Hometown Case Study, Stage 1

1542 Words7 Pages
HomeTown Deli Business Environment Analysis Strategic Planning to Bring HomeTown Deli into the 21st Century. IFSM 300 IFSM 300 Business Environment Analysis Strategic direction to bring HomeTown deli to the 21st century applying Michael Porter’s Five Forces Model to HomeTown deli Since 1952, HomeTown Deli has remained a local landmark while many businesses have come and gone. Given the available technology employed by my grandfather, the business has remained strong and steady over the years. In light of his recent retirement, it is my goal to evaluate and improve the way business operates and properly identify and further elevate our standing in the community using the proven business tools developed Michael Porter called the Five Forces Model. My goal is to first analyze five areas that affect my company to help maximize the efforts to being my deli into the 21st century, successfully. The areas I will be outlining are: * Buying Power * Supply Power * Thread of Substitute Products or Services * Thread of New Entrants * Rivalry Among Existing Competitors Buying Power as it Relates to HomeTown Deli: Buying power by definition is the power customers have to create demand for an item or product. Since HomeTown Deli was not and is not geared towards a specific client base or high end customers, the buying power is limited because the product we serve (as a whole) cannot be considered a standard that is readily available by any other deli or shop in our demographic area. Therefore the marketing strategy should be to build on our community ties and loyal customers with direct marketing as suggested in the book Strategic Management Theory: An Integrated Approach (9th Edition). Supplier Power as it Relates to HomeTown Deli: The suppliers are the companies that provide businesses the products and materials they need to run a

More about Hometown Case Study, Stage 1

Open Document