Strengths, Weaknesses, Opportunities, and Threats of Be Good To Go - Research Paper Example

Memorandum Client Evaluation: Be Good To Go Introduction This memorandum seeks to critically look at a company called Be Good To Go. The memo looks at some of the important issues with regard to the firm. To begin with, the firm will be looked at in terms of its products, the market for these products and location as well as their mission and vision. The memo will also look at the industry in which the Be Good To Go company operates with the intention to further understand what the issues in this industry may be. Finally, based on this information (the products of the company the market, the customers and the industry), a critical analysis of the biasness in terms of strengths Weaknesses, Opportunities and Threats (SWOT) will be carried out. Client details Overview of the firm Be good to go wants to know how the market future looks for its products in order to know how to approach the market in the future. The company produces a nutritional health supplements that are geared towards helping people who travel to avoid constipation. Constipation among travelers is a common thing and many people who travel for relatively long distances using any means whether it is train, air, road or even water (ship) suffer from constipation upon reaching their destination (Westen 89). With the Be Good to Go products the traveler can travel safely knowing that they will reach to their destination and even further without having to fear about the issue of constipation. The products are capsules that people who are travelling can take. They come in pairs, one to be taken in the morning and the other in the evening after the parson has reached his or her destination. The mission of the firms is to make sure that people can travel contrary and without having to fear the age old problem of constipation. They achieved this by researching the issue and developing a product that when used properly will help the users to deal with the issue of traveler constipation. Industry in which the firm operates For Be Good to Go, it is almost hard to identify which industry or sector to place it. The first is that it not a public firm and scant information has been provided about the firm. However, given the nature of the products that the firm provides to its customers, it is only necessary to place it in the health and nutrition supplement industry. This industry has been regarded as the growth industry with regard to the fact that it is has a fast growing industry that will continue to grow at a very fast rate. The size of the Be Good to Go within this industry can be seen to be both big and small due t two main reasons. First, Be Good to Go has a unique sector in this industry, a sector which is a niche that not many firms have ventured into. In this regard, within this industry, Be Good to Go is a big firm and has big potential for growth. As Earnest (78) says, the industry has been credited to be generating over $32 billion in revenue through the production and sale of nutritional supplements s of the year 2012. This figure is expected to double to over $60 billion in 2021 (Maxwell, 248). The growth has been caused by the fact that many people are appreciating the fact that the use of health and nutritional supplements is important for them. Many people do not have the time and resources that may be needed to achieve health results using the natural ways (Pullman 154). For instance, with regard to lose weight, many people do not have the time and resources that may help them to lead the kind of lifestyle that will help them to be able to gain and sustain the right health outcomes. As a result, most of them have to depend on health and nutritional supplements, thus creating a big market for these products. The same is also true for other nutritional supplement such as the Be Good To Go supplement. The product seeks to help people to be able to prevent traveler constipation and the symptoms that come with such constipations which include bloating of the stomach, gas and dehydration. Yet, these issues can be solved by the user by just eating the right nutrients such as having a diet full of fiber (fruits and whole wheat and brown rice). However, due to the fact that the people may not have the resources to be able to access this kind of diet, they are likely to use the easier ay which is to use the Be Good To Go supplement which will lead to the same results. Segments The main segment in which Be Good To Go can be said to be is the travel sector of the food supplements. This is a relatively new segment and therefore data about its growth in the past is not easy to determine (Moses 198). However future growth can be easily estimated with regard to the fact that the number of people who travel each year is increasing by the year. Most of these people who are either travelling for vacation, business trips or any other purpose may find this product to be very useful and may want to use it. A great percentage of people who travel each year stays in their destination for only less than a week (Jackson 49). This is one excuse why most of these are most likely to find the product to be very useful for them. Competitors Considering that this is a comparatively new product, it has not competitors, especially within its own niche of operation. The main completion that can be said to be facing the company is the competition from substitute products. For instance, the target customers can choose to not use the produce but instead use the foods that will help them to overcome the issue of constipation. The customers can choose to use fruits and whole-grain meals to deal with the issue of constipation when they are travelling. This will aid them to deal with the problem without having to depend on the product from Be Good To Go. Customers The customers who are targeted by Be Good To Go for their product are people who travel, either rarely or even frequently. The Be Good To Go product is targeted to people who are travelling and only staying in their destination for a short time of between four days and one week. This are the people who are the most likely to find this supplement very useful. The age is not an issue with regard to targeting the market since the product is applicable to anyone who is travelling. The product is geared towards helping the users to be hydrated and to not only prevent constipation but also to help in avoid the other uncomfortable symptoms that come with the issue of constipation such as bloating of stomach. For some people such as business executives who only go to one city for a short time and are busy during this time in activities such as attending a meeting, this can be very useful for them because they do not want to attend their meeting in a bloated stomach or with constipation. This is therefore very important for them (Thiery 137). The product is also very important for people on holidays because they want to make sure that they will enjoy every day of their holiday as opposed to spending their holiday in a bloated stomach. Analysis Strengths The product is made from years of research and this will be very useful for the product. Most nutritional supplements suffer for unprecedented side effects that then affect the way the product is going to be received in the market, the fact that Be Good To Go has overcome this is very important. Weaknesses Not only is the Be Good To Go product poorly promoted, it is also poorly marketed. Marketing in this case refers to the distribution strategy. Be Good To Go depends too much on online sales and the problems with this is that although online sales are seen to e the future of retailing, the physical shops pay a major role. Opportunities The many people who travel everyday are a potential market for the product. At the same time, since Be Good To Go is a pioneer in this market, it is an opportunity for the firm to grow a market share. Threats The main threats come from the substitute products which are readily available. Even if these products are not as easy to use as the Be Good To Go supplement, they still provide a formidable way competition for Be Good To Go. The other threat that the firm faces is the threat of being copied. In many industries, the pioneers are always edged out of the market by new entrants who come in and learn very fast through copying the pioneers. This is likely to happen to Be Good To Go and it may lose its market share in the long run, thus making it harder for the firm to grow. Works Cited Earnest, Y.P. "Understadingt he Future For Food and Butrional Supplements ." Modern Journal of NUtrionla Supplements (2011): pp. 45-54. Print. Jackson, P.D. Modern Travel nd Tourism. New York, NY: Pearson Books, 2012. Print. Maxwell, P.D. "The Future of Health Supplemtns: A Lense to See the Future ." MOdern Journal fo Butrition, , 89, 4 (2012): pp. 81-99. Print. Moses, V.A. Modern Lifestyle, Health and Productivity . Hobboken, NJ: Wiley & Sons, 1999. Print. Pullman, P.D. Dealing wtih Todays Life and the Busy Schedule; keeping Abreat with Your Health. New York, NY: Pearson Books, 2015. Print. Thiery, L.D. The Modern Day Office Person and the Nutritionla Supplemnt. New York, NY: Guille Books, 2014. Print. Westen, P.S. Modern Travel: Knowing the Issues. New York, NY: Pearson Books, 2012. Print. Read More