Larning College Essay

323 Words2 Pages
SWOT Analysis: Strengths - The store is located at Piney Lake, which is the favorite spot of tourists in vacations. Whenever the families visit the lake, they surely visit the store, at least for once in a trip. It captures the 100% attention of tourists due to its prime location. The store sells uniquely crafted wooden toys, which captivate the tourists and force them to purchase at least one from the display. Wooden toys are the competitive edge of the store. Higher sales potential: By collaborating with, company has ability to earn higher profits than selling at just Piney Lake. Weaknesses: Stick to just wooden toys. Poor managerial skills to manage the store website. Not technologically sound. Opportunities: Store can enter into the global market by offering wooden toys on its own virtual platform. Percentage of sales can be increased at the store by giving expansion in the product offerings. Expansion, in online customer base, can be given by offering special discount and product bundles. Threats: Many competitors are present at the virtual platform giving tight competition to the store. Product can easily be copied with certain innovation in the online market. Strategy: As per my opinion, business should not be moved further with the business partners who become competitors during the agreement period. Store should change its current approach. The basic reason behind the failure, of the store’s own website, was mismanagement and lack of knowledge of conducting the business at the virtual platform. This failure led the store to offer its products online via Amazon Platform. Wish you Wood Toy Store must adopt the following strategy: Store should develop a website and offer its entire product range to the online potential customers. Online 24/ 7 chat and phone service must be available to the customers for any assistance in purchasing or

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