(Solution) Principles of Marketing Situation and Company Analysis
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Description
Solution
4.0 Situation and Company Analysis
4.1 Economic environment
KSA is currently ranked as the largest economy in Middle East and North Africa (MENA) region having a GDP of an upward of USD 1 Trillion with a population of more than 30 million individuals (Focus Economics, 2024). As the largest oil and gas producer, it is normally accounting for 40% of the GDP in KSA. It is this large market that the current report will focus on venturing offering the healthy foods.
4.2 Technical environment
In KSA, technology represent a significant enabler of achievement of set goals in organisations operations valued at $40.9 billion and inclusive of 4.1% of KSA GDP. With Nutribite intending to establish an application the market offer an opportunity for leveraging on innovation to harness their operations (Trade.GOV, 2024).
4.3 Industry environment
In KSA, the food industry accounts for 80% of imports for food products (Baig et al., 2019). This is with healthy food products accounting for approximately 10.44% CAGR in the years 2024-2032. In the online food delivery where the Nutribite application would venture, it accounts for approximately US$11.74 bn as at 2024 (Statista, 2024).
4.4 Competitive environment
Their key competitors include and not limited to Nestle, Ronesca, Danone, Aboott and Nutricia. However, Nutribite would leverage on competitive advantage as the other organisations lack a sustainable and successful operations in KSA food industry.
4.5 Mission, Objectives & Goals
Nutribite mission statement is “reliability
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