Management Principles
- Pages: 2
- Word count: 330
- Category: Management Thought
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Order Now1. Strengths: Wish You Would Toy Store was a unique toy store. Families felt the company was a place associated with family fun. The company had wooden crafted toys. They partnered with Amazon and this helped boost sales for a minute. Weakness: Companies sales were only good during times when they had a lot of vacationers otherwise the company lacked business. They could not get their internet sales to take off. They lost money because using Amazon helped them at first but in the end Amazon used the company to help identify what customers want but they would offer it at a lower price. Selling to vacationer’s limits growth. Opportunities: The Company saw a chance to gain profit and make money by partnering with Amazon. The company decided using an online site would help sell merchandise. Referring customers to social sites to talk about toys helped pick up business for the company but the only people visiting were those who vacationed where the company was located not any outsiders. Threats: The biggest threat was the company closing because they did not have the sales they needed to stay open. Another threat was Amazon later became a competitor.
2. I think by looking at this SWOT analysis the company had some good ideas to utilize internet based sales and social media, however their approach was not thought through. They later thought partnering with Amazon would help them but they soon found out Amazon was their competition. I feel the company should have stayed with social media and promoted giveaways on the page if buyers would advertise the company to their friends. I also feel they did not do enough advertising to help promote the company. When they partnered with Amazon they promoted them until they saw where they could make money and it hurt the company. If I was this company I would come up with idea on how to get my product out there with smart advertising.
