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Surfside Swot Analysis

Autor:   •  March 25, 2018  •  Case Study  •  2,862 Words (12 Pages)  •  186 Views

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Exhibit 1: SWOT Analysis

Strength

Respected reputation in the company.

Winning the Reader’s Choice Award from 1998-2004.

Customers value high quality products and professional service and would often return.

Customers are 35-55 married professionals.

Consumers value high quality products and professional service.

Weakness

Has a low-budget method of advertising.

Offers two brands: Jacuzzi and Pacific

Difficult to keep skilled and knowledgeable salespersons.

Merchandise of the store

Consumers would shop around before purchasing a hot tub/Jacuzzi

Other promotions have generated customer traffic and sales but wasn’t effective with the hot tub division.

Opportunities

No to minimal advertising

Not only high-income consumers but one income level consumers would purchase hot tubs.

Three categories of consumers: price sensitive, quality conscious, and dealer/brand loyal.

Benefits of hot tubs: therapeutic and stress relief

Add-on value for homes.

Word of mouth advertising.

How to implement a pricing strategy that will capture all levels of income consumers.  

How to target current customer base to motivate them to invest in a value added investment.

How to implement an effective marketing strategy that will bring potential consumers into the store.

How to improve the store merchandising to help increase revenue.

How to hire and maintain knowledgeable and skilled sales associates.

Threats

Increased competition in the Newmarket area, from big box retailers to conglomerate stores.

Many indirect competitors that family business are struggling to survive

Weather change which decreased sales

Hot tub division is critical to maintain in the market.

How to increase brand awareness to stay competitive in the market.

How to capture sales even in off-seasons.

How to market the company as a high quality product store with unique customer service.

How to provide more variety of products to stay competitive with the increasing competition.

Conclusion: Based on the SWOT Analysis, Surfside Leisurescapes would need to implement marketing strategies and promotional events in order to capture new sales from the three categories of hot tub consumers. Surfside would need to have a sales team that are highly skilled and knowledgeable in the hot tub industry in order to stay competitive in the market.

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