Imagine you own a small gift shop in a popular but remote tourist location. You

Question

Imagine you own a small gift shop in a popular but remote tourist location. You want to develop an effective marketing strategy to expand your business during the next two years, and have decided to conduct a SWOT analysis. Consider the situation factors listed below, and “drag & drop” (highlight to select, and then cut and paste) them into the appropriate section of the SWOT analysis grid:

Strengths

Weaknesses

Opportunities

Threats

·       You have especially good relationships with many suppliers due to your years in business and your success.

·       Your business is in a location that is easy to get into and out of.

·       It is difficult to hire workers with retail experience in the area.

·       Wal-Mart moves into a town a few miles away.

·       The price of gas goes up.

·       The highway that they have been talking about for years is finally being built.

·       The Post Office decides to cut deliveries on Saturday.

·       You are dependent upon a few artists to keep you in stock.

·       You have developed a software system that makes online orders extremely easy.

·       Another gift shop may open next door.

·       Two new hotels are scheduled for opening next year.

Then, examining the entire SWOT analysis, recommend at least 3 marketing actions you could take to ensure the success of your shop and explain why you believe they will work.

Strengths

Weaknesses

Opportunities

Threats

Explanation / Answer

Strengths - You have especially good relationships with many suppliers due to your years in business and your success.

Your business is in a location that is easy to get into and out of.

Weakness - It is difficult to hire workers with retail experience in the area.

You are dependent upon a few artists to keep you in stock.

Opportunities - The highway that they have been talking about for years is finally being built.

You have developed a software system that makes online orders extremely easy.

Two new hotels are scheduled for opening next year.

Threats -  Wal-Mart moves into a town a few miles away.

The price of gas goes up.

The Post Office decides to cut deliveries on Saturday.

Another gift shop may open next door.

After the analysis of the SWOT it can be stated that in the next few years or so, the organization will experience some intense competition as there are some new shops opening in the location and therefore the organization needs to promote their business in order to have a competitive advantage over the others, I believe that the situation may get tough with time but as the organization is there for quite some years it wont be much of an issue. The shop needs to be made better and effective through expansion and proper pricing strategy as they would have to be in the industry with walmart. The products collection should be increased so that they reach out to the mass of the population and ensure they do not lose out on potential business.

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