Bay Health Food is a manufacturing company that produces healthy food products for consumption by all members of society. It is located in Cape Breton, Sydney. Ranging from spices to teas, the company has expanded its customer base in an impressive way. In particular, the company has diversified its product line in an attempt to remain competitive in the contemporary business environment.
This discourse seeks to conduct a succinct situational analysis of the business environment facing the company. At the outset, Bay Health Food faces a political environment that is typical of stringent laws and regulations that streamline the sector. This is to ensure that companies in the sector adhere to safety standards and do not cause environmental pollution and degradation.
The paper will explore the social, technological, and cultural environments of the company to provide insights about future changes and potential threats. It is important to pinpoint that business environment plays a significant role in firms’ successes and failures.
Additionally, the discourse will conduct Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis for Bay Health Food Company. This is instead of the fact that every company has its opportunities and strengths that it can use to establish a competitive edge over other companies.
Besides, SWOT analysis assists a company in understanding the nature of threats and weaknesses it faces. Currently, Bay Health Food has a diverse product line that gives customers a wide array of choices. This is an addition to a strong and motivated workforce.
Nonetheless, it suffers from the lack of a clear-cut marketing strategy that could help the company to exploit its opportunities. The opportunities include increasing popularity of health conscience diets, substantial awareness of the products, and adoption of technology among many others. Bay Health Food ought to mitigate the impacts of threats such as Cape Breton’s economic downturn, innumerable regulatory measures as well as severe competition from established outlets.
The essential part of business management is marketing. Companies develop marketing plans that enhance the company’s responsiveness to the needs of customers. This implies that a company must develop clear marketing objectives and identify a specific group that its products target. Bay Health Food’s main objective is to increase the awareness of its stores and franchises by over fifty percent. This is through intense promotion activities in addition to excellent positioning of its product line.
To capture and address the needs of the people within the target population and increase its market share, Bay Health Food ought to ensure that its products continue to reflect diversity. This will not only make the promotion of products to be efficient but also allow the company to streamline its supply chain right from the suppliers to the customers.
Finally, the paper will emphasize the importance of conducting marketing research and ensure that the full implementation of the marketing plan is undertaken. Implementation and control of Bay Health Food’s marketing plan are important.
Such measurable indicators as fluctuations in consumers’ awareness about Bay Health Foods and the rate of technological changes will evaluate the successes and failures of the marketing plan. The paper also outlines a rigorous advertising plan that the company seeks to roll out. In particular, the company aims at developing a website that will bring about improved efficiency and effectiveness in promoting and advertising its products.