It is important to conduct a SWOT analysis as it relates to the growth and success of a business. With the help of SWOT analysis, a business is able to uncover opportunities available for its exploita...
It is important to conduct a SWOT analysis as it relates to the growth and success of a business. With the help of SWOT analysis, a business is able to uncover opportunities available for its exploitation. Consequently, undertaking a SWOT analysis for Bubble Crush will facilitate an understanding of the business and enable it to take business decisions that will eliminate weaknesses and threats. As such, Bubble Crush can design a strategy that will differentiate the business from its competitors and thus enable the company to succeed in the beverage business at Monterey Park.
SWOT Analysis for Bubble Crush
The strengths of Bubble Crush refer to the characteristics that give the business competitive edge over its competitors. The strengths also distinguish the business from the other brands and attract customers to its products or services. On the other hand, weaknesses prevent the organization from performing at its optimal level. On the whole, the strengths and weaknesses belong to internal factors that are unique to a business. Contrariwise, opportunities and threats relate to external factors of a business. Under the right conditions, the factors affect the business success and influence its ability to achieve the set goals. The table below summarizes the SWOT analysis of Bubble Crush:
Internal
Strengths
Weaknesses
·
· High-quality fresh drinks;
· Competitive prices;
· Larger cup sizes.
· Small-size firm;
· Inadequate parking;
· Supply chain limitations.
External
Opportunities
Threats
·
· Changing consumer behavior;
· Availability of home consumers;
· Brand expansion.
· Consumer consciousness about health;
· Availability of raw materials;
· Competition.
Strengths
Bubble Crush has specialized in making high-quality drinks by using fresh fruit. The specialization rhymes well with the market needs as customers, due to behavioral changes, prefer freshly made drinks. On the other hand, the store offers competitive prices for its drinks. Furthermore, the store offers larger cups that differentiate it from its competitors, such as Tan-Cha. These trends fit in with the customers’ demand for cheap but quality products. Resultantly, it has affected the annual growth of the business in the past two years. The store has also diversified in the variety of drinks offered, such as mocha, what meets the current needs of individuals regarding a wider selection of drinks.
Weaknesses
The major weakness of Bubble Crush is its small size and inadequate parking space. These factors cause problems especially during peak seasons when the brand has offers. However, the store faces supply shortage when they introduce new drinks. It is problematic as the store introduces new menu items during seasonal changes.
Opportunities
Over the past two years, there has been an increase in health awareness. As such, more teenagers have begun buying tea, thus providing more customers for the business. Consequently, Bubble Crush will need to add floor space for the business in order to meet the needs of multiple schools and businesses located in the vicinity. Furthermore, the business has multiple consumers who buy drinks to consume at home. The store can thus organize home delivery services or open additional outlets in order to meet such clients’ needs. Thus, it will increase market share in areas situated further away from the store, such as Pasadena, West Covina, and Downtown LA. The brand also needs to boost its current increase in customer base by diversifying the available brands as well as increasing promotions and customer reward systems in order to build on customer loyalty.
Threats
The major threat for Bubble Crush centers on the increased health-conscious nature of consumers. Consequently, customers check on issues, such as sugar content and freshness of fruit used. It has increased production costs to meet customers’ health needs. Furthermore, the supply of raw materials has not increased at the same rate as demand, which may be problematic in meeting the demand for drinks. The store also faces major competition from the other stores offering similar services, especially with stores having more financial capabilities.
In conclusion, Bubble Crush needs to capitalize on its strengths and opportunities in order to create a niche in the drinks industry. Furthermore, it needs to minimize weaknesses and eliminate or control threats that characterize the market. This strategy will enable Bubble Crush to succeed in the industry.
Excerpt from the dissertation by the chief manager of the Faculty of International Business and Management and a philologist https://essaywritingstore.com/ Martin Wilson
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