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1 Deere & Company Marketing Strategy Student’s Name Department: University Course code: Course Name Professor’s Name Due Date

2 Deere & Company Marketing Strategy An effective market development strategy is vital for an organization’s success and longevity in the industry within which it produces or offers service to its customers. Developing a marketing strategy requires SWOTT analysis, which helps to determine the organization’s internal factors like strengths and weaknesses, and external factors like opportunities, threats, and trends to impact its business performance. Like every other business, Deere & Company’s SWOTT analysis reveals its strengths, weaknesses, opportunities, threats, and trends that dictate its position as the world’s leading turf and agricultural equipment manufacturer. Deere & Company was founded by John Deere in 1836 when he invented the steel plow (John Deere, 2019). It focuses on manufacturing heavy equipment like agricultural, construction, and forestry machinery. The company operates in more than 30 countries worldwide, with the U.S. and Canadian operations accounting for the largest proportion of its sales. (John Deere, 2019). Its portfolio has more than 25 brands that command a large clientele in the fields of agriculture, timber harvesting, and construction in the countries of its operation because it produces easy-to-use equipment that simplifies its customers’ work and meets their needs (John Deere, 2019). Thus, the company produces a large variety of agricultural, construction, and forestry machinery in over 30 countries worldwide, making it the leading agricultural equipment manufacturer. Deere & Company SWOTT Analysis Strength, Weakness, Opportunities, Threats, and Trends (SWOTT) analysis evaluates an organization’s features, market position, and market demand that are crucial to its business operations (Phadermrod et al., 2019). Deere & Company has several strengths that make it a leading manufacturer in the market. Its strengths include a diverse product portfolio, which offers

3 a wide range of products, a great employee base surpassing 55,000 that provides adequate human resources to run operations, and a strong financial muscle that smoothens operations (John Deere, 2019). It also has excellent and innovative leadership that inspires its outstanding performance in the manufacturing of agricultural and heavy equipment (Zigu, 2020). The strengths provide it with a competitive advantage in the market, encourage brand loyalty, and exceptional customer relationship management, thereby making it the leading firm in equipment and machinery manufacturing in agriculture, construction, and forestry. On the other hand, the company’s major weakness is its limited worldwide awareness and penetration as compared to other competitors in the industry, especially in the zones that are dominated by other competitors in the industry (Zigu, 2020). It operates in just over 30 countries worldwide, which represents a very small portion of the world. Its lack of desire to widen its worldwide market presents an opportunity for its competitors to thrive and have stronger market bases (Zigu, 2020). Expanding the company’s worldwide reach would enlarge its market base and further improve its profitability. Deere & Company’s opportunities include fostering partnerships and collaboration with other global companies to enhance its market penetration. Its expansion policy presents it with a unique opportunity to expand and compete in the undominated markets (Zigu, 2020). Furthermore, its potential to quickly subdue steadily rising markets enables them to strategically invest in prospective markets (Phadermrod et al., 2019). Thus, Deere & Company’s opportunities enable it to expand its operations base and explore new markets. The company also has some threats like government policies and regulations, economic aspects like interest rates which affect consumer behavior, labor issues, and the risk of reduced attention to its established markets at the expense of focusing on fresh markets that can lead to

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4 loss of market share to competitors. These threats hinder the company’s operations and greatly regulate its profitability, making it difficult to explore features outside the set government policies and guidelines. On the other hand, the company must pay close attention to the current trends, technological advances, and inventions, that are likely to influence its equipment manufacturing to enable it to stay in the market (Zigu, 2020). Technological trends, inspired by the fourth industrial revolution have greatly shaped the manufacturing industry, with the invention of automation services. that are relevant to this industry to help it maintain its stature as a leader therein, thus a very important element for consideration Thus, the company’s threats and trends greatly influence its operations and dictate its overall performance. Current and Revised Mission Statements The company’s mission statement is “To double and double again the John Deere experience of genuine value for employees, customers, and shareholders.” The company does not only focus on customers, employees, and people associated with it but supersedes those expectations and sets the bar a notch higher to make sure that one is satisfied with the experience. The mission statement tackles the customer, product and service, market, and core competence thus qualifying as great. The revised mission statement would be “To empower customers and improve their productivity and profitability through reliable, innovative, and sustainable equipment, technology, and services.” This statement emphasizes customer empowerment, mentions the company’s services, and incorporates the current trends of innovation and sustainability through technological development. Furthermore, it is clear and concise, making it easily understandable by all company stakeholders. Therefore, a good marketing strategy requires a SWOTT analysis to evaluate the company’s position in the market. Deere & Company’s strengths and opportunities outweigh its

5 weaknesses and threats, hence its excellent performance in the market. Strategic planners can devise ways to address its threats and weaknesses while leveraging its opportunities and strengths to expand its customer reach and quality of services. Although its mission statement addresses all its stakeholders, it can be revised to show its commitment to current trends in innovation and technology.

6 References John Deere. (2019). John Deere US | Products & Services Information . Deere.com. https://www.deere.com/en/index.html Phadermrod, B., Crowder, R. M., & Wills, G. B. (2019). Importance-Performance analysis based SWOT analysis. International Journal of Information Management , 44 (12), 194–203. Sciencedirect. https://doi.org/https://doi.org/10.1016/j.ijinfomgt.2016.03.009 Zigu. (2020). John Deere & Company SWOT analysis, competitors & USP . MBA Skool- Study.Learn.Share. https://www.mbaskool.com/brandguide/heavy-equipment-and- engineering/4225-john-deere-a-company.html

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