From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

Case Study SWOT Analysis Solution

Case Study Description of From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling

Recent trends in advertising and social media (e.g., facial/body recognition technologies) will change how people need to think about their digital representations and privacy, as well as how managers can use these technologies to interact with customers. The term avatar is usually associated with a video game character or a pictorial representation on a social network, and among other components of the definition of the concept is the notion that users control the avatar's appearance and actions. Facial recognition and video analytic technologies being applied in public digital signage displays and on social networks like Facebook capture and create an embodied biometric database that is essentially an avatar-like profile that will be used for marketing products and supporting consumer applications. In this article we discuss the nature of these new marketing avatars, which we call mavatars, and offer a framework for understanding where and how these embodied profiles are and will be used. We also discuss and speculate how these representations and the applications they spawn will evolve; where they will be used; and the ramifications of these embodied representations for consumers, managers, and society at large.

Authors :: Brian E. Mennecke, Anicia Peters

Topics :: Leadership & Managing People

Tags :: Security & privacy, SWOT Analysis, SWOT Matrix, TOWS, Weighted SWOT Analysis

Swot Analysis of "From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling" written by Brian E. Mennecke, Anicia Peters includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Embodied Representations facing as an external strategic factors. Some of the topics covered in From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling case study are - Strategic Management Strategies, Security & privacy and Leadership & Managing People.

Some of the macro environment factors that can be used to understand the From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling casestudy better are - – cloud computing is disrupting traditional business models, increasing inequality as vast percentage of new income is going to the top 1%, geopolitical disruptions, customer relationship management is fast transforming because of increasing concerns over data privacy, talent flight as more people leaving formal jobs, competitive advantages are harder to sustain because of technology dispersion, technology disruption, increasing commodity prices, challanges to central banks by blockchain based private currencies, etc

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Introduction to SWOT Analysis of From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling

SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Embodied Representations, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Embodied Representations 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.

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SWOT Objectives / Importance of SWOT Analysis and SWOT Matrix

SWOT analysis of From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling can be done for the following purposes –
1. Strategic planning using facts provided in From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling case study
2. Improving business portfolio management of Embodied Representations
3. Assessing feasibility of the new initiative in Leadership & Managing People field.
4. Making a Leadership & Managing People topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Embodied Representations

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Strengths From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The strengths of Embodied Representations in From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling Harvard Business Review case study are -

Operational resilience

– The operational resilience strategy in the From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling 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.

Cross disciplinary teams

– Horizontal connected teams at the Embodied Representations 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.

Low bargaining power of suppliers

– Suppliers of Embodied Representations in the sector have low bargaining power. From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Embodied Representations to manage not only supply disruptions but also source products at highly competitive prices.

Organizational Resilience of Embodied Representations

– The covid-19 pandemic has put organizational resilience at the centre of everthing that Embodied Representations does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.

Learning organization

- Embodied Representations 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 Embodied Representations is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling Harvard Business Review case study emphasize – knowledge, initiative, and innovation.

Ability to lead change in Leadership & Managing People field

– Embodied Representations 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 Embodied Representations in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.

Innovation driven organization

– Embodied Representations is one of the most innovative firm in sector. Manager in From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.

Highly skilled collaborators

– Embodied Representations 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 From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling 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 Embodied Representations 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

– Embodied Representations 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 Brian E. Mennecke, Anicia Peters 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.

Superior customer experience

– The customer experience strategy of Embodied Representations in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.

Ability to recruit top talent

– Embodied Representations is one of the leading recruiters in the industry. Managers in the From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.

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Weaknesses From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The weaknesses of From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling are -

Slow to harness new channels of communication

– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Embodied Representations is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling 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, Embodied Representations 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. Embodied Representations 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.

Skills based hiring

– The stress on hiring functional specialists at Embodied Representations 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.

Employees’ incomplete understanding of strategy

– From the instances in the HBR case study From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling, it seems that the employees of Embodied Representations don’t have comprehensive understanding of the firm’s strategy. This is reflected in number of promotional campaigns over the last few years that had mixed messaging and competing priorities. Some of the strategic activities and services promoted in the promotional campaigns were not consistent with the organization’s strategy.

Ability to respond to the competition

– As the decision making is very deliberative, highlighted in the case study From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling, in the dynamic environment Embodied Representations has struggled to respond to the nimble upstart competition. Embodied Representations has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.

Compensation and incentives

– The revenue per employee as mentioned in the HBR case study From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling, is just above the industry average. Embodied Representations 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.

No frontier risks strategy

– After analyzing the HBR case study From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling, it seems that company is thinking about the frontier risks that can impact Leadership & Managing People 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

– Embodied Representations 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.

Interest costs

– Compare to the competition, Embodied Representations 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.

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 Embodied Representations supply chain. Even after few cautionary changes mentioned in the HBR case study - From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Embodied Representations vulnerable to further global disruptions in South East Asia.

Workers concerns about automation

– As automation is fast increasing in the segment, Embodied Representations 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.

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Opportunities From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling | 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 From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling are -

Loyalty marketing

– Embodied Representations 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.

Buying journey improvements

– Embodied Representations can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling 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.

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. Embodied Representations can explore opportunities that can attract volunteers and are consistent with its mission and vision.

Learning at scale

– Online learning technologies has now opened space for Embodied Representations 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.

Redefining models of collaboration and team work

– As explained in the weaknesses section, Embodied Representations is facing challenges because of the dominance of functional experts in the organization. From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling 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.

Finding new ways to collaborate

– Covid-19 has not only transformed business models of companies in Leadership & Managing People industry, but it has also influenced the consumer preferences. Embodied Representations can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.

Creating value in data economy

– The success of analytics program of Embodied Representations has opened avenues for new revenue streams for the organization in the industry. This can help Embodied Representations to build a more holistic ecosystem as suggested in the From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling case study. Embodied Representations can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.

Low interest rates

– Even though inflation is raising its head in most developed economies, Embodied Representations 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.

Remote work and new talent hiring opportunities

– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Embodied Representations 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 Embodied Representations to hire the very best people irrespective of their geographical location.

Leveraging digital technologies

– Embodied Representations 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.

Using analytics as competitive advantage

– Embodied Representations 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 From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Embodied Representations to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.

Building a culture of innovation

– managers at Embodied Representations 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 Leadership & Managing People segment.

Harnessing reconfiguration of the global supply chains

– As the trade war between US and China heats up in the coming years, Embodied Representations 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, From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.

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Threats From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The threats mentioned in the HBR case study From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling 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 Embodied Representations in the Leadership & Managing People sector and impact the bottomline of the organization.

Barriers of entry lowering

– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Embodied Representations 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 Embodied Representations.

Easy access to finance

– Easy access to finance in Leadership & Managing People field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Embodied Representations can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.

Technology acceleration in Forth Industrial Revolution

– Embodied Representations has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Embodied Representations needs to keep up with the evolution of technology in the Leadership & Managing People 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.

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. Embodied Representations 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.

High dependence on third party suppliers

– Embodied Representations 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.

Learning curve for new practices

– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling, Embodied Representations may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Leadership & Managing People .

Increasing international competition and downward pressure on margins

– Apart from technology driven competitive advantage dilution, Embodied Representations 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 From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling .

Shortening product life cycle

– it is one of the major threat that Embodied Representations is facing in Leadership & Managing People sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.

Increasing wage structure of Embodied Representations

– 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 Embodied Representations.

Trade war between China and United States

– The trade war between two of the biggest economies can hugely impact the opportunities for Embodied Representations in the Leadership & Managing People industry. The Leadership & Managing People 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.

Regulatory challenges

– Embodied Representations 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 Leadership & Managing People industry regulations.

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Weighted SWOT Analysis of From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling 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 From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling 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 From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling 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 From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling 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 From Avatars To Mavatars: The Role Of Marketing Avatars and Embodied Representations In Consumer Profiling 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 Embodied Representations needs to make to build a sustainable competitive advantage.

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