For an organization to do a comprehensive analysis both the external and interna

Question

For an organization to do a comprehensive analysis both the external and internal analysis must be completed. The external environment consists of variables that an organization cannot control whereas the internal environment consists of controllable variable. Assessing both the external and internal environments helps develop strategies that create a competitive advantage for an organization. An organization wants to leverage its internal strengths and take advantage of external opportunities.

In this project, your group will complete a SWOT analysis, a PESTLE analysis and a Porter’s Five Forces analysis for BIOTECH. You will then discuss the relationship between these assessment tools and the company’s vision statement and mission statement in developing a strategic plan.   Lastly, you will provide a convincing argument as to why the new project meets the strategic plan and why Biotech is well positioned for the future in the nutraceuticals and supplements market.

Valerie Harper has often been responsible for the development of new products based on what marketing considers high target markets. Valerie has recently been handed the research results on Biotech’s customer demographics. Based on the research, the Marketing Department would like to see Biotech develop products geared toward the baby boomer market.

From reviewing the research, Valerie noted that Biotech has done little development of the over 50 customer demographics. The current Biotech line has a few joint supplement products and vitamins targeted toward this age group but nothing more. Valerie researched the trends and found high blood pressure, Type 2 diabetes and Alzheimer’s/dementia were a few of the major health concerns for the over 50 customers. Further research revealed clinically proven effects of hibiscus tea on reducing blood pressure. This finding led Valerie to consider developing a product that was all-natural, good tasting, and competitive with existing teas. The tea would be pre-made and packaged in paper cartons with coated sealant. The plan is to promote the tea as natural products for green accountability. The tea container would include a straw so potential tooth erosion from the acidic tea could be minimized.

Valerie also thought about other products that might be appealing to baby boomers. She came across several ideas. The first is a protein bar that was made with coconut, dark chocolate, almonds, and blueberries. The bar would contains all-natural products that would increase the protection of brain function through protective antioxidants, thus protecting against dementia and Alzheimer’s. A second bar would contain natural herbs and would be developed with help from a vendor located in India, which helps lower blood sugar in Type 2 diabetes.   

Valerie named the test line Boomers Best Bets for the purposes of development. Having come up with samples of the products, costs and overall descriptions of the products, Valerie and the head of marketing were now ready to approach the Strategic Planning Committee with their new product ideas. Valerie put together a team including a person from Marketing, Production, and Quality Control to review the products and decide how to position the products for acceptance by the Strategic Planning Committee.

Your team is part of Valerie’s Pitch Team and has been tasked with creating PowerPoint presentation that Valerie will use to “pitch” the Boomers Best Bets to the Strategic Planning Committee.

Valerie has given detailed instructions for the PowerPoint presentation. Make sure to follow the instructions. To better prepare you for the tasks at hand, you will:

Research the nutraceuticals and supplements industry to assess the external environment of the business;  

Complete the internal environmental analysis by looking at the Company Profile;

Use of the Note Section of PowerPoint to provide the analysis.

For the purpose of this project assume that budget and financial issues can be reasonably met.

The PowerPoint presentation must include the following:

Introduction to the Strategic Planning Committee explaining the purpose of the presentation;

A SWOT analysis, PESTLE analysis, and Porter’s Five Forces analysis;

A discussion of the vision and mission statements with an explanation of how the vision and mission of the Biotech works in concert with the SWOT analysis, PESTLE analysis, and Porter’s Five Forces analysis to help develop a strategic plan for the company’s future;

Convincing arguments as to why:

Boomer’s Best Bets meets the strategic plan suggested by the total analysis;

Biotech has a strong position for a future in the nutraceuticals and supplements market.

Use the Note section to provide a thorough analysis

Explanation / Answer

Introduction:

This presentation is prepared to focus on the new products in nutraceuticals which would cater to baby boomers markets which would typically target customers over 50.

The new products include hibiscus tea and protein bars. The tea would help in fighting against the high blood pressure and alzeihmer problem while the protein bars would help in keeping the brains strong as well as keeping sugar levels in control.

The below depicted analysis would help to gain more insight in the research conducted and idea of new products line.

SWOT Analysis:

Strenghts:

Weakness:

Oppotunities:

Threat:

PESTLE Analysis:

Political: The government focus on health industry and huge investments in this industry would help the Nutraceuticals and supplements industry to grow well

Economical: As the products in this industry caters to niche segment, the margins are higher. So, as disposable income is increasing, the expenditure on such products would he higher

Social: It is beneficial for the society and it would socially influence people to go for nutraceuticals products over allopathy medicines which would again boost demand

Technological: Good research and technology is needed for building up of nutra products, thus great R&D team would help companies to stand out

Legal: As such, no legal barrier could hamper the nutra industry but excessive use of chemicals made ingredients could affect suppliment industry

Environmental: This indutsry has positive impact on enviromnent as they are natural made with minimum artifical and chemical products

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