The name of the company in this essay is notonthehighstreet
Founded by Holly Tucker and Sophie Cornish in the United Kingdom mainland. The business strategy is to improve customer experience through SWOT analysis. SWOT analysis purpose is to ascertain the strengths, weaknesses, opportunities, and threats of notonthehighstreet. Thus, the main topic is the SWOT analysis that is important in measuring the progress of the business, and the company needs it to measure its performance. Hence, the company wants to ensure that its online store is progressing well by increasing sales and the checking of potential threats and opportunities. The focus of this essay is to analyze the strengths, opportunities, weaknesses, and threats of notonthehighstreet (Hayes, 2015). Therefore, the subtopics of the article will be the strengths, opportunities, weaknesses, and threats.
SWOT Analysis
Strengths
The strengths of the company are the rich online platform with the diverse customer base. Equally, the company sells unique products including gifts that are readily acceptable, and this makes its demand to be huge. Its importance lies in the constant update of the website (Hall, 1999). The reason why notonthehighstreet needs to know its strengths is to diversify its portfolio. The power means that the online collection is the cash cow for the business. Supporting evidence from the study include the statistical data from the government database on the existence of online companies (Nieuwland, 2018). Therefore, the organization must maintain its strengths.
Weaknesses
The weaknesses of the organization are the poor marketing of the site, and thus it has not reached the significant segment of the market. The company needs to know its weaknesses so that it can do aggressive marketing of its site. The acronym is related to the company in understanding its market segment. Further, the Statistical data available indicates that the company is yet to utilize its potential hence the need to do further marketing (Werbach and Hunter, 2012).
Opportunities
The opportunities available for the company is the expansion of internet connectivity and the availability of fiber optic cables. Internet and online business is the next big thing hence companies must align themselves to seize the opportunity. The author proves the argument through government initiatives in embracing information technology and the need for people to live a decent life through enjoying and partying (Hayes, 2015). Hence, the online opportunity is a plus as opposed to traditional ways of reaching out to clients.
Threats
The primary threats are an increase in the number of competitors who want to venture into online businesses. Many businesses are opening up stores on accessories, fashion, food, and drinks among others to attain the market niche. It means that the chosen company must adopt active strategies to remain in the market (Marcousé et al., 2011). The supporting evidence is examples of emerging markets that seek to attain a market niche in the industry (Werbach and Hunter, 2012). The businesses are diverse but offering the same goods and services. Research indicates that the company is very lucrative and thus the need to look for ways of remaining relevant in the market. Hence, the threat is rife thereby prompting the organization to be up to speed in updating its online platform.
Conclusion
SWOT analysis is an important tool in understanding the business strategy that the organization adopts. The essay has vividly explained the SWOT analysis of notonthehighstreet. Therefore, a sound policy must be taken for efficient progress of the business.
References
Hall, D. 1999. Business studies. New Delhi: Pearson Education India.
Hayes, J. W. 2015. Bricks " mortar oughta: what real world businesses can learn from the Internet. Perambalur: R " D Publishing.
Marcousé, I., Surridge, M., Gillespie, A., Brewer, M. and Birchall, N. 2011. Business studies for A level. London: Hodder Education.
Nieuwland, J. 2018. Careers for tech girls in E-commerce. New York: The Rosen Publishing Group, Inc.
Werbach, K., and Hunter, D. 2012. For the win: how game thinking can revolutionize your business. Philadelphia, PA: Wharton Digital Press.
