Measuring The Success Of A Company - 1344 Words

Measuring the success of a company can be a grueling process if not done correctly. Taking a closer look at the strengths, weaknesses, opportunities, threats (SWOT Analysis), the price, product, place, promotion (The Four P’s), the microenvironment and the demographics can give the company a deeper view of how well they are performing. Each analysis supplies adequate information for the company to make modifications to better serve their target market. A firm addressing the strengths and weaknesses of their company should first analyze the internal operations, focusing on aspects such as, â€Å"marketing, financial, manufacturing, and organizational competencies† (Kotler 73). They need to decide if their marketing strategies are working, and one example of how to do this is by having a â€Å"how did you hear about us† section on a survey at the restaurant or hotel. This lets the company know how customers are hearing about them and decide whether or not to continue with their current marketing strategies. The marketing goal the company may want to consider is differentiating their products to meet more customer needs. Apple does an incredible job of this because they have a wide variety of products and excel in all of them. Instead of simply selling desktop computers, they decided to make laptops, cellphones, headphones, watches, and television pairing devices. On the other hand, a firm addressing their opportunities and threats needs to first look at the micro and macroShow MoreRelatedMeasuring success in Information Systems Essay925 Words   |  4 PagesAnd when it comes to spending money in IS and IT, it does not get too different. Companies ask themselves â€Å"Was the money spent in the implementation of the new IS worthy?† or in doubt if the benefits are equal or better than the money invested (Should I change my IS system? How can I know if the IS department is helping my company to improve its business or not?). For these and many other reasons, measuring the success or failure of IS not just in a financial perspective, but also considering technicalRead MoreSummary On The Online Video Shopping Market993 Words   |  4 Pagesfounding Joyus. The company s that she worked for helped pave the way for her career. The success of Cassidy s company was due to the fact that her company website would provide video examples of each product marketing them, and showing the item in use. The company had great relationships with well known brand names, and this was due to the video marketing. Cassidy s reason for success, is now her downfall as well. Since the video marketing was such a success, larger companies have begun imitatingRead MoreLinkedin. Com : Website Analysis772 Words   |  4 PagesLinkedIn.com has quickly become one of the primary sources for identifying passive candidates. 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