Fragrances Direct Corporate Strategy
INTRODUCTION
Fragrances direct is online retail business which offers the fragrances products and many more products on discounted rates based on direct sales. The business is owed by couple since 1999. In few years business got its name and profit and established its position in the market. As a marketing consultant the following report is prepared for director of fragrances direct which covers various marketing aspects such as SWOT analysis of business, marketing mix, and market segmentation and most important is the analysis of benefits and disadvantages of internet business for fragrances direct so it can make strategies for future expansion.
ANALYSIS OF INTERNAL AND EXTERNAL FACTORS:
Analysis of internal factors is very important to formulate any marketing strategy. Internal factors and based on analysis of strengths and weakness of business and external factors are based on the opportunities and threats. (Farrell & Hartline, 2010)
SWOT ANALYSIS
STRENGTHS: the skills and capabilities of company are known as strengths and are responsible for the growth of business. The major strength of fragrances direct is to have the strong direct selling strategy. For this various direct selling channels are adopted by the fragrances direct. It approaches the large geographical area as United Kingdom and European countries for direct selling. The offering of variety of products and variety of brands are also main strengths of the company. Major business strategy of fragrance direct is the cost effectiveness as offers the branded products on discounted rate for this it adopt the strategy of lowering of cost. Fragrances direct has also gained the name and fame for its business and growth of business and its balance sheet also show this thing. The effective website is also strength of fragrances direct
WEAKNESSES: as the growth of business shows not any serious weaknesses for fragrances direct. As compared to its competitors it offers less variety of products. It can add more products as aftershaves, baby products etc. It has also limited approach to only United Kingdom and European countries.
OPPORTUNITIES: as online shopping in gaining more and more popularity these days so fragrances direct can take advantage from this thing. It can offer more products such as baby toiletries, aftershave etc. it can increase the online sale. It can expand the business by opening retail stores. Fragrances direct can take advantages by entering into developing market as these markets are considered for growth of business these days. The growing popularity of male grooming products is also best opportunity for fragrances direct. It can also use other kind of promotional strategies such as newspapers, IPhones etc.
THREATS: the major threat for fragrance direct is the offering of online products by retail stores also. Today is