Business – 6.1 External influences – Competitors and suppliers | e-Consult
6.1 External influences – Competitors and suppliers (1 questions)
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SWOT analysis (competitive focus):
| Strengths | Strong brand reputation; efficient supply chain; loyal customer base. |
| Weaknesses | Limited product range; higher production costs than Competitor A. |
| Opportunities | Emerging market segments; potential for digital sales channels; partnership with tech firms. |
| Threats | Aggressive price cuts by Competitor B; rapid innovation by Competitor A; regulatory changes. |
Suggested strategic decisions:
- Product differentiation: Invest in R&D to expand the product range with unique features that address unmet customer needs, reducing price‑sensitivity.
- Cost leadership through operational efficiency: Streamline the supply chain and adopt lean manufacturing to lower production costs, enabling competitive pricing without sacrificing margins.