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Swot Analysis Of The Pin Cushion

973 Words4 Pages

EXECUTIVE SUMMARY This is a five-year marketing plan for a local business “The Pin Cushion” which is a fabric store. This marketing plan was created by Sherri Falzon and Christine Luscko to secure additional funding for growth and to inform investors and/or lenders of the company’s current status and direction. The Pin Cushion has been in business for over forty years the business has shown great growth in that time. The Pin Cushion recently relocated to a larger building with opportunity for expansion. The Pin Cushion plans to explore opportunities and increase their online sales and holding classes to teach new customers how to quilt, sew or knit. The marketing environment has been very receptive to the firm’s high-quality of goods and exceptional …show more content…

The Pin Cushion has been in business over forty years and has built some impressive strengths while looking forward to new opportunities to future. The dedication of the third-generation owners, and the growing number of loyal customers. The Pin Cushion is in a good position to grow financial. However, as The Pin Cushion considers expansion to a second location, the company will have to concerned with the possibility that the new market will not recognize the company name and loss of quality of the fabric and supplies The Pin Cushion offers. As, The Pin Cushion plans for the expansion to a second location and internet sales, the owners will have to guard against competitors with duplicate products. However, building a strong relationship with their customers and their suppliers should help beat the competitors. The strengths and Opportunities are considered a leverage, whereas weakness and threats are considered a problem. In the final analysis The Pin Cushion’s strengths and threats are vulnerabilities, just as opportunities and weakness are …show more content…

The fabric market has many entries such as, Wal-Mart, Hobby Lobby, JoAnne Fabrics, and internet markets are among the most recognizable companies that offer fabric for sale to the consumers. Smaller competitors such as Quilted Nest, and Lawson’s Fabric & Craft Center which offers similar fabrics and supplies also grab some of the market away from The Pin Cushion. The outlook for the fabric industry in general and in particular The Pin Cushion is still positive for several reasons. First, quilters and crafters always looking for the fabric store with the best quality and knowledgeable employees. The customers who belong to quilt guilds discuss the best fabric and locations. Second, The Pin Cushion offers a place for quilters who belong to guilds a place to meet and plan their next project. Third, consumers are getting confidence in the economy and the are able and willing to spend more. Finally, The Pin Cushion offers their fabric at reasonable prices which allows them to offer more of a discount to the

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