SWOT Analysis of the Industry:
Strength:
The market is saturated and no threat of the new entrants.
Fan industry is well matured and established industry.
The suppliers for the industry are established as well as short in numbers.
They can meet the demand of customised products i-e different colours of fans.
They are focusing on the quality that's why their products are reliable. Because of quality they give the products with life time warranty.
The labour wage rate is too low and most of them is on contract base.
Weakness:
They do not give importance on the backward integration as in this way they will become cost efficient.
They don't deal the supplier as a partner if they do so they can excel their business.
They do
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The competitive edge is gained on the basis of Porter competitive rule which includes direct competitors, substitute products, customers, suppliers, and new entrants. A SWOT analysis is designed to identify the strengths and weaknesses of the company (internal factors) and the opportunities and threats for the company (external factors).
OPPORTUNITIES:
Royal Fan has the major share in the export of fans to different countries.
Royal Fan participated in the international exhibition for electrical appliances held in Abu-Dhabi on 1993.
The company exports its product to Bangladesh, Saudi Arabia, Dubai, and Kuwait.
It was the first company to export its products to Middle-East.
They are providing the whole range of products with life time warranty.
They had made the name in the market so the customers takes its product due to the high quality.
THREATS:
Royal Fan is not alone in the business. There are competitors in the fan industry for the Royal fan.
The Rise in the price of the raw material is sudden because now a days the petroleum prices changes randomly.
Maintaining the quality of the products is also a major task for
everyone already likes their brand, so they do not need to try as hard. They also target peoples affective social identities. This is when a brand targets your true, inner identity. They aim to use peoples personal ideals, and personalities to get them to buy products. Then again they can
The SWOT analysis is a great way for companies or organizations to determine their brand and product’s strengths, weaknesses, opportunities, and threats. In order to more effectively determine these areas, separation of internal and external issues within the company or association is crucial.
The supply and demand are the main driving forces within this market, it can cause a change instantaneously overnight, and these cost issues are immediate to the consumer. There could be a fire in one of the local refineries causing product shut down, this can create a panic at the pump as well. There are many reasons why this product is so volatile, it cost too much money to refine and thereby is restricted in the method of refining. Supply means that there is a large supply available for product usage, pricing goes down, too much product, if the Demand is exact opposite occurs and there is short supply and the pricing is extremely quick to be changed at the pump. The markets can be also affected; they can be changed no matter how far the original production occurs, economics are disturbed, countries global markets respond to higher cost factors to operate business development causing inflation to jump to higher records slowing down global progress.
The SWOT analysis is a simple way of generating strategic marketing alternatives from a situation analysis. Another type of popular analysis is a PEST analysis, which involves Political, Economic or Environmental, Social, and Technological or Transportation analysis. An industry analysis can be performed using a framework developed by Michael Porter known as Porter's five forces. This framework evaluates entry barriers, suppliers, customers, substitute products, and industry rivalry.
SWOT analysis can be used to describe and analyse a company’s internal capabilities in relation to its competitive environment. A strategy behind
“A SWOT Analysis is the most used tool for audit and analysis of the overall strategic position of the business and its environment. Its principal purpose is to identify the strategies that will create a firm-specific business model. The plan aligns the organization’s resources and capabilities to the requirements of the environment in which the firm operates. The analysis is to evaluate any potential and limitations and the probable/likely opportunities and threats from the external environment. The results provide the positive and negative factors inside and outside the firm that affect the success.” A SWOT analysis is conducted to determine the strengths, weaknesses, opportunities, and potential threats to the organization. ("SWOT
The high quality of their products and at the same time the great variety of them was the key to their great success around the world. Offering the same but in different countries, by just using distinct names.
A SWOT analysis assesses the internal and external environment your product will be operating in. To perform your SWOT analysis, discuss two strengths, two weaknesses, two opportunities and two threats. Remember strengths and weaknesses are internal to your business usually having something to do with you and or your employees. Opportunities and threats are external, usually having something to do with competition,
A SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis of W.W. Grainger, Inc. is provided below. The SWOT analysis evaluates the company’s internal and external factors that are favorable or unfavorable and can be used as a planning method to achieve the company’s objectives. Strengths and weaknesses are often internal and can be measured or resolved within the company. Opportunities and threats are seldom external and requires careful
Easy visibility of the company and recognition of its brand name, due to unparalleled marketing strategies
The SWOT analysis of ASDA can help the organization to make strategic decision regarding their internal and external environment. However, Porter's model is also an effective analytical tool to evaluate competitive strategies. ASDA food has now strong sourcing and distribution network, they want to maximize their market at the each corner of the country as well as in the abroad. The parent company 'Wal-Mart' has strategic planning on the market expansion of ASDA food.
It is a widely used technique where managers create a quick overview of a company’s strategic situation. The basic premise behind SWOT analysis is that an effective strategy derives from a sound “fit” between a firm’s internal strengths and weaknesses and its external situation. The idea is to leverage the company’s strengths in light of the opportunities and minimize its weaknesses and threats. SWOT analysis is an integral part of the strategic management process because strategy is derived after a sound analysis of the firm’s
The focus of the SWOT analysis is to identify the key internal and external factors that are important to achieving the objective. SWOT analysis groups key pieces of information into two main categories; internal factors and external factors. The internal factors are the strengths and weaknesses that are internal to the company while the external factors are the opportunities and threats that presented by the external environment. The internal factors are determined by their impact on the company’s objectives. What may represent strengths with respect to one objective may be weaknesses for another objective. The external factors may include technological change, legislation, cultural changes, and changes in the marketplace or competitive position (Wood, 2008).
SWOT stands for strengths, weaknesses, opportunities, and threats (Ferrell and Hartline, 2014, p. 39). A SWOT analysis evaluates both the internal factors (strengths and weaknesses) and external factors (opportunities and threats) that create advantages and disadvantages to a company when serving its customers (p. 39). A SWOT analysis is extremely beneficial in helping a company determine areas of improvement (p. 39). Internal factors examine the actual company being analyzed while external factors examine the external market (customers and competition) (p. 85).
quality, and recognized by the consumer as such. The brand is seen as expensive, but