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Summary

Marketing CREST Analysis ...

Description

C.R.E.S.T. Analysis All elements affect an organization’s performance, position in the marketplace and viability towards long term success Upon evaluation, adopt strategies that enhance market share, establish niches, and serve diverse segments Competitive

Regulatory

Competitors & Threats they Pose Alternative Products - Manufacturing processes - Ingredients - Environmental factors - Conservation issues / priorities

Legal & Political Analyze the various legal requirements necessary to operate - Lawfully - Minimize losses that may occur b/c of uninformed legal decisions - What governs production, trade, health, environment, mail, courier, crossing the border - International law and International Trade - Marketing laws

Economic 1. Internal factors 2. Operational factors 3. External Factors 1 &2 – are controllable facets of running a business – management can solve / address or manage them via equipment, org structure, financial management, technological capacity, employee morale. #3 is outside of Management’s Control, and is not easily fixable or addressable. External Issues include: - Lack of control over external factors - Competition - Legislation - Raw materials - Logistics and Services - Other factors of Production - Government - Politics - Collective Income - Expenditures Managers need information on economic issues especially those which affect spending habits of consumers, capital flows, supply of raw materials

Socio-Cultural A firm flourishes only to the extent to which it breaks down socio-cultural perspectives to influence consumers from diverse culture to buy its products. -

Preferences Morals, values, Beliefs Education Group dynamics Demographics Conservatism of the ECO system Environmental products, manufacturing, processes, packaging

Cultural Values - Ideas - Attitudes - Fashion - Trends - How social media is driving attitudes on appearance Meets customers needs and environmental

and other resources Monopoly Oligopoly Monopolistic competition Micro-macro economics

Technological & Environmental

Environmental forces which affect an organization’s activities Availability and adoption of existing and emerging technologies that enhance productivity, reduce costs, improve quality of products - Science - Technology - Engineering - Re-engineering -

concerns concurrently -...