MKT525 Digital Marketing Research And Audit - Assignment Solution

Introduction 

With the increasing competition in every industry almost every business is using digital marketing strategies to stay ahead of their competitors and gain bigger market share. Different approaches and strategies are usually adapt by companies based on their size and nature of business they are in. Dove is one of the most influential brands when it comes to beauty products, their campaigns has always been in the limelight. For marketing managers it is important to analyse their company SWOT and PESTEL analysis so that based on it, proper marketing campaigns can be done. 

SWOT Analysis  

For any company or business regardless of their size and nature of industry they are operating in, it is always a good idea to do proper SWOT analysis to see where they stand and what they can do to gain competitive edge over others. SWOT analysis comprises of Strengths, Weaknesses, Opportunities and Threats. A complete and detailed SWOT analysis is done on DOVE to see what threats they face and what they can do to avail the opportunities that are present in the market. 

STRENGTHS 

A brand like DOVE has too many strength’s as its part of Unilever. Some of the key strengths are: 

Dove has ventured in to various businesses outside its normal Sales and Marketing sector that give the brand a diverse revenue model. With its marketing campaigns the brand is also able to create strong brand recognition in the industry. Another strength of the brand is the fact that DOVE is available in different countries around the world. With its strong dealer network, it helps the brand in managing its competitive challenge in sales and marketing (Deighton. J, 2018).

Because of its low cost structure, the company is able to sell its products comparatively at low price, making it affordable for general public at large. At the same time the financial position of the company is very strong, as it’s been making profits for last 5 consecutive years (Panagiotou. G, 2003). Lastly, with over millions of followers on its social media channels, making it one of the most highly visible brand in the world. 

WEAKNESS

The company hasn’t been making a lot of investment in conducting market research, as such most of its decisions are made on the old data that it has. Another issue that the company face is the high turnover rate of its employees, resulting in high costs for training new employees and recruiting them. One major weakness with the company is its low level of current assets as compare to current liabilities that can create liability issue for the company. 

OPPORTUNITIES

For a company like Dove there are many opportunities that are available, with new trends taking place in the consumer behaviour, Dove can exploit new markets that can help the company build different revenue streams. Doing so, it will eventually help the business to gain competitive edge by not only having more diverse revenue streams but also to have presence in more markets. 

Online presence and operations is another major area where the company can avail that as major opportunity, as a lot of its products can be sold online through different channels.

THREATS

Technology is one of those sectors where any company regardless of its size can face major threat from its competitors. Other companies capitalising on new technologies are likely to pose threat on Dove. Besides the technology, with growing number of new entrants in the market are is also a threat for Dove as those companies are coming up with new concepts in beauty creams and similar product range (Deighton. J, 2018). Such increase in new brands and companies, also help suppliers to have more bargaining power that can pose a major threat for the brand.