|Type of paper:
|Company Management Strategy Business Development
The external factors that would impact Magnolia's ability to realize its vision are technology and rivalry. The competitors would apply new production ideas that do not demand the buyers to wait for long hours before being served. The customers would prefer them because they dislike delays as they have to attend to other duties. New players would also enter the market and provide better customer services, which affects Magnolia regarding sales.
The leading competitors are Hub Spot, Word press organization, Progress Sitefinity, and the Pantheon. The companies' operations are similar to Magnolia's, thus competing for the same buyers.
Factors Affecting Growth
The company’s growth is affected by the size and Waco’s reputation. It is small that a large number of buyers cannot be held. For example, the customers have to pay $10 for car parking, yet the company should offer space (Thompson, Strickland & Gamble, 2007). The people also have a negative reputation towards Waco, where the café is situated.
Internal Factors to Be Considered
The company needs to consider the internal factor of customer services. Currently, buyers have to wait for hours before being served. It is an issue as it would make them attracted to the competitors providing services faster. Space should also be considered to allow the buyers to park in the company eliminating the extra car parking costs. The management should also cooperate with the employees to create a better Waco image, which will also benefit the company.
Strengths and Weaknesses
Magnolia has strength in marketing, as the café is advertised in shows. A large pool of buyers is therefore attracted, leading to high sales. The founders have also invested in different areas resulting in increased profits. However, customer service is weak as the buyers have to wait for hours and pay for parking fees. The opening of silos caused traffic in Waco, which would make the customers prefer companies with convenient space.
"Behind the design' new show will represent an opportunity in the home remodeling industry. Joanna will provide insights on design strategies, decorating, and staging a home. More so, the show will include all details involved in home makeovers. The aspects improve the remodeling market as the buyers will get the chance to select their preferred designs. Innovation is also expected as the business comprehends the customers' demands and preferences.
Challenges and Threats
The challenge facing the organization is the Fixer Upper show's conclusion as it was the main driver for the café. Space is the other issue because the company is small, and the room for expansion lacks. Apart from that, there is a threat to market entry since the competition in the market is stiff, and new players' opportunities are evident.
Measures for the New Show
Advertising measures need to be taken to inform and convince the targeted population about the show. The tool used should provide all the necessary information and make the public understand its impacts on their homes. Proper strategies on its future operation should be laid to prevent misunderstanding.
Magnolia brand can succeed in the market if the weaknesses and threats are addressed. The management ought to discuss ways to ensure the strengths and competitive benefit elements would be applied to curb the challenges evident in the internal and external environment.
Thompson, A. A., Strickland, A. J., & Gamble, J. E. (2007). Crafting and executing strategy: Concepts and cases. McGraw-Hill.
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