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The analysis of Marzilli’s Fine Italian Foods, a grocery store founded in 1940, allows identifying the following opportunities and threats in its development:
Mission statement
The mission of Marzilli’s Fine Italian Foods is to provide the best level of services in the process of presenting quality products to the store’s target customers, i. e. people loving Italian cuisine and willing to enjoy all its advantages.
Strategy
Thus, after the analysis of external and internal factors that affect the current position of Marzilli’s Fine Italian Foods is completed, one can try to propose the best alternative strategy for Jim Marzilli to use to save the business and provide the opportunities for its sustainable development. The matrix of the SWOT analysis presented below reveals that the best alternative will be to combine strategies ST 1 and WT 1 in one comprehensive approach to business development. In more detail, the major factors that according to Jim’s opinion cause the decrease of revenues of the store are the process of moving out that the Italian population of the area goes through and the inability of former customers of the store to reach it now.
Accordingly, the comprehensive approach will be to provide all loyal customers with two major options for attending Marzilli’s Fine Italian Foods, i. e. to enable them easily reach the store, no matter how remote their current locations are, and to open stores in the areas where the Italian populations are traditionally numerous.
Justification
To support the selected alternative strategy, it should be first of all noticed that the strategies devised by Jim Marzilli are expected to bring little help to the business. The idea of employee firing will only allow cutting short-term costs, while the further decrease of revenue will require new and new firings. At the same time, if the working hours of the store are cut, it will create only an illusion of cost-effectiveness, while actual revenues will not grow either.
So, the best way to solve Marzilli’s problem is to address it directly, and if revenues fall because customers cannot reach the shop and choose to buy products in other locations, Jim Marzilli should enable customers to attend his store in its traditional location or open the similar stores in locations, where it will be convenient for the customers. Accordingly, such a strategy will allow Jim Marzilli to solve the current, short-term business problems and also approach the long-term issue of the growing bargaining power of customers.
S.W.O.T. (strengths, weaknesses, opportunities & threats) Analysis
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