Wish You Wood Store Swot Case Study
Essay Preview: Wish You Wood Store Swot Case Study
Report this essay
WISH YOU WOODSWOT Analysis: -Strength’s: -Piney Lake is one of the holiday destination for tourists all around the globe, where the store “WISH YOU WOOD” is located. When the families visit the lake, they enter this store whether willing to buy wooden toys or just attracted towards its showcase. Many tourists are attracted towards the store because of prime location, it was their main strength and also people who live in cabins around this state park likely to be their customers .Moreover it was clear that owners Jim and Pam personally examine and choose wooden toys from the selected handcrafts around the globe, it shows their concerned management towards their business, other side of the coin due to this selection process they had best collection of toys and customers are likely to more attracted towards their product. The next strength they have was returning customers shows their loyalty as well. The other main strength was Desire for Expansion, as they sell toys in only one particular store they collaborated with Amazon.com and they earned good amount than by selling at just Piney Lakes store. Weaknesses: -In this modern world, I think Jim and Pam has poor marketing skills hence they failed in pushing own store website. They also bind to only wooden toys rather can think more innovatively to introduce new products. They are not technically sound, hence failed to run own e-commerce site for online sails.Opportunities: -Wish You Wood can present its products to the global market by its own marketing and business strategy. The percentage of sales will be boosted at the store just by enhancing products and offerings. Expansion in the e-customers can be promoted by special bundles, discounts and membership programs.
Threats: -There is always a tough competition since many business owners are in the market in same platform. There is a chance that product can be easily duplicated and hence projects bad reputation to the original innovation from craftsmen. Price differences is always a threat since with some dollars less price a particular item will be first in the search list for the customer in online shopping.Analysis:-As per my analysis, the business plan should not enter into partnership option since the new partners will easily understand the key aspects and secrets and in future become strategic competitors. From my SWOT analysis, I clearly identified that failure of own stores website is the root reason behind all the problems that raised. It is also clear that lack of marketing, technological skills made them fail easily.Tim and Pam from “Wish you Wood” Store must follow the below strategy:-Store should develop a complete brand-new website with presenting all the three dimensional pictures of toys to the potential customers. The website should track all the customers as well as make them register an account so that easy to promote new arrivals and attractions to the registered customers. A team of customers representatives should work round the clock with shifts 24/7 and support online chat as well. This team will be assisting customers from creating account, providing special bundles, placing orders, entering rebate , exchange, returns, shipping and feedback. A team for marketing with innovative manager that promotes brand towards the globe, marketing plans like advertisements in magazines, newspapers. Promotion can also be done in social networking sites like creating pages in Facebook, posting pictures with website link in twitter etc can be implemented rigorously. A Special logo has to be designed to promote store and printed on T-shirts, pens, sketchers, run campaign at schools to attract children. Special discount’s, offers, deals and reward points should be given to customers. All the teams like Marketing, Customer relations, Innovation and Craftsmen team have to work together to enhance brand around the globe. By following the above strategy it gives huge hike in profits even more collaborative teams were employed