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 - – talent flight as more people leaving formal jobs, increasing commodity prices, geopolitical disruptions, there is backlash against globalization, wage bills are increasing, increasing energy prices, banking and financial system is disrupted by Bitcoin and other crypto currencies,
customer relationship management is fast transforming because of increasing concerns over data privacy, cloud computing is disrupting traditional business models, 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 -
Learning organization
- Relishmix:building Monetization is a learning organization. It has inculcated three key characters of learning organization in its processes and operations – exploration, creativity, and expansiveness. The work place at Relishmix:building Monetization is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in RelishMIX:Building Social Media Management Tools for Hollywood Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
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.
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.
Innovation driven organization
– Relishmix:building Monetization is one of the most innovative firm in sector. Manager in RelishMIX:Building Social Media Management Tools for Hollywood Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Organizational Resilience of Relishmix:building Monetization
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Relishmix:building Monetization does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Superior customer experience
– The customer experience strategy of Relishmix:building Monetization in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Digital Transformation in Sales & Marketing segment
- digital transformation varies from industry to industry. For Relishmix:building Monetization digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Relishmix:building Monetization has successfully integrated the four key components of digital transformation – digital integration in processes, digital integration in marketing and customer relationship management, digital integration into the value chain, and using technology to explore new products and market opportunities.
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.
Low bargaining power of suppliers
– Suppliers of Relishmix:building Monetization in the sector have low bargaining power. RelishMIX:Building Social Media Management Tools for Hollywood has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Relishmix:building Monetization to manage not only supply disruptions but also source products at highly competitive prices.
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.
Operational resilience
– The operational resilience strategy in the RelishMIX:Building Social Media Management Tools for Hollywood Harvard Business Review case study comprises – understanding the underlying the factors in the industry, building diversified operations across different geographies so that disruption in one part of the world doesn’t impact the overall performance of the firm, and integrating the various business operations and processes through its digital transformation drive.
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 -
Need for greater diversity
– Relishmix:building Monetization has taken concrete steps on diversity, equity, and inclusion. But the efforts so far has resulted in limited success. It needs to expand the recruitment and selection process to hire more people from the minorities and underprivileged background.
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.
Lack of clear differentiation of Relishmix:building Monetization products
– To increase the profitability and margins on the products, Relishmix:building Monetization needs to provide more differentiated products than what it is currently offering in the marketplace.
Slow to strategic competitive environment developments
– As RelishMIX:Building Social Media Management Tools for Hollywood HBR case study mentions - Relishmix:building Monetization takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the industry in last five years.
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.
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.
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.
High cash cycle compare to competitors
Relishmix:building Monetization has a high cash cycle compare to other players in the industry. It needs to shorten the cash cycle by 12% to be more competitive in the marketplace, reduce inventory costs, and be more profitable.
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.
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.
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 -
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.
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.
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.
Creating value in data economy
– The success of analytics program of Relishmix:building Monetization has opened avenues for new revenue streams for the organization in the industry. This can help Relishmix:building Monetization to build a more holistic ecosystem as suggested in the RelishMIX:Building Social Media Management Tools for Hollywood case study. Relishmix:building Monetization can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Relishmix:building Monetization can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Loyalty marketing
– Relishmix:building Monetization has focused on building a highly responsive customer relationship management platform. This platform is built on in-house data and driven by analytics and artificial intelligence. The customer analytics can help the organization to fine tune its loyalty marketing efforts, increase the wallet share of the organization, reduce wastage on mainstream advertising spending, build better pricing strategies using personalization, etc.
Identify volunteer opportunities
– Covid-19 has impacted working population in two ways – it has led to people soul searching about their professional choices, resulting in mass resignation. Secondly it has encouraged people to do things that they are passionate about. This has opened opportunities for businesses to build volunteer oriented socially driven projects. Relishmix:building Monetization can explore opportunities that can attract volunteers and are consistent with its mission and vision.
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.
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.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Sales & Marketing industry, but it has also influenced the consumer preferences. Relishmix:building Monetization can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
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.
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 -
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.
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.
Regulatory challenges
– Relishmix:building Monetization needs to prepare for regulatory challenges as consumer protection groups and other pressure groups are vigorously advocating for more regulations on big business - to reduce inequality, to create a level playing field, to product data privacy and consumer privacy, to reduce the influence of big money on democratic institutions, etc. This can lead to significant changes in the Sales & Marketing industry regulations.
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.
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.
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.
New competition
– After the dotcom bust of 2001, financial crisis of 2008-09, the business formation in US economy had declined. But in 2020 alone, there are more than 1.5 million new business applications in United States. This can lead to greater competition for Relishmix:building Monetization in the Sales & Marketing sector and impact the bottomline of the organization.
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.
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.
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.
Technology acceleration in Forth Industrial Revolution
– Relishmix:building Monetization has witnessed rapid integration of technology during Covid-19 in the Sales & Marketing industry. As one of the leading players in the industry, Relishmix:building Monetization needs to keep up with the evolution of technology in the Sales & Marketing sector. According to Mckinsey study top managers believe that the adoption of technology in operations, communications is 20-25 times faster than what they planned in the beginning of 2019.
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.
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 .
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.