Final Paper Abby
kimdevore
AbbyDavisweek3.docx5
Company Description and SWOT Analysis
Abby Davis
Strayer University
Professor: Andrea Banto
Strategic Management
April 22, 2022
Company Description
The name of the selected company is Balance Body Snacks. The company provides fast food products and services following the healthcare regulations and laws provided by state and federal governments. The aim is to consider the health status after consuming the company’s products. The company’s products are distinctive from other companies’ items in that they are based on specific nutrients components. In other words, the company’s food products do not contain too much of one nutrient like fats that might accumulate in an individual’s body to cause cholesterol-related diseases. The fundamental food items that drive the company’s sales are fruit snacks packed with substances that support body balance to achieve an alkaline state. The food products include watermelon, papaya, mango and other ingredients such as tofu, egg whites, soy and yogurt to spice the package. The company also offer online services where customers can order door-step delivery services. Apart from being food snacks, the products are body enhancers as they boost a better health status of the consumers.
Mission Statement
The entity’s mission is “helping to keep the body in an alkaline state and reducing the risk of getting a chronic illness.” It operates under its primary core values, including honesty, accountability, customer commitment, and integrity. It has incorporated the values into its culture that employees use as the guidelines in their workplace. The organization also operates by prioritizing the general health implications that its food products can cause to its consumers. The management understands that fast food is a vital product that can directly influence or cause health hazards to its consumers. It ensures all precautions, including general hygiene, are observed when preparing the food for its consumers.
The Industry Analysis
The food industry is a rapidly growing market with significant changes over time. Based on the recent reports, the industry’s revenue will reach $3.2 trillion globally in 2021. It is anticipated to grow to $7 trillion by the end of 2022. The industry is not predictable as it follows the taste of consumers’ needs. Like many sectors, the food industry experienced a substantial hit by the recent covid-19 pandemic due to the implications of the lockdown that followed after it was first reported (Occhiogrosso, 3). As many sectors try to recover from losses incurred in 2020, the fast-food industry is among the sectors with the potential for quick recovery. Given the need for healthier food products during the pandemic, the entity’s food items have increased the demand rate in the market, forcing the company to increase its production rate.
Following the pandemic, the industry has significantly embraced technologies in its operations to increase the efficiency and quality of products and services the companies offer to the consumers. Innovative apps, third-party ordering and online ordering services are examples of technologies that many fast food entities have embraced in the contemporary world. The major concerns for home delivery services have remained the industry’s trust to handle food items, delivery approaches adopted by different fast food stores and the contactless demands of transactions. The high market demands have also forced the companies in the industry to adopt new technologies to increase the production rate to curb the gap in the market.
Strategic Positioning Approach
The best strategic position approach for the company is positioning based on product characteristics or benefits. The method is the most considerable as it will help associate the business brand with the healthcare benefits it offers to its consumers (Hopper, 1). The entity’s products are characterized by healthy supplements the customers consume to boost their health status and prevent them from illnesses related to food consumption. The management will implement the strategy by identifying and evaluating its suppliers’ quality before inquiring about the products. Selecting suppliers with quality products will enable the entity to achieve its positioning strategy.
Distribution Channels
The primary distribution channel for the company in direct selling. It involves selling the food products to the customer directly without engaging other intermediaries. The company will produce and sell its products directly to its consumers to retain the brand’s quality and purpose (Singh et al., 2). In essence, different approaches involving intermediaries along the distribution channel stand the risk of quality distortion in their products. However, dealing with the distribution process will enable the company to retain the quality and purpose of its food products to the consumers. The questions will revolve around the alteration of food quality in the distribution process. The entity will also sell its products in the grocery store as it involves fast-food services. The majority of its target customers are the middle audience who work in the urban centers and have no time to prepare for morning breakfast and lunch.
SWOT Analysis
|
Strengths 1. Fruity taste attraction 2. The store location is at the center of grocery store and a fitness center 3. Shelf life or promoting a good health to individuals 4. Has over 2 million social media followers |
Weaknesses 1. Lack of its presence across many parts of the country and globally 2. Higher production cost that results into high prices 3. Lack distinctive choice of flavors due to inexperienced workforce 4. Not on the shelves of national health food stores |
|
Opportunities 1. The high demand rate in the fruity products for healthcare purposes 2. The rapid growing market that provide ready market for the company’s expansion 3. increased rate of online potential customers who will increase its customer’s base across the country and the global market 4. Provision of alternative fast-food products that is different from fatty-related products like fryers. |
Threats 1.Competitors selling at lower price 2. a decline in customers 3. slow to pivot to other products 4. Patent on product pending |
References
1.Hopper D. (2020). Positioning: 5 Strategies to Stand Out From Your Competitors. Retrieved from;
2.Singh, G., Slack, N., Sharma, S., Mudaliar, K., Narayan, S., Kaur, R., & Sharma, K. U. (2021). Antecedents involved in developing fast-food restaurant customer loyalty. The TQM Journal.
3.Occhiogrosso G. (2022). Trends Affecting The Restaurant Industry In 2022. Retrieved from;
