Case Study : Brides And Grooms

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The company I have chosen for this assignment is Brides & Grooms CC. The company is a small family business which was started in 2010. The revenue grew consistently for the first three years. In the last two years the company experienced about 20% reduction in sales. The company is run by the owner, who is also responsible for the buying function. She is assisted by her two daughters who are responsible for the sales. The company sells wedding gowns and wedding accessories such as tiaras, veils and gloves. The owner sources the gowns mainly from Europe and occasionally from United States of America. They run the business from their home in the northern suburbs. The reason I chose this company for this assignment is because the company…show more content…
- Product Development This strategy involves the development of new products to existing markets - Diversification This strategy involves the development of new products to be sold in new markets. In order to properly evaluate these alternatives and come up with an appropriate strategy which will maximize the Brides & Grooms’ sales, a SWOT analysis must be completed to help identify the company’s key opportunities and threats. 2.1 SWOT ANALYSIS Below are the Strengths, Weaknesses, Opportunities and Threats for Brides & Grooms. These were identified in conjunction with the owner and her team. Strengths - Low overheads - Personalized service - Long operating hours - High quality Weaknesses - Declining inventory turnover - Operates from home - No advertising or marketing of products - Limited secondary product ranges - Large portion of target market is unaware of Brides & Grooms Opportunities - Repositioning the brand - Increase customer base through rewards for referring customers - Increase e-commerce sales - Open shop in retail centres Threats - Shoplifting - Security of cash and inventory - Cheaper imitations 2.2 ANSOFF MATRIX The Ansoff Matrix has four growth alternatives and each of these alternatives have a certain amount of risk and investment levels associated with it. The diagram below shows the level of
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