Swot Analysis Runners World
Introduction
Sue Koenig, a nationally ranked runner, faces some difficult decisions ahead. Her business, Runners World, has made a very good return on investment in the last ten years, but has recently seen sales flatten out for several reasons. Changes in consumer taste, choices, expectations, life style and increased competition have slowed the growth of a once thriving business. The paper will review the options Sue has and make recommendations for changes in her business. This can best be done in identifying and analyzing the Strengths, Weaknesses, Opportunities, and Threats (SWOT) of the current business aspects. . Fundamentally, Sue must evaluate whether the company is strong enough to withstand changes in product and procedures. There is still a large enough market locally for a change. This SWOT analysis will also help determine future market strategy.
Strengths
Branded product
Knowledge of runners needs
Return customers
Capital
The business must first look internally at its own strength. Its primary strength is being a major authorized Nike dealer. Nike; is a brand product and known worldwide by their "swoosh" logo and quality product, it takes little effort to promote the product. Nor does it require a large expense to advertise Nike, as product …show more content…
She must recognize the need to utilize her strengths with the opportunities to continue with focus and competitive advantage. Her first opportunity is to increase her product line to interest more consumers. Nike swoosh still has the power and has recently pushed into sports equipment, along with sports apparel and shoes Sue can increase her product line as well with the expanded product of Nike. A second opportunity is to increase her product diversification, continuing to sell Nike products is important, but there is and opportunity to increase and change the target market with additional brand names in the her
Sue Koenig, a nationally ranked runner, faces some difficult decisions ahead. Her business, Runners World, has made a very good return on investment in the last ten years, but has recently seen sales flatten out for several reasons. Changes in consumer taste, choices, expectations, life style and increased competition have slowed the growth of a once thriving business. The paper will review the options Sue has and make recommendations for changes in her business. This can best be done in identifying and analyzing the Strengths, Weaknesses, Opportunities, and Threats (SWOT) of the current business aspects. . Fundamentally, Sue must evaluate whether the company is strong enough to withstand changes in product and procedures. There is still a large enough market locally for a change. This SWOT analysis will also help determine future market strategy.
Strengths
Branded product
Knowledge of runners needs
Return customers
Capital
The business must first look internally at its own strength. Its primary strength is being a major authorized Nike dealer. Nike; is a brand product and known worldwide by their "swoosh" logo and quality product, it takes little effort to promote the product. Nor does it require a large expense to advertise Nike, as product …show more content…
She must recognize the need to utilize her strengths with the opportunities to continue with focus and competitive advantage. Her first opportunity is to increase her product line to interest more consumers. Nike swoosh still has the power and has recently pushed into sports equipment, along with sports apparel and shoes Sue can increase her product line as well with the expanded product of Nike. A second opportunity is to increase her product diversification, continuing to sell Nike products is important, but there is and opportunity to increase and change the target market with additional brand names in the her