Strategic Analysis of Business Environment and Marketing Strategies

Strategic Analysis of Business Environment and Marketing Strategies
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Introduction
The success of many organizations is highly attributed to their effective adaptation to the environmental needs. This is realizable with the study of the environment to understand and identify environmental factors, which influence their performance significantly (Harrison, 2013). An example of business organization that effectively employs the principles of environmental analysis and adoption of effective marketing strategies is Toronto Gold Bullion organization. The organization is recognized globally secondary to the quality of its products and services it provides to its consumers and successful marketing strategies adopted by the organization. Toronto Gold Bullion Inc. provides high quality products such as precious metals in the form of coins and bars to the clients. The organization engages itself in selling and buying precious metals such as gold, silver, and bronze among other precious metals from and to its clients (Harrison & St, 2010).
Currently, Toronto Gold Bullion organization strives to expand its area of operation to new markets to ensure its success. This forms the major issue facing the organization as it develops strategies of enhancing effective management of its operations. The organization uses strategies such as conducting surveys to evaluate the success of its operations. The surveys involves acquiring information from different customers utilizing the products provided by the organization and obtaining views from the organization's employees on the nature and ways of improving operations within the organization (Ginter et al. 2013). Additionally, the organization uses views from its stakeholders to gauge its performance. This entails acquiring information related to the performance of the organization from contractors, investors, managers, and lenders. Apart from these, evaluating employee and customer satisfaction to the products and services offered by the organization acts as a tool used for determining the success of the organization. The higher rate of consumer and employee satisfaction implies improved performance secondary to motivation, innovation, and job satisfaction (Harrison, 2013).
The Toronto Gold Bul...