Situation Analysis
SWOT Analysis of Snuggy Uggys Pty Ltd
Strengths
The company in the domestic area does better than competitors:
Provides wide range of ugg boots styles and colours
Comfort and quality product
Meeting customer needs
Brand recognition- Uggy's original product
Weaknesses
The company in the domestic area done not as well as competitors:
The company has been operating for the past 15 years is yet in a maturity phase, but has not expanded into global business and thus is considered in an establishment phase.
Opportunities
The company has the possibility of:
Expanding the company into global markets
Strong sales growth
Develop new products
Favourable oversea government regulations
Developing further e-commerce operations
Increased sales
Global branding
Threats
When expanding the company to the United States, Snuggy Uggys may face:
Entry of new competitors
Adverse oversea government regulations
Increasing interest rates
Further falls in the Australian dollar resulting poor export sales and profits
Slow market growth
Establishing marketing objectives
In order for the company expansion to the United States we suggest that Snuggy Uggys Pty Ltd will achieve the following:
- Progressively increase market share by 10 per cent over the next 3 months
- Extending warranties on materials and workmanship of ugg boots to maximise customer service
- More profits made over the next 6 months
- Increase the product range or mix through the introduction of new styles within 6 months
- Increase exports by 10 per cent per year
Marketing strategies
Market Segmentation and Identifying the Target Market
In most cases, the consumer market is very large and businesses cannot appeal to all buyers due to people with different needs and buying behaviours.
Considering Snuggy Uggys Pty Ltd expansion to the United States, the company should think of market segmentation. The ultimate aim of market segmentation is to...