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.

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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