STRENGTHS:
1. Close relationships with customers and geographical proximity of supply network makes it easy to adapt promptly and flexibility as per the customers on-going changing needs. As ToolsCorp’s supply management rely on the large retailers locally, it enables to reach to the customer easily and build close relationships with the customers.
2. The company offer the wide range of products to cater the needs of different segments of customers as per their different households needs. It offers products ranging from power tools, lawn mowers, lawn furniture, microwaves, and ranges, hence, focuses on different customer segments.
3. With its proven track record and company size, ToolsCorp able to grab a remarkable market share and has evident market presence. Its thriving performance has made its presence
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The entire supply chain management depends on the local retailers. Any disagreement with the same may sabotage the entire sales.
4. Marketing strategies are focused on the print media only which results in limited visibility to a target segment.
5. High level of dependency on the raw material increases vulnerability against availability and price fluctuations.
OPPORTUNITIES:
1. Increasing mergers and acquisitions and strategic partnerships to create larger companies for engaging R&D and building market power through increased economy of scale and access to new market.
2. As a customer based business, ToolsCorp has great opportunities to acquire major market share with Customer service excellence. Best services will result in enhanced customer base and customer loyalty.
3. Keeping a tap on the competitor’s weaknesses may give a chance to exploit the same and derive advantage from them.
4. Efforts put for the new products development may increase the target customer segments with wide range of new and innovative products.
5. As the product line is based on power, focus on higher energy efficiency solutions can derive innovation and reduce production