Introduction to OzCo Boats
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Strengths · The OzCo Boats Company has extremely huge presence in the entire globe · The goodwill of the firm is effective in nature · The staffs are experienced in nature · The firm sells different kinds of products which are luxurious in nature (Flora, Schooler and Pierson 2018) |
Weaknesses · The management of OzCo does not have any kind of experience for dealing with the different overseas market across the various countries · The company uses the different kinds of outdated kind of technologies for the designing the different boats which are not preferred in nature · The employee’s morale is decreasing in nature as the main concern is due to the conditions of the market along with the strict regulations of Australian government (Domegan and Hastings 2017) |
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Opportunities · The company can gain huge opportunity in form of the different customers who are passionate about the different luxurious and traditional kinds of boats · There are various kinds of legislations of the overseas governments which will support the different old models of the company which is legal for some years (Kotler and Armstrong 2015) |
Threats · The different kinds of technological advancements which are being utilised by the respective boat company are utilized by the various rivals in the entire market can result in threat as this will shift the entire focus of the customers towards them · There are various kinds of substitutes available in the market which will be increasing threat to the OzCo Boat Company · The new entrants are using the different technological advancements which are used in building the boats and this will directly affect the sales of the OzCo Boat Company in a negative manner (Goworek, McGoldrick and McGoldrick 2015) · The major threat of imposing legislations by the government of Australia can result in the stoppage of the preparing and trading of the different boats of the traditional procedures (Rivera 2017) |
The SWOT analysis has helped in analysing the different kinds of opportunities and threats which are required to be adopted which will help in managing the same. The external environmental analysis will be helpful in managing the different external threats and opportunities:
Threats
From the above, this can be analysed that there are various types of threats of the OzCo Boats as there are different other technologically advanced boat builders in the entire market. The OzCo Boats Company is one of the small competitors in the market and they are not able to perform in an efficient manner in comparison to the other competitors. The other technologically advanced companies of boat in the entire competitive market is a huge threat for OzCo Boats Company (Domegan and Hastings 2017).
Moreover, this can be seen that the OzCo Boats Company has more threats than the different opportunities and due to the different kinds of threats, the other competitors are trying to close the small competitors in the market and liquidate the different assets as well. Additionally, this can be seen and analysed that the different kinds of legislations of the government is affecting the overall market share of OzCo Boats Company and this will be a huge trouble for the company in a negative manner (Lees-Marshment 2014).
Opportunities
There are various kinds of opportunities for OzCo Boats Company in which this can be seen and noticed that this helped in gaining competitive advantage in the entire market (Serrat 2017). On a brighter note, this can be analysed that the government has included different kinds of rules and regulations on the traditional type of boats, in this scenario, the OzCo Boats Company has the actual opportunity to create the different new models of boats with proper implementation of the different kinds of innovative procedures in an appropriate manner (Tanner and Raymond 2015). Additionally, the OzCo Boats Company has other opportunity wherein there will be current development of the new kinds of products which will be legal in the future as well.
From the above, after the entire analysis of the different kinds of strengths, weaknesses, opportunities and threats, this can be recommended that there are different kinds of strategies which will be helpful for the company in gaining competitive advantage. There are alternative growth strategies of the OzCo Boats. With the help of the Ansoff’s matrix, this will be helpful in focusing more on the potential kinds of products in the entire market. As per the respective strategy, the respective OzCo Company utilizes the strategy of market development which is the part of the Ansoff’s matrix. With the respective strategy, this will be helpful for the organization to enter into the different markets which are new in nature with the help of the different existing kinds of products.
There are different kinds of difficulties regarding the actual experience of continuing the business effectively in the entire overseas market, however the same can be reduced with providing proper training and development of the employees. Furthermore, the organization will be enjoying the legislation benefits of the overseas government wherein they can create a new base of customers with the unique kind of luxurious technology and changing the traditional products in an efficient manner. Furthermore, the respective market development strategy will be helpful in reducing the different threats of the various new entrants in the market as this will assist the organization in the existing market and this will be helpful in enjoying the different privileges of the goodwill in an efficient manner.
Additionally, when the company OzCo Boats will be able to analyse their activities and they will be accepted in the new market, then the company can adopt the new technologies along with innovative kind of strategies for the development of the product along with market penetration as well. However, on the other hand if the respective organization do not want to enter into the new kind of market, then it can be recommended that the company can follow the market penetration strategy and this will help the company in increasing their profitability in an appropriate and efficient manner. There are different kinds of technical changes which can be adopted in the process of manufacturing which will be helpful in managing the changes effectively.
References
Domegan, C. and Hastings, G., 2017. Social marketing principles. In Social Marketing (pp. 26-51). Routledge.
Flora, J.A., Schooler, C. and Pierson, R.M., 2018. Effective health promotion among communities of color: The potential of social marketing. In Social Marketing (pp. 353-373). Psychology Press.
Goworek, H., McGoldrick, P.J. and McGoldrick, P.J., 2015. Retail marketing management: Principles and practice. Harlow, UK: Pearson.
Kotler, P. and Armstrong, G., 2015. Marketing Principles: Global and South African Perspectives.
Lees-Marshment, J., 2014. Political marketing: Principles and applications. Routledge. Rivera, J., 2017. Marketing Principles.
Serrat, O., 2017. The future of social marketing. In Knowledge solutions (pp. 119-128). Springer, Singapore.
Tanner, J. and Raymond, M., 2015. Principles of marketing. University of Minnesota Libraries Publishing.
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