Introduction In this fast-paced growing of industries and with the intense level of competition in the global arena business firms are trying to climb the peak of global success. Threats: 1.
Experts and experienced management team — gives competitive strengths, 5. Since the global economic conditions are in itself vulnerable. Enter the hedging process to ensure supply of commodity products needed in its business, e.RMCF had design a new store concept — which was highly accepted by administration and customers, 2. Weaknesses: we have seen the strengths of the company — nonetheless as much as there are these positive factors there are also weaknesses within the company which needs to be understood to be able to revert these situations. By understanding the core need of the customer rather than what the customer is buying. Clear yourself first that on what basis you have to apply SWOT matrix. Adhere to norms and standards of the Federal agencies to regulate the packaging and distribution processes. Competitors market. There may be multiple problems that can be faced by any organization. Following points should be considered when applying SWOT to the analysis: Precise and verifiable phrases should be sued.
The Rocky Mountain Chocolate Factory, Inc, started from a medium, low-cost business, however, because of management skills founded on experience and leadership of courage and determination, the small business grows rapidly. Exchange rates fluctuations and its relation with company.
These three important points would lead us to examine possible strategies that would keep Chocolate factory compete in this fast-paced industry. Building capacities and spending money on research and development. For example services like Dropbox and Google Drive are substitute to storage hardware drives.New technologies developed by the competitor or market disruptor could be a serious threat to the industry in medium to long term future. Lower inflation rate — The low inflation rate bring more stability in the market, enable credit at lower interest rate to the customers of Rocky Mountain Chocolate Factory, Inc.. Decreasing cost of transportation because of lower shipping prices can also bring down the cost of Rocky Mountain Chocolate Factory, Inc. It has come across as a mature firm looking forward to bring out products based on tested features in the market. These forces are used to measure competition intensity and profitability of an industry and market. Needs to establish a new product — to cement quality standards. As it engrains all of these strengths it has the ability to increment its local production to 5. Conclusion Working on this case study has developed my capacity to understand why a SWOT study creates such a vision of the present condition of the business. New entrants are less likely to enter a dynamic industry where the established players such as Rocky Mountain Chocolate Factory, Inc. One important factor to consider when venturing into a global space is the global awareness of pervasive changes in different realms of reality that exists. This is a detrimental factor for future competitive prices in the local market. An issue which needs to be addressed is the accumulative voting rights. Effects of change in business regulations Timescale of legislative change.
Firstly, the introduction is written. Marketing mix includes feasibility study on products positioning, accessibility, strategic location, and store design.