The corporate headquarters of the Publix grocery business are located in Lakeland, Florida. Publix is said to have been founded by George W. Jenkins. It is an autocratic family firm, and its shareholders include current and previous members of the Jenkins family and other employees. Publix is present in seven states that comprise the United States Southeastern area. Florida, Georgia, South Carolina, North Carolina, Virginia, Alabama, and Tennessee are among these states. Publix is a multinational firm that serves the public in various ways, such as a pharmacy, food market, culinary training provider in schools, restaurant operator, and retailer of groceries, dairy products, baked goods, and other food-related commodities.
A basic method, such as the SWOT Analysis of Publix, can assist a firm in determining what it does best right now and developing a successful plan for the company’s future. It brings to light the areas in which people withhold information or how competitors may profit. The essential components of Publix’s operation that give it an edge over its competitors in the market are what we consider to be the company’s strengths (Tichenor et al., 2018). The financial condition of a brand, the skilled workforce it employs, the one-of-a-kind quality of its products, and intangible assets such as brand value are all essential variables that contribute to its strengths.
The following is a list of strengths that were identified in the SWOT analysis of Publix: Publix is one of the most important regional supermarket chains in the United States. Over 200,000 people work for the Publix brand across its retail locations (over 1000), cooking schools, corporate headquarters, grocery distribution hubs, and manufacturing facilities (Tichenor et al., 2018). It sells many products, including bakery items, dairy products, meat, seafood, medications, and alcoholic beverages. Shopping at the firm can be much fun, especially for individuals who like having everything they need in one place. Publications such as Fortune 500 have named it one of the most successful retail chains (Tichenor et al., 2018). Publix provides a detailed and extensive special-order service. Some clients obtain free prescriptions from the brand, which helps the brand’s improved identity and reputation.
In order to strengthen its position, even more, there are certain facets of a company’s operation that the company needs to improve. These are the brand’s vulnerabilities. Certain shortcomings can be defined as characteristics the firm does not possess or areas in which the company’s rivals excel more than it does. The limited presence of the Publix Corporation in emerging and developing markets, compared to that of other global competitors, is one of the company’s primary areas of weakness.
The opportunities for any given brand might include many facets of the company’s operations that could use some work to make them more successful. The potential for a brand may be found in various places, including geographical growth, product innovations, and improved communication. Publix opportunities entails moving into new areas with tremendous potential will help the firm grow. Publix’s ability to construct a robust market presence online might be aided by increased advertising on digital and social media platforms. The company’s growth can be facilitated by forming strategic alliances and joint ventures.
Operations of Any company may face threats in the form of variables that have the potential to affect the company adversely. Threatening elements include, but are not limited to, a rise in the activities of competitors, a shift in government policies, and alternative goods or services. The following are the dangers identified in Publix’s SWOT analysis: Publix’s income may suffer when faced with competition from foreign players. If fewer obstacles exist to entry into the retail and grocery industries, more competitors may enter the market. Loss of business can result from a combination of lower switching costs to competing brands and unfavorable company policies.
Publix’s success can be attributed to the company’s strong emphasis on offering exceptional customer service. There are several brands on the market, all competing for the attention of the same customers. The following are the top three competitors for Publix: Walmart, Kroger and Amazon. Since Publix is an employee-owned firm rather than a corporate bully who exploits its employees, it has built a culture and strategy that prioritizes people, whether employees or consumers. It has surpassed all of its competitors in terms of profitability. When it comes to Publix, the workers are the company (Tichenor et al., 2018). Due to their talent, they have the edge over their competition. This is because Publix tries to hire individuals with high standards, a strong desire to make a difference in the world, and a strong sense of teamwork.
This section will offer recommendations to help Publix Super Markets take on strategic directions that will enhance the company’s core strengths and capabilities while reducing its chances of being exposed to risks and threats. These recommendations will be based on the general internal and external analysis that was done for the company. The Publix organization has to establish original marketing strategies that primarily emphasize increased market share.
With this strategic advice, the firm will be able to reach a greater number of customers and make deeper inroads into specific consumer groups. Additionally, the corporation will be able to boost the number of its items that are tried out, consumed, and sold thanks to this technique. It would be beneficial for Publix Super Markets to enter newer geographic regions and market niches. This can be accomplished by penetrating new market niches. As a result of this development, the firm will have access to new customer segments. It does this while also increasing consumption overall and diversifying sources of income.
Reference
Tichenor, J. M., Beasley, J., & Subramanian, R. (2018). A business ethics supply chain case study of Publix supermarkets and the coalition of Immokalee Farmworkers’ Fair Food Program. Web.