Marketing Analysis for Acer Hi-Fi System Essay Example | Topics and Well Written Essays - 1000 words

merchandising Analysis for Acer Hi-Fi System - Essay ExampleAcer has been known for a languish time as electronic producing company especi all toldy computer harvests. Recently, the company has entered the music intersection application where its asserting is presence in the market by introducing unique and superior products in the market, hi-fi opened system being one of such products. To assert its presence in the music industry, Acer has embarked on market analysis mission for its hi-fi music system for business growth and increase in its market sh atomic number 18. 2.0 Situational Analysis/ Opportunity Identification Situational analysis and opportunity analysis involves a clear commentary of opportunities available to an organizations operating environment both internally and outdoor(a)ly and the challenges thereof (Stevens, Sherwood and Dunn, 1993, 7). This helps the managers to desexualise appropriate strategic decisions to tap into the opportunities and overcome the ch allenges present. 2.1 Market Analysis Given that Acer group of companies has a global presence, it has a market potential to market its Acer hi-fi system to over ccc million middle and upper income class who forms its target market. This market segment has a higher buying power and superior tastes for high quality products. In addition, this market segment comprises technology literate individuals who are quick to adopt and use the product. Buyer behaviour shows a strong peer influence and invoke for quality features. Acers market intelligence shows that majority of the target customers have had experience with other Acer products in the past a factor the company seeks to utilize to capture a intelligent market share. Initial sales figures show that the company has the potential to grow its market share in this market segment given the unique and superior quality of its product. 2.2 SWOT Analysis The analysis work involves a critical review of the strengths and weaknesses focusi ng on internal factors on one hand and opportunities and threats addressing the external factors (Cheverton, 2004, 84). Detailed SWOT analysis is presented in the table below Internal Factors Strengths Weaknesses Product offerings Capable of connecting to all of the devices on your home network and devices Unique sound quality and affordable Largely unknown compared to contention brands Somehow sophisticated to some customers Acer brand Known for its quality Producer of affordable goods not ranked among the top electronic companies Positioning problem Management Experienced in new product development and marketing strategies Understands the target markets purchase behaviour patterns Slow to react to changes in customer demand Organizational structural challenges Market Huge global market of over ccc mn customers Better product adoption among target customers Strong tastes and preferences fast changes in demand small(a) adoption rates in some markets Human Resources Skilled manpow er with strong product development, pecuniary and marketing skills High turnover Financial considerations Revenue estimates are good given the margin/product Low cost of production ROI very promising Rising cost of raw materials and energy R&D Competent R&D teams Rapid dynamism in the music industry working capital and time intensive External Factors Opportunities Threats Consumer market High purchasing power Technologically savvy Rapid changes in tastes and