- What opportunities do we see based on SWOT analysis of the current market?
The opportunities we see in the current market based on SWOT analysis are;
>Cost-cutting consultant
>Freelance writing
>Food truck
>Social media specialists
>Website designer
>Uber Driver
>Career coach
>IT contractor
- Are these opportunities based on existing offerings or future potential?
These opportunities are based on existing offerings because they already exist in the current market, for example, freelance writing and Uber driving.
- What strengths can leverage, and what risks do we need to manage to make this happen.
The strengths that can leverage the current market are;
>Well-built employees attitude
>Outstanding customer service
>Large market share
>Low manufacturing costs
>Personal relationship with customers
The risks we need to manage are;
>Inflation risks
>Risks of losses
>Liquidity risk and risk to invest in the stock market.
- Which Ansoff (growth) strategy fits this situation the best? Why?
Market development Ansoff fits this situation the best because it focuses on entering a new market using existing products.
- What volume or value issues do we need to make this strategy works? Why?
The value issues needed are; marketing knowledge, customer desire, effective customer services, and good communication. These issues are needed because of changes in consumer’s tastes, which will make companies add flavor to increase market share.
Reference
Piccinini, G. (2018). New horizons and strategic implications from the digital transformation revolution.