Runners World Swot Analysis

854 words - 3 pages

IntroductionSue Koenig, a nationally ranked runner, faces some difficult decisions ahead. Her business, Runners World, has made a very good return on investment in the last ten years, but has recently seen sales flatten out for several reasons. Changes in consumer taste, choices, expectations, life style and increased competition have slowed the growth of a once thriving business. The paper will review the options Sue has and make recommendations for changes in her business. This can best be done in identifying and analyzing the Strengths, Weaknesses, Opportunities, and Threats (SWOT) of the current business aspects. . Fundamentally, Sue must evaluate whether the company is strong enough to withstand changes in product and procedures. There is still a large enough market locally for a change. This SWOT analysis will also help determine future market strategy.StrengthsBranded productKnowledge of runners needsReturn customersCapitalThe business must first look internally at its own strength. Its primary strength is being a major authorized Nike dealer. Nike; is a brand product and known worldwide by their "swoosh" logo and quality product, it takes little effort to promote the product. Nor does it require a large expense to advertise Nike, as product reputation does that function. An additional strength is Sue herself, being a nationally ranked runner herself, validates her endorsement of the companies product line. . In past ten years she has built a loyal customer base primarily of serious runners, and continues to net a reasonable profit and has sufficient operating capital to make some modifications where considered necessary. Finally, Sue has the foresight of being a successful woman to plan for her company's future.WeaknessesSingle branded productReduction of target marketConsumer changesTrainingAs consumers tastes have changed, Sue knows the time is right to minimize her business weakness as much as possible. Because she is devoted to running and feels that she has something special to offer she hope that the weakness can be offset by her strengths and comprehension of running. One weakness is the single product line; while on one hand it is a strength, a single product line is also is balanced as a weakness. The best way for Sue to overcome this weakness is to diversify and broaden her overall product selection, without losing her current customer base. She must consider the next weakness that there could be a loss of her current target market while she reclaims her niche. Another weakness stems from the changing of the customers her business built during jogging years, needs to find more products that cater to the taste and lifestyles that consumer's interest have...

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