Global Market Forces and General Mills
1) What is your opinion on JEANSHAY’S ANSWERS to the Questions below?
JEANSHAY’S ANSWERS
WE WRITE ESSAYS FOR STUDENTS
Tell us about your assignment and we will find the best writer for your paper.
Write My Essay For MeAs I read over Porter’s five forces, I determine which force is the highest in regards to General Mills. Threat of substitutes are very high since General Mills depends on their loyal customers to continue purchasing their brand products. However, in state of the economy suffering from job lost or a defict, many customers would turn to off brand products (generic) to satisfy to their need of saving money. On the contrary, if the economy prospers, many customers may turn to a more expensive product. Therefore, a generic or an expensive product could have an effect with the threat of substitutes of General Mills.
Secondly, competitive rivalry is very critical to General Mills operations. There are several food industries fighting in the market. This results in many food manufacturing industries becoming rivalries and a continous assesment of their company to ensure they are properly marketing themselves assuring that there is something that stands that particular food industry from others.
In addition to General Mills’ Porter’s Forces, the PEST concept effects the decision making that are beyond it’s control and influence. For example, economic changes may impact the growth of business and marketing. The rapid change of technology could affect the ability of General Mills capibilites with the current market strategy. Today’s world is focus on reaching it’s customers through technology avenues, such as social media. Also, the socio- cultural facet has an impact, such as ensuring their products are revelant with the changing society. Remaining constant with the revolving world is very important. For example, the current social taboo of a society’s current trend. If the current trend is being fit, General Mills need to ensure they are producing products to comply with what the community desires at that time.
In conclusion, General Mills ranks 10 in my book of a successful company. This food industry appeals to the young and mature adult from breakfast cerals to pastries. Also, the health portion is targeted for those consumers that yerns to eat different, such as organic and natural products. In addition, socio- cultural is not lacking in this company, in which social websites are maximized in all aspects to reach every culture, race, sex or age of a person.
General Mills. (n.d). Retrieved on 13 August 2015 at generalmills.com
Markwell, S. Assessing PEST. (2009). Retrieved on 13 August 2015 at healthknowledge.org
QUESTIONS???????????We focus on SWOT. In order to complete a SWOT, we are required to identify and analyze the key opportunities and threats in the external environment. Then, we need to identify and analyze the company’s key strengths and weaknesses (internal analysis).
During Week 1, you are asked to address the following:
a) Evaluate the operating industry of General Mills using a minimum of two forces included within Porter’s Five Forces model.
b) Using PEST, assess General Mills’ remote environment using a minimum of two PEST forces.
c) Conclude your assessment about the overall environment. Is it more or less favorable for General Mills? Give your ranking from 1-10 (in which 1 = vast gloom and doom for this company; 10 = huge bonus this year!). Where do you think General Mills fits on this 1-10 scale?
2) What is your opinion on ANTONIO’S ANSWERS to the Questions above?
ANTONIO’S ANSWERS
General Mills’ Porter’s Five Forces Assessment
Threat of New Entrants. The threat against General Mills from new entrants is relatively low. New or existing companies trying to compete against General Mills will have to spend a considerably large amount of money to develop, produce and supply good quality products for customers to choose from. Another significant challenge any new entrant will face is the lack of brand identity and loyalty their products will face against General Mills’ already known and liked worldwide products. Brand loyalty results from utility of the product or service, time, quality of the product or service, and the price set for such products or services.
Rivalry: General Mills faces some relevant and strong competitors such as: Nestle S.A., Frito-Lay North America, Tyson Foods Inc., Kellogg Co., Campbell Foods Co., and ConAgra Foods Inc. These competitors are very well known companies that can introduce innovative products that change the processed and packaged goods market segment at any given time. Therefore, General Mills should seriously consider these competitors’ threat.
General Mills’ PEST Assessment
Social. General Mills’ top executive understand the shift our society is taking by attempting to consume healthier products. Many customers worldwide are purchasing their products based some important facts such as: fiber; fat; gluten; vitamins and minerals; protein. General Mills’ products have to address the current and potential customers that are looking for healthier food products, good quality/taste food, and for reasonable prices. Failure to address these issues can be catastrophic for General Mills and their stakeholders.
Economic. The worldwide economic growth rate will have a direct impact on the total sales and profit General Mills earns yearly. A very large business organization such as General Mills can be drastically affected by worldwide politics and/or socio-economic issues. The number of sales and profit can quickly change during low economic performance times. Therefore, General Mills’ strategic managers have to be able to understand worldwide economics and how it can affect the company’s financial performance.
I believe that General Mills will continue to enjoy a favorable environment. I rank the company’s overall performance with score of 7. General Mills’ current performance is very solid, but there are also very important issues that can change the company’s current performance.
Place your order now for a similar paper and have exceptional work written by our team of experts to guarantee you A Results
The post Global Market Forces and General Mills appeared first on Custom Nursing Term Papers.
Let our team of professional writers take care of your essays for you! We provide quality and plagiarism free academic papers written from scratch. Sit back, relax, and leave the writing to us! Meet some of our best research paper writing experts. We obey strict privacy policies to secure every byte of information between you and us.
ORDER ORIGINAL ANSWERS WRITTEN FROM SCRATCH