SWOT Analysis & Marketing Mix of Toulouse Coffee Table
This paper will analyse Toulouse Coffee Table sold by Mark & Spenser. Although the store stocks a variety of coffee table, I choose to discuss this particular table due to its uniqueness. The paper will analyse the coffee table using SWOT analysis and recommend how the organisation may use marketing mix to improve the sales of this particular table.
SWOT Analysis
Strengths
Besides the table being unique, it is of high quality; hence it stands out among the other entire tables. The table is very popular in the market due to it durability and most of the customers who buys it, recommends their friends and relative to buy the same due to it high quality.
Toulouse Coffee Table has a very strong structure according to the way it has been made. The structure of the table is very stable and cannot easily break as a result of being unable to withstand a lot of pressure.
The table on the other hand has a very unique feature of drawers. There are two drawers where one can store something in it unlike other table that do not have this particular feature. Many customers like it since they do not have to buy something like book shelve in order to keep their books or magazines. They just use the drawer to keeps their magazines in them where they can remove them easily by pulling the drawers as they take their coffee. This particular strength has made the table to stand out among the other tables due to it conveniences of the storage facility. [1]
The capacity of the table is another feature that makes the table to be very popular among Mark & Spenser’s coffee table. One can utilise the table to handle or to store a number of items since it has two drawers. This is unlike other table which have no drawers at all and the only capacity that can be utilised in these tables is the top part of the table where we place our coffee and snacks.
The price the table is being charged in the market is very competitive since the table is going only for £319. This is a very reasonable price taking into consideration that it’s a two in one facility since one can use it as a table and also as a drawer to keep his or her personal effects.
The table can be sold at any part of the world since it is marketed online and one may order from any part of the world. For this case, the location of Mark & Spenser store will not affect its sale at all cost.[2]
Weaknesses
Toulouse Coffee Table has some weaknesses that continue to draw back its sales in the market. For one, the table is too short as most of the customer although they like it due to its unique features, they may complain that the table is too short.
The customers may want to buy this particular table if it has another unique colour. Most customers prefer products that have variety of colours in order for them to choose a coffee table according to their tastes and preferences. They may also want to choose a table that will match with other furniture in the house.
Opportunities
The table although it unique and can be very popular in the market, there is still room for improvement to increase its market share.
On the other hand, since the table is advertised on the internet, they welcome everyone from any part in the world to purchase it if they are interest with it.
The other opportunity available to Toulouse Coffee Table is that, since it is marketed by a large marketing store like Mark & Spenser, its stands a good chance of vigorous marketing since the organisation has enough funds to sponsor advertising costs. [3]
Marketing of Toulouse Coffee Table can be easy as Mark & Spenser can merge or have a joint business venture with another company in order to improve their sales. This opportunity can be taken if the marketing and selling of Toulouse Coffee Table becomes hard and this calls for them to look for better market. In such circumstances, the company may merge with another company that have better marketing facilities or have a number of distribution outlets scattered all over the world. [4]
Threat
Although Toulouse Coffee Table is unique, it is under threat from other stores that stock tables. There are so many businesses in the world today that stock tables that are similar to Toulouse Coffee Table and this gives Mark & Spenser a hard time trying to compete with them. Like any other business, Mark and Spenser have to keep on adjusting the price of this particular table so that it stands out among the competitor’s coffee tables. Majority of the customers are likely to go for cheap products hence Mark and Spenser must adjust their price as their competitors adjust theirs so that Toulouse Coffee Table can prevail in the market. [5]
Some competitors are capable of developing even a more decent coffee table than Toulouse Coffee Table, hence Mark & Spenser should be on the look out so that they may also develop a more unique coffee table and this will ensure that their products will continue prevailing in the market.
There may be competitors who have better channels of distribution of Coffee tables than Mark & Spenser. Some competitors may have branches in all the countries in the world where they may be distributing their products. In such circumstances, it is very difficult for the Toulouse Coffee Table to prevail in the market since most customers normally like purchasing something they can see on the spot unlike when they order online. [6]
Taxation issues would also be a threat to the marketing of Toulouse Coffee Table since it might be too high and this would in turn increase the price of the coffee table. Sine the coffee tables are marketed online, taxation in some countries might be too high forcing the table to be sold at a very high cost. This will affect the sales of the coffee table which will reduce drastically.
On the other hand, some countries may impose total ban on importation on coffee table in order to promote local manufacturers of coffee tables. In such circumstance, the sales of Toulouse Coffee Table will be affected greatly. For this case, Mark & Spenser should always be on the look out so that total ban on importation and taxation will not affect the sale of Toulouse Coffee Tables and if it happens, they can always shift the coffee table to another market where such regulations have not been imposed.
How Marketing Mix Can Enable Mark & Spenser Improve Toulouse Coffee Table Sales
Product Mix
The product itself when it comes to marketing is very important. For this case, Toulouse Coffee Table must be very unique for it to stand out among all other coffee tables in the market. In such circumstance, the coffee table must be of high quality, have unique and a variety of colour and the table should be durable among other qualities that might attract customers. This will enable Toulouse Coffee Table to prevail in the market as far as popularity in concerned since there are many more similar coffee tables in the market.
Mark & Spenser can also improve the sale of Toulouse Coffee Table if their offer post-sale services to their customers. These services may include warranties, better customer services and transport facilities. If Toulouse Coffee Table sale include post-sale services, it means that the coffee table will stand out among all other tables in the market thereby increasing their sales. [7]
Price Mix
Price is another important marketing mix Mark & Spenser should consider as far as marketing Toulouse Coffee Table is concerned. They must ensure that the price they will charge for the coffee table in the market is very competitive in order for them to attract more customers. The price charged should be reasonable so that it might even include delivery cost and eventually the coffee table will be very popular in the market. [8]
Place Mix
Place mix is another important marketing mix as far as marketing of Toulouse Coffee Table is concerned. For this case, the distribution outlets for Toulouse Coffee table should be accessible to their customers so as to increase sales. Most of the customers do not like travelling for long distance to buy the products they might need to buy. For this case, Mark & Spenser should stock Toulouse Coffee Table at many outlets as possible for easy access by their customers.
Promotion Mix
Promotion mix on the other hand is a very important marketing mix that should be considered by any product in order for it to prevail in the market. For this case, Toulouse Coffee Table should be advertised in as many advertising media as possible that may include: bill boards, television sets, internet, direct mail, coupons, newspapers and magazines. This will ensure many people are aware of the existence of Toulouse Coffee Table and this will ensure that the coffee table will prevail in the market. [9]
If Mark & Spenser implement these recommendations as far as Toulouse Coffee Table is concerned, they will increase their sales and the organisation at large will achieve it organisational goals and objectives.
References
Conner, D. R. (1993): Managing At the Speed of Change, Random House, London
Donovan, G. (2006): The Corporate Culture Handbook: The Liffey Press, London
Gordon, I (1989): Beat the Competition: How to Use Competitive Intelligence to Develop Winning Business Strategies: Basil Blackwell Publishers, Oxford
Hammer, M. and Champy, J. (1993): Reengineering the Corporation: A Manifesto for Business Revolution, Harper Business Books, New York
Hiatt, J. (2006): ADKAR: a model for change in business, government and our community. Prosci Research, New York
Kotter, J.P. (1996): Leading Change – Harvard Business School Press. London
Kotler, P. and Keller, L. (2005): Marketing Management, Prentice Hall, New York
LaMarsh, J. (1995): Changing the Way We Change: Gaining Control of Major Operational Change, Prentice Hall: New York
McGahan, A. (2004): How Industries Evolve – Principles for Achieving and Sustaining Superior Performance. Harvard Business School Press, Boston
[1] Gordon, I (1989): Beat the Competition: How to Use Competitive Intelligence to Develop Winning Business Strategies: Basil Blackwell Publishers, Oxford
[2] Kotter, J.P. (1996): Leading Change – Harvard Business School Press. London
[3] LaMarsh, J. (1995): Changing the Way We Change: Gaining Control of Major Operational Change, Prentice Hall: New York
[4] McGahan, A. (2004): How Industries Evolve – Principles for Achieving and Sustaining Superior Performance. Harvard Business School Press, Boston
[5] Gordon, I (1989): Beat the Competition: How to Use Competitive Intelligence to Develop Winning Business Strategies: Basil Blackwell Publishers, Oxford
[6] McGahan, A. (2004): How Industries Evolve – Principles for Achieving and Sustaining Superior Performance. Harvard Business School Press, Boston
[7] Kotler, P. and Keller, L. (2005): Marketing Management, Prentice Hall, New York
[8] Kotler, P. and Keller, L. (2005): Marketing Management, Prentice Hall, New York
[9] Kotler, P. and Keller, L. (2005): Marketing Management, Prentice Hall, New York
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