Beyond the 4Ps: A New Marketing Paradigm Emerges SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Sales & Marketing
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Beyond the 4Ps: A New Marketing Paradigm Emerges
Our mental models, or mindsets, determine the way we see the world, make decisions and behave. In the realm of Marketing, the author argues that many peoples' mental models are severely outdated. He explains why the old Marketing paradigm is outdated, and describes six aspects of the new landscape that modern marketers must embrace in order to thrive in what he calls "a new marketing paradigm."
Swot Analysis of "Beyond the 4Ps: A New Marketing Paradigm Emerges" written by Yoram Wind includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Paradigm Outdated facing as an external strategic factors. Some of the topics covered in Beyond the 4Ps: A New Marketing Paradigm Emerges case study are - Strategic Management Strategies, Strategy and Sales & Marketing.
Some of the macro environment factors that can be used to understand the Beyond the 4Ps: A New Marketing Paradigm Emerges casestudy better are - – technology disruption, increasing inequality as vast percentage of new income is going to the top 1%, banking and financial system is disrupted by Bitcoin and other crypto currencies, there is increasing trade war between United States & China, customer relationship management is fast transforming because of increasing concerns over data privacy, geopolitical disruptions, competitive advantages are harder to sustain because of technology dispersion,
digital marketing is dominated by two big players Facebook and Google, supply chains are disrupted by pandemic , etc
Introduction to SWOT Analysis of Beyond the 4Ps: A New Marketing Paradigm Emerges
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Beyond the 4Ps: A New Marketing Paradigm Emerges case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Paradigm Outdated, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Paradigm Outdated operates in.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 Beyond the 4Ps: A New Marketing Paradigm Emerges can be done for the following purposes –
1. Strategic planning using facts provided in Beyond the 4Ps: A New Marketing Paradigm Emerges case study
2. Improving business portfolio management of Paradigm Outdated
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 Paradigm Outdated
Strengths Beyond the 4Ps: A New Marketing Paradigm Emerges | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Paradigm Outdated in Beyond the 4Ps: A New Marketing Paradigm Emerges Harvard Business Review case study are -
Analytics focus
– Paradigm Outdated 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 Yoram Wind 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.
Strong track record of project management
– Paradigm Outdated is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Sustainable margins compare to other players in Sales & Marketing industry
– Beyond the 4Ps: A New Marketing Paradigm Emerges firm has clearly differentiated products in the market place. This has enabled Paradigm Outdated to fetch slight price premium compare to the competitors in the Sales & Marketing industry. The sustainable margins have also helped Paradigm Outdated to invest into research and development (R&D) and innovation.
Highly skilled collaborators
– Paradigm Outdated 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 Beyond the 4Ps: A New Marketing Paradigm Emerges HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
High switching costs
– The high switching costs that Paradigm Outdated 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.
Training and development
– Paradigm Outdated has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Beyond the 4Ps: A New Marketing Paradigm Emerges 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.
Diverse revenue streams
– Paradigm Outdated is present in almost all the verticals within the industry. This has provided firm in Beyond the 4Ps: A New Marketing Paradigm Emerges 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.
Low bargaining power of suppliers
– Suppliers of Paradigm Outdated in the sector have low bargaining power. Beyond the 4Ps: A New Marketing Paradigm Emerges has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Paradigm Outdated to manage not only supply disruptions but also source products at highly competitive prices.
Innovation driven organization
– Paradigm Outdated is one of the most innovative firm in sector. Manager in Beyond the 4Ps: A New Marketing Paradigm Emerges Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Digital Transformation in Sales & Marketing segment
- digital transformation varies from industry to industry. For Paradigm Outdated digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Paradigm Outdated 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.
Learning organization
- Paradigm Outdated 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 Paradigm Outdated is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Beyond the 4Ps: A New Marketing Paradigm Emerges Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Operational resilience
– The operational resilience strategy in the Beyond the 4Ps: A New Marketing Paradigm Emerges 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 Beyond the 4Ps: A New Marketing Paradigm Emerges | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Beyond the 4Ps: A New Marketing Paradigm Emerges are -
Increasing silos among functional specialists
– The organizational structure of Paradigm Outdated is dominated by functional specialists. It is not different from other players in the Sales & Marketing segment. Paradigm Outdated needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Paradigm Outdated to focus more on services rather than just following the product oriented approach.
High dependence on existing supply chain
– The disruption in the global supply chains because of the Covid-19 pandemic and blockage of the Suez Canal illustrated the fragile nature of Paradigm Outdated supply chain. Even after few cautionary changes mentioned in the HBR case study - Beyond the 4Ps: A New Marketing Paradigm Emerges, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Paradigm Outdated vulnerable to further global disruptions in South East Asia.
Lack of clear differentiation of Paradigm Outdated products
– To increase the profitability and margins on the products, Paradigm Outdated needs to provide more differentiated products than what it is currently offering in the marketplace.
Capital Spending Reduction
– Even during the low interest decade, Paradigm Outdated 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.
Need for greater diversity
– Paradigm Outdated 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.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the Beyond the 4Ps: A New Marketing Paradigm Emerges HBR case study still accounts for major business revenue. This dependence on star products in has resulted into insufficient focus on developing new products, even though Paradigm Outdated has relatively successful track record of launching new products.
Workers concerns about automation
– As automation is fast increasing in the segment, Paradigm Outdated needs to come up with a strategy to reduce the workers concern regarding automation. Without a clear strategy, it could lead to disruption and uncertainty within the organization.
Aligning sales with marketing
– It come across in the case study Beyond the 4Ps: A New Marketing Paradigm Emerges 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 Beyond the 4Ps: A New Marketing Paradigm Emerges can leverage the sales team experience to cultivate customer relationships as Paradigm Outdated is planning to shift buying processes online.
Slow to strategic competitive environment developments
– As Beyond the 4Ps: A New Marketing Paradigm Emerges HBR case study mentions - Paradigm Outdated 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.
No frontier risks strategy
– After analyzing the HBR case study Beyond the 4Ps: A New Marketing Paradigm Emerges, 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 Paradigm Outdated, firm in the HBR case study Beyond the 4Ps: A New Marketing Paradigm Emerges needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Opportunities Beyond the 4Ps: A New Marketing Paradigm Emerges | 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 Beyond the 4Ps: A New Marketing Paradigm Emerges are -
Leveraging digital technologies
– Paradigm Outdated 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.
Better consumer reach
– The expansion of the 5G network will help Paradigm Outdated to increase its market reach. Paradigm Outdated will be able to reach out to new customers. Secondly 5G will also provide technology framework to build new tools and products that can help more immersive consumer experience and faster consumer journey.
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 Paradigm Outdated 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.
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. Paradigm Outdated can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Developing new processes and practices
– Paradigm Outdated 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.
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 Paradigm Outdated in the consumer business. Now Paradigm Outdated can target international markets with far fewer capital restrictions requirements than the existing system.
Learning at scale
– Online learning technologies has now opened space for Paradigm Outdated to conduct training and development for its employees across the world. This will result in not only reducing the cost of training but also help employees in different part of the world to integrate with the headquarter work culture, ethos, and standards.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Paradigm Outdated 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.
Low interest rates
– Even though inflation is raising its head in most developed economies, Paradigm Outdated can still utilize the low interest rates to borrow money for capital investment. Secondly it can also use the increase of government spending in infrastructure projects to get new business.
Creating value in data economy
– The success of analytics program of Paradigm Outdated has opened avenues for new revenue streams for the organization in the industry. This can help Paradigm Outdated to build a more holistic ecosystem as suggested in the Beyond the 4Ps: A New Marketing Paradigm Emerges case study. Paradigm Outdated can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Paradigm Outdated is facing challenges because of the dominance of functional experts in the organization. Beyond the 4Ps: A New Marketing Paradigm Emerges case study suggests that firm can utilize new technology to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, 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, Paradigm Outdated can use these opportunities to build new business models that can help the communities that Paradigm Outdated operates in. Secondly it can use opportunities from government spending in Sales & Marketing sector.
Loyalty marketing
– Paradigm Outdated 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.
Threats Beyond the 4Ps: A New Marketing Paradigm Emerges External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Beyond the 4Ps: A New Marketing Paradigm Emerges are -
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. Paradigm Outdated 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.
Regulatory challenges
– Paradigm Outdated 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.
Increasing wage structure of Paradigm Outdated
– 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 Paradigm Outdated.
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 Paradigm Outdated business can come under increasing regulations regarding data privacy, data security, etc.
Technology acceleration in Forth Industrial Revolution
– Paradigm Outdated has witnessed rapid integration of technology during Covid-19 in the Sales & Marketing industry. As one of the leading players in the industry, Paradigm Outdated 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.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Paradigm Outdated 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.
Capital market disruption
– During the Covid-19, Dow Jones has touched record high. The valuations of a number of companies are way beyond their existing business model potential. This can lead to capital market correction which can put a number of suppliers, collaborators, value chain partners in great financial difficulty. It will directly impact the business of Paradigm Outdated.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Paradigm Outdated 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 Beyond the 4Ps: A New Marketing Paradigm Emerges .
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 Paradigm Outdated in the Sales & Marketing sector and impact the bottomline of the organization.
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. Paradigm Outdated needs to understand the core reasons impacting the Sales & Marketing industry. This will help it in building a better workplace.
Environmental challenges
– Paradigm Outdated 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. Paradigm Outdated can take advantage of this fund but it will also bring new competitors in the Sales & Marketing industry.
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. Paradigm Outdated can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Paradigm Outdated with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Weighted SWOT Analysis of Beyond the 4Ps: A New Marketing Paradigm Emerges 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 Beyond the 4Ps: A New Marketing Paradigm Emerges 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 Beyond the 4Ps: A New Marketing Paradigm Emerges 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 Beyond the 4Ps: A New Marketing Paradigm Emerges 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 Beyond the 4Ps: A New Marketing Paradigm Emerges 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 Paradigm Outdated needs to make to build a sustainable competitive advantage.
