The paper "Impact of Business Model Design " is a wonderful example of a Management Assignment. The following is the PROTECTA’ s SWOT Analysis presenting information on the strengths, weaknesses, opportunities, and threats: The following are some of the strengths associated with PROTECTA’ s products and operations/activities: Expertise and skills – PROTECTA understand the importance of training and developing the skills of the employees (Liu & Picard, 2014). The management has implemented numerous measures including responsive recruitment, encouraging learning organization fundamentals, and ensuring the employees collaborate towards fulfilling the requirements of the organization (Mehmood, Hassannezhad & Abbas, 2014).
The employed individuals have to have certain skills and capacities, which contributes teamwork and efficiency at the workplace. In advancing the position of the employees, compensation and employee policies address the emerging employees’ requirement resulting in an effective team (Weng & Lin, 2014). Innovation products that are unique to the market – PROTECTA has been relying on imports but has continuously developed frameworks to support develops its own products resulting in a brand called “ QUAD. ” The product has four headphones whereby two people can listen to music at the same time.
The variety of QUAD products provides four options, which are wired over-ear headphones, wireless over-ear headphones, wired in-ear headphones, and wireless in-ear headphones. These products provide customers with unique preferences meaning it may attract more customers. Apart from the headphones, additional unique features advancing both Internet connectivity and listening to music have been incorporated into the system (Weng & Lin, 2014). These innovative and creative features provide an added and competitive advantage to PROTECTA’ s products and services. Effective strategies resulting in cost saving and return on investments – PROTECTA has continuously implemented numerous measures ensuring the costs are minimized to increase revenues (Liu & Picard, 2014).
The current approach of distributors and retailers is been phased out while online based approaches are been emphasized (Mehmood, Hassannezhad & Abbas, 2014). The purpose is to increase the margins and transferring these benefits to the customers; for example, fewer entities would handle the product meaning more savings are made, which is shared between the organization and customers. It results in competitive pricing while returns on investment can be achieved easily.
The focus on the online approach and inclusion of technology in the different processes reduces the number of employees; hence, reduce the cost of employees such as salaries and other forms of compensation. Weaknesses Weaknesses are inherent, and the following are some of the weaknesses that PROTECTA faces: No brand loyalty – in the Smartphone accessory industry, loyalty is a major issue. The productions of these accessories are easier meaning consumers can acquire any product because there is no major difference apart from the brand name (Shieh et al. 2014). PROTECTA faces the same problems in that it operates in a competitive industry without preference for loyalty (Mehmood, Hassannezhad & Abbas, 2014).
The introduction of QUAD can change the dynamics, but the focus should be based on cultivating and championing the brand name (Weng & Lin, 2014). The aspect of loyalty can be attributed to the distribution and easiness of entrance of new products. Inefficient company procedures and processes e. g. distribution networks – the distribution networks are not efficient meaning the delivery of the products and services delays or inefficient (Scioscia et al. 2016).
The distributors and suppliers may request for the product but take longer to deliver the products. Moreover, the suppliers and distributors have numerous products whereby the selling strategy of the distributors and retailers may favor competitive products (Weng & Lin, 2014). It is advisable PROTECTA implements an effective supply chain framework to ensure the products are delivered within the specified times and engagement with the distributors/retailers to improve the processes and procedures. Unresponsive strategies to reflect the market dynamics – the design and introduction of the QUAD product would change the market dynamics, but the decision came after the company faces a decline in market share (Liu & Picard, 2014).
Introducing the new product is appropriate, but the change is ineffective in that it took longer (Mehmood, Hassannezhad & Abbas, 2014). It means PROTECTA did not study the market to ensure new products or changes implemented at the opportune time. Opportunities PROTECTA should understand there are numerous opportunities and should capitalize on these opportunities to increase market share and revenues. The following are some of the opportunities: Growing market – the population is increasing, and the awareness of social media and the need to listen to music is increasing.
People also want to share music and listen at the same time to music (Mehmood, Hassannezhad & Abbas, 2014). QUAD technology allows two individuals to listen to music at the same time. These individuals can also watch videos and other social-related interesting news (Scioscia et al. 2016). The growing population also means the demand would increase due to replacement and changing tests of the consumers (Liu & Picard, 2014). Therefore, PROTECTA can benefit due to the changing population and the potential to export the products to other regions and countries. Increased consumer spending – availability of disposable income is important because consumers can acquire products easily (Shieh et al.
2014). The improvement in economic position, stability, and increased employment opportunities contribute to increased consumer spending. New means of advertising and marketing – the engagement and reaching the customers continue to become easier. The availability of social media and modern means of communication has reduced reliance on the traditional methods of marketing. PROTECTA can create a message online resulting in a viral approach in which more people can read or access the message.
The modern methods of advertising and marketing are cheap meaning the costs allocated to marketing services are reduced (Scioscia et al. 2016). Since the targeted audiences are the young families and young consumers, these consumers frequent social media meaning creating a message targeting social media is important in addition to the website (Mehmood, Hassannezhad & Abbas, 2014). PROTECTA has to ensure its messages and products are accessible online and different devices such as mobile technologies can be used to access the information and influence consumer behavior in regards to decision making. Threats In a market place, numerous issues and complications exist.
PROTECTA faces similar problems, and the following are some of the threats that PROTECTA face: Competitors – competition is inherent in the technological world. It is estimated that new products are introduced into the market daily meaning PROTECTA has to understand the importance of innovation and creativity. The moment PROTECTA introduces the QUAD technology; more producers can copy the approach resulting in the uncontrolled production of the headphones.
Competitors may also introduce a completely different product that becomes competitive to PROTECTA PROTECTA has to formulate and implement strategies that translate to competitive advantage while countering the threats from competitors. Government policies such as taxation and banning some business activities – the government plays an important role in defining the policy framework that may affect the business and related operations (Shieh et al. 2014). For example, the government may introduce a taxation system that increases the cost of operations or reduces the incomes to the consumers (Mehmood, Hassannezhad & Abbas, 2014).
An increase in taxation that targets consumers to translate to decreased consumer spending, which may affect PROTECTA sales. The government may also ban certain business activities or importation of raw materials, which could affect the production capability of PROTECTA (Scioscia et al. 2016). However, if the government is supportive of legislation and other standardization requirements, PROTECTA can easily succeed in its operations (Ghezzi et al. 2015). Without effective collaboration and partnership with the government, the chances of negative business activities increases, which becomes a threat to PROTECTA. Changing consumer tastes that may mean the PROTECTA products become less appealing to the target market – QUAD is a new product in the market and has not been tested.
Chances exist whereby the customers may like the product or oppose the product (Kaur & Malhotra, 2016). When consumers like the product, sales increase which creates a positive outcome for the company (Scioscia et al. 2016). However, when the customers oppose the product, PROTECTA would continue facing the economic and business challenges that it is currently facing. The future of PROTECTA depends on the new product, and the poor reception of the new product may “ kill” PROTECTA as an organization. Objectives The following are the PROTECTA’ s marketing objectives: Increase the number of sales by 10% within the next six months Create customer awareness by increasing the number of customers seeking information about the brand by 20% in the next three months Increase website traffic by 50% within the next six months based on the previous one-year estimates of website traffic visits
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