Answer:
Situational actions on SWOT of a business
Explanation:
<u>Strengths</u>
- You have especially good relationships with many suppliers due to your years in business and your success.
- You have developed a software system that makes online orders extremely easy.
<u>Weaknesses</u>
You are dependent upon a few artists to keep you in stock.
<u>Opportunities</u>
Your business is in a location that is easy to get into and out of.
The highway that they have been talking about for years is finally being built.
Two new hotels are scheduled for opening next year.
<u>Threats</u>
It is difficult to hire workers with retail experience in the area.
The price of gas goes up.
Wal-Mart moves into a town a few miles away.
The Post Office decides to cut deliveries on Saturday.
Another gift shop may open next door.
Three marketing actions to ensure the success of the shop and why it will work include:
1. Expand your advertisement outreach for experienced retail workers beyond your location, with motivational packages and incentives. Alternatively, get workers around your location and train them to acquire the required retail experience for the job
2. With increase in the price of gas which affects your profit margin, and taking into cognizance your strength in cusstomer relationship, endeavour to increase your product and service outreach and turnover to mitigate for the addition expenses.
3. With the arrival of Wal-Mart as competitor, you will need to maintain consistency in products and services, as well as offer promotional packages
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