Let us look at the terms : SWOT, PESTLE and Porter’s Five forces
SWOT analysis is an acronym for the Strengths Weaknesses Oppurtunities and Threats analysis of the organization.
PESTLE analysis Is also an acronym for Political Economical Social Technological Legal and environmental factors that might affect a business or an organization.
Porter’s five forces analysis include the bargaining power of existing suppliers, bargaining power of customers, rivalry between competitors, threat of substitute products and threat of new entrants.
According to the Case study: SWOT for Biotech is
Strengths: R and D, brand name and a strong marketing and sales department
Weaknesses: The product line might totally not perform as there is no preexisting fallback
Oppurtunities: To be able to create innovative products in the existing and established verticle
Threats: from already existing competition in the nutraceutical market.
Now you can arrive at the PESTLE and the Porter’s five analysis by understanding the definition.
The company’s Vision and Mission moving forward is to focus on growing the baby boomer product line.
The stratgeic plan for the company would be to market the baby boomer new products as products that would help and aid the baby boomers in preventing chronic diseases including hypertension, diabetes, etc by changing certain life habits. The stress should be on preventing the diseases and should be a shift from the thought process of just intervention. Awareness of eating healthy to stay healthy is prevalent in the society today and is better understood by baby boomers and so Biotech has to plan to enhance its innovativeness and to educate the same to its customers.
Biotech is geared to be a forerunner in the ‘all natural’ products for the baby boomer vertical and will be a tough competition for the existing competitors as well as new entrants into nutraceutical space owing to the fact that Valeries’s team has developed the products after much elaborate and definitive research and developmental activities. Biotech may have an edge over its competition as not many products exist for baby boomers exclusively and also the name’ bommers best bets’ has a personal catchy feel to it. The environmentally conscious, healthy lifestyle preferring baby boomers would definitely make for ardent fans of ecofriendly tea packaging, ‘all natural’ products, great supplements and fun taste that is all evident in the products that Valerie and her team have lined up. Also the fact thought straws are provided for the packaged tea supplement to prevent tooth decay and stains suggests that much thought has gone into making of the product.This has to be promoted and advertised for customers to be aware. Therefore Biotech would have many sure winners in this vertical.
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