Question

Template for Assignment (1) Select an organization you are familiar with, then fill the following table: Vision: Mission: 2020 Objectives: PEST Analysis Environmental Situation: Opportunity or Your Organization's Factors Threat Strengths and Weaknesses (Analysis on resources and capabilities) Political Legal Socio-cultural Economic Technological Strategies: SO (e.g, S1 and 02) WO ST WT

Please explain my question with the following templates.

Answer 1

Introduction-

Lakme is the organization i selected for stating its mission, vision, objectives, and its strategies- It is one of the well established Indian cosmetic brand owned and managed by Hindustan Unilever Limited run by Anil Chopra. Lakme was established or set up in 1952 as a 100% subsidiary of Tata Mills. The company deals in providing a large range of cosmetic product with a reasonable and affordable price range that includes daily essentials like moisturiser, lip balm, kajal, nail polish, nail paint remover, makeup remover, range of lipsticks, compact, eyeliner, mascara, eyebrow pencil and many other.

Mission of the company- As India was concerned with Indian women spending lot of money in foreign beauty product so the company decided to get such product manufactured in India. The companys mission is to elimate the dependency of Indian customer on foreign product by producing such product that along with having quality is easily available at a affordable range.

Vision of the company- The company covers millions of customers under its product range, the company works to create and improve a better future everyday. It helps the people to feel good by making their everyday more beautiful with its wide range of products and services that add value to their life and are prove to be good for them and for others.

2020 Objectives of the company- It to spead the message of self confidence, an openess towards others through its promotion strategies it want to aims at developing a sense of confidence among the Indian women by changing their their attitude of seeing life by converting it into a positive attitude.

PEST ANALYSIS OF LAKME-

POLITICAL FACTORS- When their is conflicts going on in India regarding Hindu-Muslim and in which many of the lives were taken because of the on going conflict the designers used Lakme fashion week as a platform in order to protest against such conflict. They make their models walk on ramp with their face and mouth covered with blood.

ECONOMIC FACTORS- Higher rate of literacy and increased in the awareness of the fashion among the Indian women has raised the Indian cosmetic market to 250 billion Indian rupees in 2011. The company serves as a great market leader with a high market share in the indian market and with increased expectation to grow along with the market growth.

SOCIAL FACTORS- As the designer uses the lakme fashion week as a platform to protest against the conflict one of the wedding collection designer manish malhotra promotes gender equality and raised his voice against domestic voilence. This platform has also helped in raising money for social causes through its events.

TECHNOLOGICAL FACTORS- As the fashion keeps on changing everyday its demands for high research and development as in the skincare range of product the customer demands high research driven product for their use and so in order to maintain its position as a leader it has introduced its radiance product range to satisfy its customer.

Strategies of the company- The following are included in the market strategies of the Lakme-

Product- Its wide range of product help the company to attain a major market share in the domestic market. It deals in providing every range of product and provide the customer satisfaction through these wide variety of its products.

Place - It is the first indian brand that is not only spread across the country range but is spread to almost every corner of the world. It has a vast distribution channel that includes hundreds of sales outlet with beauty consultant.

Price- It provide the product having a moderate range which can be easily affordable by almost every Indian group. It pricing strategies helps in approaching the customer towards the product.

Promotion- The company advertise its product through several ad capaign, television, newspaper, magazines, social events, social media,etc It has also hired certain celebraties as its brand Ambassador as it believes in star power.

Idea 1 to launch a product- At a fashion show-

Potential risk- The audience will undermine the launched product as the show is about fashion clothing so they will focus on that first.

Potential benefits- The fashion people will be easily get attracted with such a launch

Risk probability and impact- Risk Probability includes the availability of other competitive brand and it will have its impact as a loss of customer.

Benefits probability and impact- Probable benefits includes a wide coverance of the product range and impact will me in form of increased customers.

Idea 2- to launch a product at the launch of a Magazine launch-

Potential benefits- It will cover the eyes of the media too as at the magazine launch their is a presence of a wide media group

Potential risk - Magazine launch also covers its competing product so its serves as a challenge for the company to come out as a shinning star..

Risk probability and impact- The Magazines doesnt catches the attention of its audience as other media of advertisement do so it may impact in low rate of advertisement.

Benefits probabilty and impact- It has a chance to cover a wide range of population as the fashion magazines are mostly the target of all indian women and thus impact in great sales