Entifying your brand among Twitter-using millenials SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Communication
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Case Study SWOT Analysis Solution
Case Study Description of Entifying your brand among Twitter-using millenials
Members of the Millennial Generation ('millennials') are strongly attached to their smartphones and engrossed in social media. They frequently post pictures and tweet about the products they like and buy. Consequently, established consumer brands unable to master the use of Twitter and other social media are likely to lose their ability to communicate with this generation. This article reports findings from a study of millennials' Twitter usage and presents the concept of brand entification as the next evolutionary stage of brand personality made possible by this social media. Brand entification refers to a distinct emotional and cognitive attachment between heavy-Twitter-using millennials and the brands they like, and to a unique set of attributions they make toward the brand. Herein, we explain the nature of brand entification, describe how it emerges, and distill some key lessons for brand managers interested in reaching Twitter-using millennials.
Authors :: Hemant C Sashittal, Monica Hodis, Rajendran Sriramachandramurthy
Swot Analysis of "Entifying your brand among Twitter-using millenials" written by Hemant C Sashittal, Monica Hodis, Rajendran Sriramachandramurthy includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Entification Twitter facing as an external strategic factors. Some of the topics covered in Entifying your brand among Twitter-using millenials case study are - Strategic Management Strategies, Communication, Customers, Social platforms and Communication.
Some of the macro environment factors that can be used to understand the Entifying your brand among Twitter-using millenials casestudy better are - – talent flight as more people leaving formal jobs, increasing government debt because of Covid-19 spendings, increasing energy prices, cloud computing is disrupting traditional business models, increasing commodity prices, wage bills are increasing, there is backlash against globalization,
banking and financial system is disrupted by Bitcoin and other crypto currencies, there is increasing trade war between United States & China, etc
Introduction to SWOT Analysis of Entifying your brand among Twitter-using millenials
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Entifying your brand among Twitter-using millenials case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Entification Twitter, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Entification Twitter 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 Entifying your brand among Twitter-using millenials can be done for the following purposes –
1. Strategic planning using facts provided in Entifying your brand among Twitter-using millenials case study
2. Improving business portfolio management of Entification Twitter
3. Assessing feasibility of the new initiative in Communication field.
4. Making a Communication topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Entification Twitter
Strengths Entifying your brand among Twitter-using millenials | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Entification Twitter in Entifying your brand among Twitter-using millenials Harvard Business Review case study are -
Sustainable margins compare to other players in Communication industry
– Entifying your brand among Twitter-using millenials firm has clearly differentiated products in the market place. This has enabled Entification Twitter to fetch slight price premium compare to the competitors in the Communication industry. The sustainable margins have also helped Entification Twitter to invest into research and development (R&D) and innovation.
High brand equity
– Entification Twitter has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Entification Twitter to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Training and development
– Entification Twitter has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Entifying your brand among Twitter-using millenials 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.
Innovation driven organization
– Entification Twitter is one of the most innovative firm in sector. Manager in Entifying your brand among Twitter-using millenials Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Cross disciplinary teams
– Horizontal connected teams at the Entification Twitter are driving operational speed, building greater agility, and keeping the organization nimble to compete with new competitors. It helps are organization to ideate new ideas, and execute them swiftly in the marketplace.
Diverse revenue streams
– Entification Twitter is present in almost all the verticals within the industry. This has provided firm in Entifying your brand among Twitter-using millenials 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.
Ability to recruit top talent
– Entification Twitter is one of the leading recruiters in the industry. Managers in the Entifying your brand among Twitter-using millenials are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
High switching costs
– The high switching costs that Entification Twitter 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.
Highly skilled collaborators
– Entification Twitter 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 Entifying your brand among Twitter-using millenials HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Digital Transformation in Communication segment
- digital transformation varies from industry to industry. For Entification Twitter digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Entification Twitter 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.
Analytics focus
– Entification Twitter 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 Hemant C Sashittal, Monica Hodis, Rajendran Sriramachandramurthy 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.
Organizational Resilience of Entification Twitter
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Entification Twitter does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Weaknesses Entifying your brand among Twitter-using millenials | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Entifying your brand among Twitter-using millenials are -
Skills based hiring
– The stress on hiring functional specialists at Entification Twitter has created an environment where the organization is dominated by functional specialists rather than management generalist. This has resulted into product oriented approach rather than marketing oriented approach or consumers oriented approach.
No frontier risks strategy
– After analyzing the HBR case study Entifying your brand among Twitter-using millenials, it seems that company is thinking about the frontier risks that can impact Communication 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.
Interest costs
– Compare to the competition, Entification Twitter has borrowed money from the capital market at higher rates. It needs to restructure the interest payment and costs so that it can compete better and improve profitability.
Slow decision making process
– As mentioned earlier in the report, Entification Twitter 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. Entification Twitter 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.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Entifying your brand among Twitter-using millenials, is just above the industry average. Entification Twitter 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.
Lack of clear differentiation of Entification Twitter products
– To increase the profitability and margins on the products, Entification Twitter needs to provide more differentiated products than what it is currently offering in the marketplace.
Workers concerns about automation
– As automation is fast increasing in the segment, Entification Twitter 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.
Need for greater diversity
– Entification Twitter 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.
Products dominated business model
– Even though Entification Twitter has some of the most successful products in the industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. firm in the HBR case study - Entifying your brand among Twitter-using millenials should strive to include more intangible value offerings along with its core products and services.
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 Entification Twitter supply chain. Even after few cautionary changes mentioned in the HBR case study - Entifying your brand among Twitter-using millenials, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Entification Twitter vulnerable to further global disruptions in South East Asia.
Capital Spending Reduction
– Even during the low interest decade, Entification Twitter 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.
Opportunities Entifying your brand among Twitter-using millenials | 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 Entifying your brand among Twitter-using millenials are -
Better consumer reach
– The expansion of the 5G network will help Entification Twitter to increase its market reach. Entification Twitter 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.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Entification Twitter 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, Entifying your brand among Twitter-using millenials, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Building a culture of innovation
– managers at Entification Twitter 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 Communication segment.
Developing new processes and practices
– Entification Twitter can develop new processes and procedures in Communication 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.
Manufacturing automation
– Entification Twitter can use the latest technology developments to improve its manufacturing and designing process in Communication 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.
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. Entification Twitter can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Entification Twitter 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 Entification Twitter to hire the very best people irrespective of their geographical location.
Using analytics as competitive advantage
– Entification Twitter has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in the sector. This continuous investment in analytics has enabled, as illustrated in the Harvard case study Entifying your brand among Twitter-using millenials - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Entification Twitter to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Learning at scale
– Online learning technologies has now opened space for Entification Twitter 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.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Communication industry, but it has also influenced the consumer preferences. Entification Twitter 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
– Entification Twitter can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Entifying your brand among Twitter-using millenials 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.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Communication industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Entification Twitter 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. Entification Twitter 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.
Creating value in data economy
– The success of analytics program of Entification Twitter has opened avenues for new revenue streams for the organization in the industry. This can help Entification Twitter to build a more holistic ecosystem as suggested in the Entifying your brand among Twitter-using millenials case study. Entification Twitter can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Threats Entifying your brand among Twitter-using millenials External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Entifying your brand among Twitter-using millenials are -
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Entification Twitter in the Communication industry. The Communication 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.
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 Entification Twitter business can come under increasing regulations regarding data privacy, data security, etc.
Technology acceleration in Forth Industrial Revolution
– Entification Twitter has witnessed rapid integration of technology during Covid-19 in the Communication industry. As one of the leading players in the industry, Entification Twitter needs to keep up with the evolution of technology in the Communication 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.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Entification Twitter 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 Entifying your brand among Twitter-using millenials .
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Entifying your brand among Twitter-using millenials, Entification Twitter may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Communication .
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Entification Twitter 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 Entification Twitter is facing in Communication sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Regulatory challenges
– Entification Twitter 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 Communication industry regulations.
Stagnating economy with rate increase
– Entification Twitter can face lack of demand in the market place because of Fed actions to reduce inflation. This can lead to sluggish growth in the economy, lower demands, lower investments, higher borrowing costs, and consolidation in the field.
Increasing wage structure of Entification Twitter
– 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 Entification Twitter.
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. Entification Twitter needs to understand the core reasons impacting the Communication industry. This will help it in building a better workplace.
Easy access to finance
– Easy access to finance in Communication field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Entification Twitter can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
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 Entifying your brand among Twitter-using millenials 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 Entifying your brand among Twitter-using millenials 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 Entifying your brand among Twitter-using millenials 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 Entifying your brand among Twitter-using millenials 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 Entifying your brand among Twitter-using millenials 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 Entification Twitter needs to make to build a sustainable competitive advantage.
