• Internal Code :
  • Subject Code : MKT101A
  • University : Victoria University
  • Subject Name : Marketing Fundamentals

Business Environment analysis: Pocket legal

Contents

Introduction 

SWOT Analysis 

Strengths: 

Weakness 

Opportunities: 

Threats: 

Competitor’s analysis 

4P’s framework 

Product 

Price 

Place: 

Promotion 

Conclusion 

References

Introduction

Pocket legal is a full-service migration company. The company is located in Sydney and Melbourne.  It consists of experienced migration lawyers and registered migration agents. Furthermore, the company manages all the aspects of the Australian immigration process from beginning to end. The digital platform of the company streamlines the whole procedure, making it easy for individuals, applicants, and employers to manage. The particular report is focusing on analyzing different elements of the marketing process. It will further analyze the macro and microenvironment of the business finally, the conclusion will summarise the overall findings.

SWOT Analysis

Pocket legal engaged in the services of a core professional in the area of business consulting. The SWOT analysis will be useful in analyzing the strength, weaknesses, opportunities, and threats of the organization (Gürel & Tat, 2017).

Strengths

The core strength of the company is highly qualified immigration attorneys and support staff members. The team that is trained, qualified and equipped can easily provide high-quality services to the clients. The main strengths of the company are:

  1. Highly qualified workforce

  2. Competitive prices

  3. Well-developed marketing strategies

Weakness

The immigration industry is highly competitive and there are some new players which may come up with new ideas and innovations. The high competition may affect the existing market share of Pocket legal. The major weaknesses of the company are:

  1. High competition

  2. High marketing costs

  3. It will take some time for the company to establish a strong reputation

Opportunities

The company can sell its services to other cities, companies and private persons. Furthermore, the wide range of options will help the company to expand in the most effective manner (Bull et al., 2016). The major opportunities for the company are:

  1. Competitive pricing strategies may allow the company to gain more market share

  2. Increasing demand for international travel

  3. Hiring qualified personnel will upsurge the profitability of the business

Threats

  1. The company have been unable to penetrate some of the international markets like some of its competitors

  2. Stiff competition from existing players may result in a reduction of market share.

  3. The rising number of new industry participants will intensify the competition

Competitor’s analysis 

The competitive analysis is an important requirement because it reveals the competitive position of the company and assists in developing effective strategies. The main competitions of the company are Playfair Visa and migration services, Philip AU and associates and Aussie group. Furthermore, any business that operates with a similar model serves as direct or indirect competitors (Payton & Varnava, 2019).  The company distinguishes itself through exceptional customer service. However, indirect competitors for this company would be online immigration agents which may provide services at more affordable prices.

4P’s framework

The marketing mix includes four strategies such as product, price, place, and promotion.

Product

The current services provide information on immigration issues, translation services and guidance related to immigration issues in multiple languages. Furthermore, the content of the service is determined according to the need of the client (Wu & Li, 2018). This creates an opportunity to follow customer needs, which makes them sensitive towards the needs of clients.

Price

Setting the appropriate prices can be one of the most challenging decisions in marketing. The company should consider numerous factors while setting the prices including production cost, competitors' price level, corporate objective. Since pocket legal provides its services according to the competitor price level. To increase the market share it is necessary to identify the pricing strategies of close competitors. 

Place

The company has two main branches located in Sydney and Melbourne. Furthermore, the highly qualified workforce provides a competitive advantage to the company. Furthermore, the company uses it a unique business model to offer new and effective services to the clients. The offices are located at an appropriate location so that customers can easily seek their guidance. 

Promotion

Pocket legal has organized many promotional events for immigrants to let immigrant s know more about the services and benefits. Furthermore, appropriate promotional and advertising methods are used by the companies to provide the right information to the clients. 

Conclusion

It has been concluded from the above report that Pocket legal is an effective and efficient migration company. Furthermore, the SWOT analysis revealed that highly proficient immigration agents are providing a competitive advantage to the company. The analysis also specified some weaknesses like high competition and high marketing costs. Furthermore, the company can cope up with these issues by designing the most effective strategies. Also, the analysis specified that the company must focus on understanding the changing needs of the customers to provide high-quality services. 

References

Bull, J. W., Jobstvogt, N., Böhnke-Henrichs, A., Mascarenhas, A., Sitas, N., Baulcomb, C., ... & Carter-Silk, E. (2016). Strengths, Weaknesses, Opportunities and Threats: A SWOT analysis of the ecosystem services framework. Ecosystem services, 17, 99-111.

Gürel, E., & Tat, M. (2017). SWOT analysis: a theoretical review. Journal of International Social Research, 10(51).

Payton, P., & Varnava, A. (Eds.). (2019). Australia, Migration and Empire: Immigrants in a Globalised World. Springer. 

Wu, Y. L., & Li, E. Y. (2018). Marketing mix, customer value, and customer loyalty in social commerce. Internet Research.

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