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 - – increasing government debt because of Covid-19 spendings, 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, increasing commodity prices, competitive advantages are harder to sustain because of technology dispersion, cloud computing is disrupting traditional business models, technology disruption,
increasing inequality as vast percentage of new income is going to the top 1%, wage bills are increasing, 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 -
Operational resilience
– The operational resilience strategy in the www.dhonuk.com - Marketing Art in an Emerging Market 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.
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.
Innovation driven organization
– Art Www.dhonuk.com is one of the most innovative firm in sector. Manager in www.dhonuk.com - Marketing Art in an Emerging Market Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
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.
Ability to lead change in Sales & Marketing field
– Art Www.dhonuk.com 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 Art Www.dhonuk.com in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Training and development
– Art Www.dhonuk.com has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in www.dhonuk.com - Marketing Art in an Emerging Market 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
– Art Www.dhonuk.com is present in almost all the verticals within the industry. This has provided firm in www.dhonuk.com - Marketing Art in an Emerging Market 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
– 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.
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.
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.
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.
Ability to recruit top talent
– Art Www.dhonuk.com is one of the leading recruiters in the industry. Managers in the www.dhonuk.com - Marketing Art in an Emerging Market are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
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.
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.
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.
Lack of clear differentiation of Art Www.dhonuk.com products
– To increase the profitability and margins on the products, Art Www.dhonuk.com needs to provide more differentiated products than what it is currently offering in the marketplace.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study www.dhonuk.com - Marketing Art in an Emerging Market, is just above the industry average. Art Www.dhonuk.com 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.
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 Art Www.dhonuk.com supply chain. Even after few cautionary changes mentioned in the HBR case study - www.dhonuk.com - Marketing Art in an Emerging Market, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Art Www.dhonuk.com vulnerable to further global disruptions in South East Asia.
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.
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.
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.
Aligning sales with marketing
– It come across in the case study www.dhonuk.com - Marketing Art in an Emerging Market 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 www.dhonuk.com - Marketing Art in an Emerging Market can leverage the sales team experience to cultivate customer relationships as Art Www.dhonuk.com is planning to shift buying processes online.
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 -
Manufacturing automation
– Art Www.dhonuk.com 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.
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.
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.
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.
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.
Better consumer reach
– The expansion of the 5G network will help Art Www.dhonuk.com to increase its market reach. Art Www.dhonuk.com 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 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.
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.
Buying journey improvements
– Art Www.dhonuk.com can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. www.dhonuk.com - Marketing Art in an Emerging Market 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.
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.
Building a culture of innovation
– managers at Art Www.dhonuk.com 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.
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 -
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.
Environmental challenges
– Art Www.dhonuk.com 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. Art Www.dhonuk.com can take advantage of this fund but it will also bring new competitors in the Sales & Marketing industry.
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.
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.
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.
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 Art Www.dhonuk.com business can come under increasing regulations regarding data privacy, data security, 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. 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.
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.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study www.dhonuk.com - Marketing Art in an Emerging Market, Art Www.dhonuk.com may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Sales & Marketing .
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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Art Www.dhonuk.com 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 www.dhonuk.com - Marketing Art in an Emerging 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.
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.
