Introduction
Marzilli’s Fine Italian Foods was started in 1940 by two Italian immigrants, Gino and Maria; his wife. It is a grocery store that initially provided grocery items in Milan; the capital city of Italy. The grocery has gained prominence in Milan and has recorded growth over the years. The two founders of the grocery, Gino and Maria run the business until 1975 when they retired and left it to their son Jim who then runs it alone.
The business had excellent performance through 1980s and 1990s until recently when the sales revenue went down due to migration of customers to the suburbs. The business has not breakeven for the past couple of years and has therefore not recorded profit. Jim is working on strategies to alleviate the situation. He argues that the business can mitigate the costs by reducing the number of operating hours and concentrate on the hours that customers visit the business most. This paper seeks to present the SWOT analysis for the business. The SWOT analysis will be considered under the internal and external factors that are strengths and weaknesses on one side and opportunities and threats on the other hand (ICMBA, 2007, P.1).
The SWOT analysis
Internal factors
External factors
The mission statement: to provide high quality grocery items to our esteemed customers through out the region and integrate information technology with our service delivery to ensure satisfaction to our customers in both the local and urban areas.
Alternative strategies
There are many strategies that the Marzilli’s Fine Italian Foods grocery can employ in order to become the best in the industry. First is to expand its operations to the rural areas to ensure that they maintain the old customers who move to live in the suburbs. It should also device marketing strategies for its grocery items like advertisements, sales promotions et cetera. The grocery should work on its pricing mechanism to ensure that it becomes the price leader and prevent or minimize new entrants in to the market. Then identify the needs of the people around and then come up with new products to meet their needs.
ese strategies are achievable and they aim at making the company more profitable and also satisfying the customers fully.
Recommendations
The grocery should adopt the two strategies suggested by Jim and also those suggested above. All strategies should aim at satisfying customers who are the core reasons for the grocery existence.
Conclusion
Despite the declining sales volume of Marzilli’s Fine Italian Foods, the grocery still have many opportunities for growth and increase its profitability.
Reference List
Internet center for management and business administration, Inc (ICMBA). (2007). QuickMBA. SWOT Analysis. Web.