Compare their different approaches to analyse market transformation and discuss what strengths/weaknesses you see in their respective arguments? Use empirical/historical examples to illustrate your reasoning.

APPROACHES TO MARKETING TRANSFORMATION Market transformation is a tactical action to increase the share of products and services that are energy-efficient in selected markets. In the private company environment, market transformation is fundamentally the same as marketing strategy. One significant difference is that market transformation is driven by social goals of enhancing market performance to produce higher energy efficiency. A market study uses both historical and current data to help create and promote goods at the correct price to the right customers. SWOT analysis and PEST analysis are the two popular market analysis methods that aid in identifying and foreseeing significant market developments, protecting your products, policies, and procedures. SWOT ANALYSIS Strengths, Weaknesses, Opportunities, and Threats is often known as a SWOT analysis. It can be a terrific technique to summarise different industry factors and ascertain what they mean for the particular business. Businesses utilise a SWOT analysis as a tool to evaluate their strengths, weaknesses, opportunities, and threats. The firm then uses this information to guide its decisions about how to proceed. Any situation, including corporate planning, marketing, product development, and more, can benefit from the SWOT analysis. Advantages: · Aids organisations in making wiser decisions · Deals with flaws · Prevent threats · Seize opportunities. · Assist in creating workable business objectives and plans Disadvantages: · Issues are not prioritised. · Does not offer a solution · Might seem overwhelming · Not all generated data is helpful. · Narrow in scope PEST ANALYSIS The capacity for a firm to make money is influenced by a variety of macro environmental elements in addition to specific internal and external problems. PEST analysis is a method of market study that aims to identify the current political, economic, social, and technological challenges affecting a company. A relevant framework for analysing the external environment is PEST analysis. The PEST Analysis should be done frequently inside a company to enable the identification of any trends in order to optimise its benefits. The PEST technique can assist illustrate why change is necessary and offer alternative solutions since the influence of a specific external factor may have more serious consequences for a specific division or department. Advantages · Offers a clear and user-friendly framework for your investigation. · Requires expertise and talents from multiple fields. · Assists in lessening the effects and consequences of any threats to your organisation. · Promotes and supports the growth of strategic thinking inside your company. · Offers a method for your company to find and take advantage of new opportunities. · Allows you to weigh the pros and cons of expanding into new markets on a national and international level. Disadvantages · Users have a tendency to oversimplify the data that guides their choices. · To be effective, the procedure must be repeated frequently, yet corporations frequently neglect to make this commitment. · Users must avoid "paralysis by analysis," where they gather too much data and lose sight of the fact that the goal of this tool is to identify problems so that remedial action can be taken. · Due to time and financial constraints, organisations frequently limit who can participate. Both historically and experimentally, various elements of effective market change are examined. The success criteria for individual promotion campaigns are first addressed and categorised at the historical level, and for market transformation as a whole, the focus is placed on the interactions between actors. We present Combined Action-Flow graphs as a tool for visualising the linkages. The market penetration of condensing boilers in Europe is examined in the empirical section. In order to discover the role of actor interaction and promotion design aspects in addition to typically taken into account technical and economic factors, both international comparisons and in-depth customer surveys for many promotion activities in one country are used. A good market transformation gives businesses measurable information on many of the factors affecting a certain market. It aids in the forecasting of supply and demand, and therefore, the financial results of the firm. It shows the level of industry competition and the expenses of entering and leaving the market. It is crucial while preparing for a small business. An industry's present stage can be determined by analysis, including whether it is still expanding and has room for growth or whether it has hit its saturation point.

Compare their different approaches to analyse market transformation and

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