Swot Analysis Of Carolina's Therapeutic Spa

Threat from New Entrants There are currently no new threats from new entrants in this market. Company G’s technology, testing and production process that is very efficient for profitability cannot be easily replicated.

Marketing: Initially we will attempt to keep pace with the awareness and accessibility of our competitors ' products. After we establish our cost leadership position we will revisit our situation to decide whether sales and promotion budgets should be reduced or if we should continue to match our competitors. Our prices will be lower than average.

3. Describe at least 3 nonprice competition strategies a company could use to convince customers that its product is better than other similar products. Why would those strategies matter to customers? (1-6 sentences. 3.0 points)

Answer the following question: How would possible changes in the industry’s market structure impact your chosen company’s business strategy in the future? Keep your company’s current business strategy in mind in your response.

To effectively analyze these variables, you will need to conduct significant research and relate your findings in your report. It may be feasible to ask what economic conditions are affecting the organization today, and what the outlook is, based on your assessment.

Discuss the strategic decisions that firms in this sector may be facing. What future strategies can firms pursue to try to secure their competitive advantage and long term survival?

Greig and Peck have already done some research about who their competitors will be. They see Fleetway and Palasad North as their direct competitors and Tim Hortons, Starbucks and William's Coffee Pub as their indirect competitors.

Individual Assignment 1: Using a company that you are familiar with, explain how factors in the external business environment influence marketing strategies and outcomes

What driving forces do you see at work in this industry? Are they likely to impact the industry’s competitive structure favorably or unfavorably? (Did we answer this question?)

The entrance of a new competitor into a market can cause a business to change its marketing strategy. For example, a small electronics store that was the only game in town might have to change its image in the marketplace when a large chain store opens nearby. While the smaller store might not be able to compete in price, it can use advertising to position itself as the friendly, service-oriented local alternative.

A company needs to create a series of programs to differentiate their product from those from its competitors and to appropriately price the product to achieve the maximum demand, in order to set up the dynamics of its competitive strategy (David, 2007). The competitive strategy of a company is also expected to offer better products or services to its customers, at a reasonable cost. Due to the mass influence of the external environmental on the customers’ preference, it is vital for the company to develop an available competitive strategy to be able to solve a series of problems, and ultimately to improve the company’s performance. Those problems include: how to differentiate its products or service from competitors, how to create market segments to maximize demands, and how to offer a wider range of products or services to better meet the customers’ needs at more acceptable costs (David, 2007).

In my opinion the threat to new entry into this industry is low. I say it is low because it will require a high amount of capital in order to get established in the industry. Furthermore it takes a lot of resources, innovation, financing and marketing in order to maintain your company so it cab be able to compete with the juggernauts of the industry. The knowledge of this would deter many companies from trying to enter the industry. Thus diminishing

6. What are the strengths and weaknesses of Coach Inc.? What competencies and capabilities does it have that its chief rivals don’t have? What new market opportunities does Coach have? What threats do you see to the company’s future well being?

Who are the companies or brands with which the organization or brand competes? What are their sales and market share trends? How do their approaches to the market differ from the organizations, and from each other? Are there any specific weaknesses in any competitors that can be turned into opportunities? Are there any specific strength that are major threats? What adjustments have been made? Succeeded or not? What other changes are being contemplated? Why?

     A businesses environment creates many opportunities as well as problems for prospering businesses. The environment determines what a business can do by shaping and channeling its development. Businesses function within an environment by allowing entrepreneurs to raise capital and create profits freely. The supply of money available within a business as well as the economic stability through times of growth and recession have strong effects on businesses. Not only is the physical environment, including natural resources, pollution and energy as discussed previously, important, but many other