Non Stop Yacht Essay

815 words - 3 pages

I have discovered two major issues that Non Stop Yacht S.L. will have to deal with. These issues are:* The financial projections are set too high* We have more attention focused on web-based customers instead of direct/walk-in customersThe reasons for these issues are:* By focusing just on web-based customers leaves the direct/walk-in customers available to the competition. We need to tap into both the web and direct customer market to be able to meet financial projections* Sales will not be able to have sufficient increases without an emphasis on gaining direct customers* There is not enough locations to gain a sufficient direct/walk-in customer baseThere are two frames of reference that are most relevant to the issues of NSY.* Technical- Digress away from the web-based customers to better expand business and increase sales.* Marketing- There will need to be additional marketing methods introduced to compliment the walk in locations. These will draw the in-store customer base that will be needed to successfully increase the direct customer base.There was a need to perform a SWOT analysis in order to find alternatives to the issues that I stated above.Strengths- Mega Yacht E-Commerce and competition intensity is low- Provide captains and crew with information and the ability to shop online for parts and services- High potential for growth- Provide specially made and rare parts- Large network of suppliers- Efficient buying and shipping processWeaknesses- Need to build direct/walk-in customer base- Failed to reach sales forecast in the second year and has yet to break even- Low cash flow- Unattractive website- No brand recognitionOpportunities- Sign agreement with Palmer Johnson or National Marine- Growth through repair and refit yards and dealing direct to yachts- Marketing to customers directly providing a higher profit margin- Marketing strategy to build image and knowledge of website for customersThreats- Competition may obtain majority of direct/walk-in customer base- E-Commerce competition intensity could increase- Expenses incurred when opening new stores- Vertical integration by major yacht builders into the market- Increase in standardization and consolidation of suppliersThis analysis presented three major alternatives that can possibly fix the issues that NSY currently have.Alternative#1: Add walk in locations to expand direct dealings with customersPros- Increase in sales making sales forecasts attainable- Obtain a stronger customer base- A very high potential for growthCons- Increase costs due to construction costs and added wages- Require modifications to current business...

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