www.dhonuk.com - Marketing Art in an Emerging Market SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Sales & Marketing
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of www.dhonuk.com - Marketing Art in an Emerging Market
India as an emerging market offers tremendous opportunities to marketers. The marketing scenario is an upbeat one both for mundane products as well as luxury offerings. Marketing art was an unexplored area. www.dhonuk.com was an entrepreneurial company that was making an attempt to market art. This case study is about the attempt by the company to study the behaviour of the consumers interested in art. The case study delves into the nuances of segmentation and psychographics with information on the involvement levels of consumers. The challenge for www.dhonuk.com was to use consumer insights to formulate marketing strategies that would enable the company to target various segments and decide how these segments could be differentiated. Some of the interesting questions that the case reflects are (1) Would capturing the perception of consumers about art forms work? (2) What about their level of involvement in art forms? (3) Were art forms something that consumers used to reflect their personality? (4) Were consumers associated with art different from other consumers in terms of their lifestyle? The case has a blend of several aspects of consumer behaviour that will be useful to formulate a strategy for this unusual category in the Indian marketing context. The case can be used to illustrate how the various aspects of consumer behaviour can contribute to marketing strategy of a firm, especially with regard to a category that has not diffused widely among the consumers. The case also illustrates how consumer behaviour concepts can be combined to obtain consumer insights in a given scenario. The outcome of the case is reflected in how marketing mix elements can be formulated using behavioural concepts. This angle is different from formulating marketing mix using competitive data without the information on behavioural dimensions.
Swot Analysis of "www.dhonuk.com - Marketing Art in an Emerging Market" written by S. Ramesh Kumar, Shamit Bagchi includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Art Www.dhonuk.com facing as an external strategic factors. Some of the topics covered in www.dhonuk.com - Marketing Art in an Emerging Market case study are - Strategic Management Strategies, Emerging markets and Sales & Marketing.
Some of the macro environment factors that can be used to understand the www.dhonuk.com - Marketing Art in an Emerging Market casestudy better are - – there is increasing trade war between United States & China, central banks are concerned over increasing inflation, supply chains are disrupted by pandemic , technology disruption, customer relationship management is fast transforming because of increasing concerns over data privacy, increasing energy prices, increasing commodity prices,
increasing household debt because of falling income levels, increasing inequality as vast percentage of new income is going to the top 1%, etc
Introduction to SWOT Analysis of www.dhonuk.com - Marketing Art in an Emerging Market
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in www.dhonuk.com - Marketing Art in an Emerging Market case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Art Www.dhonuk.com, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Art Www.dhonuk.com 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 www.dhonuk.com - Marketing Art in an Emerging Market can be done for the following purposes –
1. Strategic planning using facts provided in www.dhonuk.com - Marketing Art in an Emerging Market case study
2. Improving business portfolio management of Art Www.dhonuk.com
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 Art Www.dhonuk.com
Strengths www.dhonuk.com - Marketing Art in an Emerging Market | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Art Www.dhonuk.com in www.dhonuk.com - Marketing Art in an Emerging Market Harvard Business Review case study are -
High switching costs
– The high switching costs that Art Www.dhonuk.com 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.
Analytics focus
– Art Www.dhonuk.com 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 S. Ramesh Kumar, Shamit Bagchi 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.
Digital Transformation in Sales & Marketing segment
- digital transformation varies from industry to industry. For Art Www.dhonuk.com digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Art Www.dhonuk.com 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
- Art Www.dhonuk.com 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 Art Www.dhonuk.com is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in www.dhonuk.com - Marketing Art in an Emerging Market Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Highly skilled collaborators
– Art Www.dhonuk.com 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 www.dhonuk.com - Marketing Art in an Emerging Market HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Organizational Resilience of Art Www.dhonuk.com
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Art Www.dhonuk.com does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Successful track record of launching new products
– Art Www.dhonuk.com has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Art Www.dhonuk.com 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.
Sustainable margins compare to other players in Sales & Marketing industry
– www.dhonuk.com - Marketing Art in an Emerging Market firm has clearly differentiated products in the market place. This has enabled Art Www.dhonuk.com to fetch slight price premium compare to the competitors in the Sales & Marketing industry. The sustainable margins have also helped Art Www.dhonuk.com to invest into research and development (R&D) and innovation.
Effective Research and Development (R&D)
– Art Www.dhonuk.com 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 www.dhonuk.com - Marketing Art in an Emerging Market - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Low bargaining power of suppliers
– Suppliers of Art Www.dhonuk.com in the sector have low bargaining power. www.dhonuk.com - Marketing Art in an Emerging Market has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Art Www.dhonuk.com to manage not only supply disruptions but also source products at highly competitive prices.
Strong track record of project management
– Art Www.dhonuk.com is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Superior customer experience
– The customer experience strategy of Art Www.dhonuk.com in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Weaknesses www.dhonuk.com - Marketing Art in an Emerging Market | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of www.dhonuk.com - Marketing Art in an Emerging Market are -
High dependence on star products
– The top 2 products and services of the firm as mentioned in the www.dhonuk.com - Marketing Art in an Emerging Market 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 Art Www.dhonuk.com has relatively successful track record of launching new products.
Increasing silos among functional specialists
– The organizational structure of Art Www.dhonuk.com is dominated by functional specialists. It is not different from other players in the Sales & Marketing segment. Art Www.dhonuk.com needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Art Www.dhonuk.com to focus more on services rather than just following the product oriented approach.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study www.dhonuk.com - Marketing Art in an Emerging Market, in the dynamic environment Art Www.dhonuk.com has struggled to respond to the nimble upstart competition. Art Www.dhonuk.com has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Low market penetration in new markets
– Outside its home market of Art Www.dhonuk.com, firm in the HBR case study www.dhonuk.com - Marketing Art in an Emerging Market needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
High cash cycle compare to competitors
Art Www.dhonuk.com 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.
Workers concerns about automation
– As automation is fast increasing in the segment, Art Www.dhonuk.com 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.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Art Www.dhonuk.com is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study www.dhonuk.com - Marketing Art in an Emerging Market can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Slow decision making process
– As mentioned earlier in the report, Art Www.dhonuk.com has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the industry over the last five years. Art Www.dhonuk.com even though has strong showing on digital transformation primary two stages, it has struggled to capitalize the power of digital transformation in marketing efforts and new venture efforts.
No frontier risks strategy
– After analyzing the HBR case study www.dhonuk.com - Marketing Art in an Emerging Market, 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.
Need for greater diversity
– Art Www.dhonuk.com 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 operating costs
– Compare to the competitors, firm in the HBR case study www.dhonuk.com - Marketing Art in an Emerging Market 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 Art Www.dhonuk.com 's lucrative customers.
Opportunities www.dhonuk.com - Marketing Art in an Emerging Market | 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 www.dhonuk.com - Marketing Art in an Emerging Market are -
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Art Www.dhonuk.com 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 Art Www.dhonuk.com to hire the very best people irrespective of their geographical location.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Art Www.dhonuk.com is facing challenges because of the dominance of functional experts in the organization. www.dhonuk.com - Marketing Art in an Emerging Market 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.
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 Art Www.dhonuk.com 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.
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. Art Www.dhonuk.com 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. Art Www.dhonuk.com 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.
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. Art Www.dhonuk.com can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Leveraging digital technologies
– Art Www.dhonuk.com 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.
Developing new processes and practices
– Art Www.dhonuk.com 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.
Learning at scale
– Online learning technologies has now opened space for Art Www.dhonuk.com 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Art Www.dhonuk.com can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Art Www.dhonuk.com 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.
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. Art Www.dhonuk.com can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Low interest rates
– Even though inflation is raising its head in most developed economies, Art Www.dhonuk.com 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.
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 Art Www.dhonuk.com in the consumer business. Now Art Www.dhonuk.com can target international markets with far fewer capital restrictions requirements than the existing system.
Threats www.dhonuk.com - Marketing Art in an Emerging Market External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study www.dhonuk.com - Marketing Art in an Emerging Market are -
Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.
Consumer confidence and its impact on Art Www.dhonuk.com 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
– Art Www.dhonuk.com 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.
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 Art Www.dhonuk.com 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. Art Www.dhonuk.com needs to understand the core reasons impacting the Sales & Marketing industry. This will help it in building a better workplace.
Technology acceleration in Forth Industrial Revolution
– Art Www.dhonuk.com has witnessed rapid integration of technology during Covid-19 in the Sales & Marketing industry. As one of the leading players in the industry, Art Www.dhonuk.com 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.
High dependence on third party suppliers
– Art Www.dhonuk.com 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 Art Www.dhonuk.com with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
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 Art Www.dhonuk.com.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Art Www.dhonuk.com 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. Art Www.dhonuk.com 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.
Shortening product life cycle
– it is one of the major threat that Art Www.dhonuk.com is facing in Sales & Marketing sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, 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.
Weighted SWOT Analysis of www.dhonuk.com - Marketing Art in an Emerging Market 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 www.dhonuk.com - Marketing Art in an Emerging Market 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 www.dhonuk.com - Marketing Art in an Emerging Market 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 www.dhonuk.com - Marketing Art in an Emerging Market 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 www.dhonuk.com - Marketing Art in an Emerging Market 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 Art Www.dhonuk.com needs to make to build a sustainable competitive advantage.