Please use Nike Company for this assignment. Minimum of 750 words covering the areas highlighted below.
In order to develop effective strategies, it is critical to understand the marketplace environment. In this assignment, you will explore the relationship between marketplace positioning based on environmental factors.
There are many elements that can go into an environmental scan, and your analysis will depend on the nature of your business unit, product portfolio, target market, and other factors related to the scope of your business.
Your environmental scan should include all of the following elements:
Technological factors and trends
Geographic factors and trends
Porter's five forces that consists of the following aspects:
- Threat of new competition
- Threat of substitute products or services
- Bargaining power of customers (buyers)
- Bargaining power of suppliers
- Intensity of competitive/industry rivalry
Although your analysis will be tailored to your specific business, be sure to cover the following:
- A thorough five forces analysis of your industry
- The key factors and trends in any other areas affecting your industry
- A preliminary classification of the external factors and trends as either opportunities or threats which will be the inputs for the final SWOT analysis.