SWOT Analysis Of Nolimit

Strategy is one of the significant elements used in many organizations in the world of business as every company faces challenges. Some are to grasp new opportunities in the market and some are to overcome the strategic issues. Therefore, having a suitable strategy will help any organization to survive in the market in the long run of the business.

The strategic contexts of an organization highlight the important areas that need to be followed by all the employees and it gives a clear idea about the business. A number of factors are responsible for company’s success and one of the main reasons would be the strong mission and vision statements. The mission and vision of organization give the direction to make the business decisions of the Company

Nolimit offers all kinds of clothes and accessories for men, women and children. Nolimit targets its products according to the age categories and income level but mainly concentrates on age categories such as kids, teenagers and the youngsters. In addition, they also sell accessories at reasonable price. (Nolimit, 2016)

Here, Nolimit should conduct an analysis or research to identify the current strategy position of the organization.

SWOT analysis

This also known as environmental analysis as this evaluates the strength and weakness of the organization by analyzing the business environment. This covers both the internal and external environment. The SWOT analysis helps to identify the strength and weakness from internal environment and opportunity and threats from external environment. (Mello, 2002) Table 1 shows the SWOT analysis for Nolimit. Internal External

Favorable Strength

So when an organization introduces a new product it progresses through some different stages in its life cycle. So the product life cycle clearly shows the main 4 different stages (Introduction, Growth, Maturity and Decline) of a product in its life time periods. So by understanding the importance of these stages and use the suitable strategies the organizations can market the product successfully.

Product life cycle Galaxy Grand 2

Introduction

In the introductory stage they explained the concept of the product and tried to give a clear image of the product. The main purpose of this stage is giving the awareness of the product. Even though the demand was low price, this product was very expensive.

Growth

In this stage sales started to grow rapidly and consumers were very happy and satisfied .high investment and high growth. To keep the consumer with the organization they used some promotion actives such as advertisement. Decrement of the price and the persuasive advertisements helped to earn more profit in this