Business Studies Case and SWOT Analysis for Mistine - 1100 Words

Business Studies: Case and SWOT Analysis for Mistine (Case Study Sample) Content: Mistine-A Case StudyNameInstitution Question 1The following is a comprehensive SWOT analysis for MistineStrengthsAn experienced production teamEffective marketing strategiesProducts of high quality which blend with the Asian skin as well as the climatic conditions of the region.A reputation of a stable and prosperous companyOrganizational efficiencyPricing strategies that match the income levels of its target marketNon-monetary rewards and incentives which motivate the staffMarket share leaderDissatisfaction money back guaranteeCertification and AwardsAppealing packagingWeaknessesMisperceptions of the low costs of its products as equating to low qualityHigh sales force turnoverOver dependence on direct sellingHigh marketing and advertising costsLoss of its founder who was an influential company leaderOpportunitiesPotential to expand to western countries Solid advertising alliances Increased expansion in the global marketNew product lines for different age groups and genderAbility to buy out small competitorsClear and articulated value proposition that would make it easy to acquire and retain customersPersonalized service deliveryUse of technology to streamline the entire business operationsImproved direct selling and advertising operationsThreatsFocusing too narrowly on Asian women alienates other markets and demographics as potential customersInability to keep up with technological advancementsStiff competitionQuestion 2VALs is one of the primary ways to perform psychographic segmentation, and it reflects a pattern that explains the relationship between consumers' behavior and their personality traits. In other words, this mode of market segregation uses Psychology to analyze the motivations and biases that influence consumer preferences and choices. Hence, considering Mistine's attempt to continue its growth and dominance in the Thai market, the specific VALS consumer profiles which coincide with Mistine's product development, promotion, and positioning strategies are Thinkers, Believers, Achievers, and Experiencers.As an illustration, the company has specialized products that target the thinkers' segment of the market. For example, the company has quality products that target professional women who earn between $200 and $300 (U.S.) per month. Such kind of professionals make up a market category that has huge resources, are well informed and whose purchasing behavior is likely to be influenced by their knowledge and information about the worthiness of the product.In the same manner, Mistine's marketing strategy is an effective tool to convince the believers segment about its products. For instance, direct selling through the sales force helps in persuading and influencing the consumers who are more social in nature, and who are easily influenced by what is going on around them. Also, selling by word of mouth is a simple, efficient marketing model that is suitable to the Thai culture and lifestyle.Moreover, the corporat e has remained a top-notch mover in the direct selling market by launching advertising campaigns which feature famous actresses, actors, and other leaders in the entertainment industry. Such achievers match with Mistine's personality of a leading brand. Consequently, advertisements that feature well-known personalities have managed to attract the achievers category of the market who want to be associated with a successful brand.Lastly, the brand targets the experiencers through the use of marketing campaigns that stimulate product trial among the adventurous and outgoing members of the society. Such adverts are successful in influencing the consumers to switch from using the competitors products and start purchasing Mistines products. Likewise, the brand has reinforced this product- trial kind of consumer behavior by providing a guarantee of refunding the customer's money in case of dissatisfaction with the product.Psychographic segmentation using VAL's customer profiling can be a useful tool for enhancing Mistine's competitive advantage as well as its brand positioning. In this case, understanding that customers personalities, interests, and opinions shape their buying behavior would help the company to make decisions that align with the customers values and needs. Secondly, this kind of segmentation can also help the organization to identify and tap into the psychological aspects of the clients, and to leverage this knowledge by connecting with the customers at a deep emotional level. Correspondingly, knowing which psychological traits are associated with each buyer would give the company's sales force the ability to push the company's products while at the same time, establish intimate and lasting bonds with the customers. Besides, while armed with the buyers information such as values, tendencies, and biases, the company would be able to make well-honed adverts and campaigns that augur well with the emotional state of the buyers. Lastly, VAL's way of psy chographic segmentation would put Mistine at a competitive edge by placing it at the mindset of the existing and prospective customers. Question 3It is important for Mistine to do more than just pushing its products through direct selling. In the next five years, the organization needs to have had a solid marketing plan that will demonstrate how it will identify new markets, reach the customers in the targeted markets and retain them. This marketing plan will be the roadmap to which will determine the s...