disruption or construction delays 

  • 2.    Poor relationship with supplier due to the inability of a supplier to meet delivery orders on a timely basis. 

  • 3.    It strongly associate itself in the small business sector, but the existing economic position has led to growth in risks 

  • 4.    Involvement in sub-prime markets of US lent to high-risk (Hossain, 2015).

External    List of Opportunities

  1. Possibility of expansion in another country

  2. Diversifying portfolio for different customers.

    List of Threats

  1. High competition between industry competitors 

  2. Increasing volatility in prices and availability of raw materials has a significant negative impact on the financial margins. 

  3. Fluctuations in environmental regulations concerning climate change influence the profitability level (Moghaddaszadeh,  2015) 

  4. Presence of various unanticipated operational or commercialization difficulties such as the development of competing technologies

McKinsey 7s Model

It is a tool to measure the design of the organization by looking 7 Key internal elements which ar3 following:

  • 1.    Strategy: The main strategy which the organization is following is differentiation strategy with which it can make it different from its existing competitors (Almazari, 2014). It helps the organization in gaining a competitive advantage by accomplishing its mission and values successfully.

  • 2.    Structure: The organization mainly utilized vertical hierarchy business structure to successfully sharing its information with its employees. This enables the organization to  deliver all important things to its employees effectively. This will be helpful in reducing the ambiguity level in the organization.

  • 3.    Systems: It mainly follows a top-down approach where all the decisions are taken by the top level executives. This will help the organization in enforcing an efficient control in its day to day activities (Shiri, 2015).

  • 4.    Skills: The employees of the organization have a large experience in producing food products. Apart of it, they specialise in the taste of different ingredients with which they make the products of organization special.

  • 5.    Staff: The organization has collaborative staff with 80 members. Due to the lack in number they coordinating with each other in an efficient manner. The organization provide different types of financial and non-financial benefits to motivate them.

  • 6.    Style: The management of the organization mainly utilize the autocratic style to encourage more and more participation from employees (Mitchell, 2015).

  • 7.    Shared Values: The management of the organization mainly utilize customer relationship management system to share its values with its customers or its employees.

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Analysis of resources and competencies of Bear Nibbles

Threshold Resource    Unique Resources

  • Human Resources

  • Financial Resources

  • Intellectual capital  (Sani, 2016)

  • Physical Resources  

  • Yoyos

  • Alphabites

  • Fruit Nibble

  • Paws

Threshold Competencies    Core Competencies

  • Healthier product

  • Low Calories

  • Customer services 

  • Capturing value from international network (Shen, 2013)

  • International trade facilitation

  • Less Prices

Stakeholder Analysis

Bear Nibbles enjoys the stature of the dominant force due to its famed distribution systems. It goes in the market through a distribution network of extraordinary flexibility and strength which work as the core competency of the organization. It is because the organization satisfies the different sustainable competitive advantage by using it such as rare, valuable capability, and non-substitutable.

Conclusion

After studying all this, it can be concluded that the organization need to pay huge attention to the development of its necessary business strategies because the success of the organization highly depends on its strategies. Furthermore, sustainability in business operations can maintain by the organization through following the proper development and implementation process of strategy (Gentry, 2012). Through this, the organization is able to attract a large number of customers towards the services offered by it. It ensures the long time success of Bear Nibble in a global market. 

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