Environmental scan and swot analysis, Microeconomics

Assignment Help:

Environmental Scan

SWOT analysis: SWOT analysis will help to describe about the strengths, weakness, opportunities as well as threats.

This is the strategic planning method and it helps to evaluate the internal as well as external environment accordingly.

Strengths: The major strengths of the business will be identified with the characteristics and advantage of the company. This is internal structure of the business. The major strength of the company is that they provide personal training sessions to the participants. Thus there are other important strengths such as:

  • They provide affordable, convenient and enjoyable programs to their trainees.
  • They provide training to meet the fitness facilities for their client requirements.
  • The company have highly organized and highly qualified and expert trainers to provide fitness services.
  • They have one in one in home training programs for their customers.
  • High quality and comfortability are the major focus of the company.
  • They generate more than 120 new clients every month and continue with retaining more than 30 previous clients every month.
  • They also apply developed and sustainable lifestyle changes.
  • They provide unique differentiated and low pricing strategy to gain the position of market leader.

Weakness: This determines the disadvantages and risks of the business. This is the internal analysis of the environment.

The company's major weaknesses are as follows:

  • Other competitors provide in-home personal needs to meet the client requirements which are the major weakness of the company.
  • There is very low expansion created by the company so, the market awareness is very low.
  • It is newly established organization, established before two years, they completed their journey.
  • They don't have their own facilities and own resources, they always take that on lease and this is a big trouble and major weakness of the company.

Opportunities: This is the external environment which helps to improve the performance in the business environment.

The opportunities for Bounce fitness is as follows:

  • The company can also provide in-home services to its clients for better purposes and this will also them to increase the huge opportunity in terms of generating more revenues and creating more profits.
  • Thus, the company could also focus on marketing and advertising activities to increase the opportunity and to lead with the business with proper strategies.

Threats: This is the parameter that helps to define the elements which causes trouble for the business.

  • Major competitors are the threat for the company known as Bounce fitness and this can be reduced with the help of increasing advantages and increasing the number of services. (Precisiongroup.com, 2012)
  • The company Bounce fitness should focus on its unique and differentiated services as compared to its competitors for better achievements and better success strategies. They need to focus on major improvements with the help of scope of new opportunities. Thus, they can reach the target market successfully.

Related Discussions:- Environmental scan and swot analysis

What is the difference between price value and price level, What is the dif...

What is the difference between price value and price level?  Price value is the value of commodity bought by the consumer at a certain price from the market, while, price level

Calculates suspicion of government , Implicit in these analyses is the fact...

Implicit in these analyses is the fact that without government we could have neither shortage nor surplus.  In large calculates, the suspicion of government is due to it has the po

Money multiplier, Should the bank not have anyone to lend the demand deposi...

Should the bank not have anyone to lend the demand deposit to (like that will ever happen) would the size of the money multiplier decrease? If so, why?

Demand and consumer, relationship between total utilities and marginal util...

relationship between total utilities and marginal utilities

Introduction to macroeconomics , a. The diagram above depicts the current p...

a. The diagram above depicts the current position of a hypothetical economy using the Keynesian Income/Expenditure approach. If national income is currently at Y1 explain why this

Consumer equullibruim, income=100 price of x=5 price of x2=10 find consumer...

income=100 price of x=5 price of x2=10 find consumer equilibrium with diagram

Marginal output, If the marginal product of labor is 45 units of output and...

If the marginal product of labor is 45 units of output and the marginal products of capital is 56 units of output while the wage rate is $20 per worker and the cost of capital is $

Price determination, illustrate and discuss the implications of various mar...

illustrate and discuss the implications of various market structures (competitive and non-competitive) for price determination

What is meant by non price competition, What is meant by non Price Competit...

What is meant by non Price Competition? In which market structure does it exist?  None price competition is an effort put by the supplier to earn extra profit without enhancing

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd