RelishMIX:Building Social Media Management Tools for Hollywood SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Sales & Marketing
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of RelishMIX:Building Social Media Management Tools for Hollywood
A serial entrepreneur in the entertainment space develops a data analytics system based on social media activity. The startup faces the challenges of market selection, monetization, and maintaining the balance of scope and revenue. Specifically, should the firm adopt a pricing model designed to capture the more elusive big TV networks or target smaller production firms with shorter sales cycles? Is there a way to succeed with both?
Swot Analysis of "RelishMIX:Building Social Media Management Tools for Hollywood" written by Greg Autry, Jeremy Dann, Eric Kim includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Relishmix:building Monetization facing as an external strategic factors. Some of the topics covered in RelishMIX:Building Social Media Management Tools for Hollywood case study are - Strategic Management Strategies, Pricing, Social platforms and Sales & Marketing.
Some of the macro environment factors that can be used to understand the RelishMIX:Building Social Media Management Tools for Hollywood casestudy better are - – competitive advantages are harder to sustain because of technology dispersion, banking and financial system is disrupted by Bitcoin and other crypto currencies, there is increasing trade war between United States & China, increasing inequality as vast percentage of new income is going to the top 1%, central banks are concerned over increasing inflation, increasing energy prices, challanges to central banks by blockchain based private currencies,
customer relationship management is fast transforming because of increasing concerns over data privacy, wage bills are increasing, etc
Introduction to SWOT Analysis of RelishMIX:Building Social Media Management Tools for Hollywood
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in RelishMIX:Building Social Media Management Tools for Hollywood case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Relishmix:building Monetization, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Relishmix:building Monetization operates in.
According to Harvard Business Review, 75% of the managers use SWOT analysis for various purposes such as – evaluating current scenario, strategic planning, new venture feasibility, personal growth goals, new market entry, Go To market strategies, portfolio management and strategic trade-off assessment, organizational restructuring, etc.
SWOT Objectives / Importance of SWOT Analysis and SWOT Matrix
SWOT analysis of RelishMIX:Building Social Media Management Tools for Hollywood can be done for the following purposes –
1. Strategic planning using facts provided in RelishMIX:Building Social Media Management Tools for Hollywood case study
2. Improving business portfolio management of Relishmix:building Monetization
3. Assessing feasibility of the new initiative in Sales & Marketing field.
4. Making a Sales & Marketing topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Relishmix:building Monetization
Strengths RelishMIX:Building Social Media Management Tools for Hollywood | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Relishmix:building Monetization in RelishMIX:Building Social Media Management Tools for Hollywood Harvard Business Review case study are -
Effective Research and Development (R&D)
– Relishmix:building Monetization has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in, as mentioned in case study RelishMIX:Building Social Media Management Tools for Hollywood - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Analytics focus
– Relishmix:building Monetization is putting a lot of focus on utilizing the power of analytics in business decision making. This has put it among the leading players in the industry. The technology infrastructure suggested by Greg Autry, Jeremy Dann, Eric Kim can also help it to harness the power of analytics for – marketing optimization, demand forecasting, customer relationship management, inventory management, information sharing across the value chain etc.
Cross disciplinary teams
– Horizontal connected teams at the Relishmix:building Monetization are driving operational speed, building greater agility, and keeping the organization nimble to compete with new competitors. It helps are organization to ideate new ideas, and execute them swiftly in the marketplace.
Successful track record of launching new products
– Relishmix:building Monetization has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Relishmix:building Monetization has effective processes in place that helps in exploring new product needs, doing quick pilot testing, and then launching the products quickly using its extensive distribution network.
Diverse revenue streams
– Relishmix:building Monetization is present in almost all the verticals within the industry. This has provided firm in RelishMIX:Building Social Media Management Tools for Hollywood case study a diverse revenue stream that has helped it to survive disruptions such as global pandemic in Covid-19, financial disruption of 2008, and supply chain disruption of 2021.
Strong track record of project management
– Relishmix:building Monetization is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
High switching costs
– The high switching costs that Relishmix:building Monetization has built up over years in its products and services combo offer has resulted in high retention of customers, lower marketing costs, and greater ability of the firm to focus on its customers.
High brand equity
– Relishmix:building Monetization has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Relishmix:building Monetization to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Ability to lead change in Sales & Marketing field
– Relishmix:building Monetization is one of the leading players in its industry. Over the years it has not only transformed the business landscape in its segment but also across the whole industry. The ability to lead change has enabled Relishmix:building Monetization in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Sustainable margins compare to other players in Sales & Marketing industry
– RelishMIX:Building Social Media Management Tools for Hollywood firm has clearly differentiated products in the market place. This has enabled Relishmix:building Monetization to fetch slight price premium compare to the competitors in the Sales & Marketing industry. The sustainable margins have also helped Relishmix:building Monetization to invest into research and development (R&D) and innovation.
Highly skilled collaborators
– Relishmix:building Monetization has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive segment. Secondly the value chain collaborators of the firm in RelishMIX:Building Social Media Management Tools for Hollywood HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Training and development
– Relishmix:building Monetization has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in RelishMIX:Building Social Media Management Tools for Hollywood Harvard Business Review case study by analyzing – employees retention, in-house promotion, loyalty, new venture initiation, lack of conflict, and high level of both employees and customer engagement.
Weaknesses RelishMIX:Building Social Media Management Tools for Hollywood | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of RelishMIX:Building Social Media Management Tools for Hollywood are -
Skills based hiring
– The stress on hiring functional specialists at Relishmix:building Monetization has created an environment where the organization is dominated by functional specialists rather than management generalist. This has resulted into product oriented approach rather than marketing oriented approach or consumers oriented approach.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Relishmix:building Monetization is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study RelishMIX:Building Social Media Management Tools for Hollywood can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study RelishMIX:Building Social Media Management Tools for Hollywood, is just above the industry average. Relishmix:building Monetization needs to redesign the compensation structure and incentives to increase the revenue per employees. Some of the steps that it can take are – hiring more specialists on project basis, etc.
Capital Spending Reduction
– Even during the low interest decade, Relishmix:building Monetization has not been able to do capital spending to the tune of the competition. This has resulted into fewer innovations and company facing stiff competition from both existing competitors and new entrants who are disrupting the industry using digital technology.
High operating costs
– Compare to the competitors, firm in the HBR case study RelishMIX:Building Social Media Management Tools for Hollywood has high operating costs in the. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract Relishmix:building Monetization 's lucrative customers.
Low market penetration in new markets
– Outside its home market of Relishmix:building Monetization, firm in the HBR case study RelishMIX:Building Social Media Management Tools for Hollywood needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Products dominated business model
– Even though Relishmix:building Monetization has some of the most successful products in the industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. firm in the HBR case study - RelishMIX:Building Social Media Management Tools for Hollywood should strive to include more intangible value offerings along with its core products and services.
Aligning sales with marketing
– It come across in the case study RelishMIX:Building Social Media Management Tools for Hollywood that the firm needs to have more collaboration between its sales team and marketing team. Sales professionals in the industry have deep experience in developing customer relationships. Marketing department in the case RelishMIX:Building Social Media Management Tools for Hollywood can leverage the sales team experience to cultivate customer relationships as Relishmix:building Monetization is planning to shift buying processes online.
Increasing silos among functional specialists
– The organizational structure of Relishmix:building Monetization is dominated by functional specialists. It is not different from other players in the Sales & Marketing segment. Relishmix:building Monetization needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Relishmix:building Monetization to focus more on services rather than just following the product oriented approach.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study RelishMIX:Building Social Media Management Tools for Hollywood, it seems that the employees of Relishmix:building Monetization don’t have comprehensive understanding of the firm’s strategy. This is reflected in number of promotional campaigns over the last few years that had mixed messaging and competing priorities. Some of the strategic activities and services promoted in the promotional campaigns were not consistent with the organization’s strategy.
No frontier risks strategy
– After analyzing the HBR case study RelishMIX:Building Social Media Management Tools for Hollywood, it seems that company is thinking about the frontier risks that can impact Sales & Marketing strategy. But it has very little resources allocation to manage the risks emerging from events such as natural disasters, climate change, melting of permafrost, tacking the rise of artificial intelligence, opportunities and threats emerging from commercialization of space etc.
Opportunities RelishMIX:Building Social Media Management Tools for Hollywood | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities highlighted in the Harvard Business Review case study RelishMIX:Building Social Media Management Tools for Hollywood are -
Using analytics as competitive advantage
– Relishmix:building Monetization has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in the sector. This continuous investment in analytics has enabled, as illustrated in the Harvard case study RelishMIX:Building Social Media Management Tools for Hollywood - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Relishmix:building Monetization to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Developing new processes and practices
– Relishmix:building Monetization can develop new processes and procedures in Sales & Marketing industry using technology such as automation using artificial intelligence, real time transportation and products tracking, 3D modeling for concept development and new products pilot testing etc.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Relishmix:building Monetization in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Sales & Marketing segment, and it will provide faster access to the consumers.
Buying journey improvements
– Relishmix:building Monetization can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. RelishMIX:Building Social Media Management Tools for Hollywood suggest that firm can provide automated chats to help consumers solve their own problems, provide online suggestions to get maximum out of the products and services, and help consumers to build a community where they can interact with each other to develop new features and uses.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Relishmix:building Monetization can use these opportunities to build new business models that can help the communities that Relishmix:building Monetization operates in. Secondly it can use opportunities from government spending in Sales & Marketing sector.
Manufacturing automation
– Relishmix:building Monetization can use the latest technology developments to improve its manufacturing and designing process in Sales & Marketing segment. It can use CAD and 3D printing to build a quick prototype and pilot testing products. It can leverage automation using machine learning and artificial intelligence to do faster production at lowers costs, and it can leverage the growth in satellite and tracking technologies to improve inventory management, transportation, and shipping.
Reconfiguring business model
– The expansion of digital payment system, the bringing down of international transactions costs using Bitcoin and other blockchain based currencies, etc can help Relishmix:building Monetization to reconfigure its entire business model. For example it can used blockchain based technologies to reduce piracy of its products in the big markets such as China. Secondly it can use the popularity of e-commerce in various developing markets to build a Direct to Customer business model rather than the current Channel Heavy distribution network.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Relishmix:building Monetization can build a diversified supply chain model across various countries in - South East Asia, India, and other parts of the world. This reconfiguration of global supply chain can help, as suggested in case study, RelishMIX:Building Social Media Management Tools for Hollywood, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Sales & Marketing industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Relishmix:building Monetization can take advantage of these changes in consumer behavior to build a far more efficient business model. For example consumer regular ordering of products can reduce both last mile delivery costs and market penetration costs. Relishmix:building Monetization can further use this consumer data to build better customer loyalty, provide better products and service collection, and improve the value proposition in inflationary times.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Relishmix:building Monetization to expand its talent hiring zone. According to McKinsey Global Institute, 20% of the high end workforce in fields such as finance, information technology, can continously work from remote local post Covid-19. This presents a really great opportunity for Relishmix:building Monetization to hire the very best people irrespective of their geographical location.
Leveraging digital technologies
– Relishmix:building Monetization can leverage digital technologies such as artificial intelligence and machine learning to automate the production process, customer analytics to get better insights into consumer behavior, realtime digital dashboards to get better sales tracking, logistics and transportation, product tracking, etc.
Building a culture of innovation
– managers at Relishmix:building Monetization can make experimentation a productive activity and build a culture of innovation using approaches such as – mining transaction data, A/B testing of websites and selling platforms, engaging potential customers over various needs, and building on small ideas in the Sales & Marketing segment.
Use of Bitcoin and other crypto currencies for transactions
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Relishmix:building Monetization in the consumer business. Now Relishmix:building Monetization can target international markets with far fewer capital restrictions requirements than the existing system.
Threats RelishMIX:Building Social Media Management Tools for Hollywood External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study RelishMIX:Building Social Media Management Tools for Hollywood are -
Environmental challenges
– Relishmix:building Monetization needs to have a robust strategy against the disruptions arising from climate change and energy requirements. EU has identified it as key priority area and spending 30% of its 880 billion Euros European post Covid-19 recovery funds on green technology. Relishmix:building Monetization can take advantage of this fund but it will also bring new competitors in the Sales & Marketing industry.
Backlash against dominant players
– US Congress and other legislative arms of the government are getting tough on big business especially technology companies. The digital arm of Relishmix:building Monetization business can come under increasing regulations regarding data privacy, data security, etc.
Aging population
– As the populations of most advanced economies are aging, it will lead to high social security costs, higher savings among population, and lower demand for goods and services in the economy. The household savings in US, France, UK, Germany, and Japan are growing faster than predicted because of uncertainty caused by pandemic.
Increasing wage structure of Relishmix:building Monetization
– Post Covid-19 there is a sharp increase in the wages especially in the jobs that require interaction with people. The increasing wages can put downward pressure on the margins of Relishmix:building Monetization.
Consumer confidence and its impact on Relishmix:building Monetization demand
– There is a high probability of declining consumer confidence, given – high inflammation rate, rise of gig economy, lower job stability, increasing cost of living, higher interest rates, and aging demography. All the factors contribute to people saving higher rate of their income, resulting in lower consumer demand in the industry and other sectors.
Shortening product life cycle
– it is one of the major threat that Relishmix:building Monetization is facing in Sales & Marketing sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Relishmix:building Monetization can face downward pressure on margins from increasing competition from international players. The international players have stable revenue in their home market and can use those resources to penetrate prominent markets illustrated in HBR case study RelishMIX:Building Social Media Management Tools for Hollywood .
Easy access to finance
– Easy access to finance in Sales & Marketing field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Relishmix:building Monetization can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
High level of anxiety and lack of motivation
– the Great Resignation in United States is the sign of broader dissatisfaction among the workforce in United States. Relishmix:building Monetization needs to understand the core reasons impacting the Sales & Marketing industry. This will help it in building a better workplace.
High dependence on third party suppliers
– Relishmix:building Monetization high dependence on third party suppliers can disrupt its processes and delivery mechanism. For example -the current troubles of car makers because of chip shortage is because the chip companies started producing chips for electronic companies rather than car manufacturers.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Relishmix:building Monetization with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Relishmix:building Monetization in the Sales & Marketing industry. The Sales & Marketing industry is already at various protected from local competition in China, with the rise of trade war the protection levels may go up. This presents a clear threat of current business model in Chinese market.
Instability in the European markets
– European Union markets are facing three big challenges post Covid – expanded balance sheets, Brexit related business disruption, and aggressive Russia looking to distract the existing security mechanism. Relishmix:building Monetization will face different problems in different parts of Europe. For example it will face inflationary pressures in UK, France, and Germany, balance sheet expansion and demand challenges in Southern European countries, and geopolitical instability in the Eastern Europe.
Weighted SWOT Analysis of RelishMIX:Building Social Media Management Tools for Hollywood Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers in the HBR case study RelishMIX:Building Social Media Management Tools for Hollywood needs to zero down on the relative importance of each factor mentioned in the Strengths, Weakness, Opportunities, and Threats quadrants.
We can provide the relative importance to each factor by assigning relative weights. Weighted SWOT analysis process is a three stage process –
First stage for doing weighted SWOT analysis of the case study RelishMIX:Building Social Media Management Tools for Hollywood is to rank the strengths and weaknesses of the organization. This will help you to assess the most important strengths and weaknesses of the firm and which one of the strengths and weaknesses mentioned in the initial lists are marginal and can be left out.
Second stage for conducting weighted SWOT analysis of the Harvard case study RelishMIX:Building Social Media Management Tools for Hollywood is to give probabilities to the external strategic factors thus better understanding the opportunities and threats arising out of macro environment changes and developments.
Third stage of constructing weighted SWOT analysis of RelishMIX:Building Social Media Management Tools for Hollywood is to provide strategic recommendations includes – joining likelihood of external strategic factors such as opportunities and threats to the internal strategic factors – strengths and weaknesses. You should start with external factors as they will provide the direction of the overall industry. Secondly by joining probabilities with internal strategic factors can help the company not only strategic fit but also the most probably strategic trade-off that Relishmix:building Monetization needs to make to build a sustainable competitive advantage.
