Competitive Analysis Task 2 PDF

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This is what the final assignment will look like. This is the actual assignment and it was accepted the first time it was submitted....

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RXM1: Competitive Analysis

Creative Cycling Competitive Analysis Student ID: #001456191 Date: 8-JAN-2022

A. SWOT Analysis SWOT Diagram STRENGTHS

WEAKNESSES

Financial Performance

Investment in the Future

OPPORTUNITIES

THREATS

Lost Sales Due to Stock-Outs

Rising Competition

SWOT Justification Strengths Financial performance is the strength of Creative Cycling. We are ranked number one in Financial performance & Wealth. The next closest competitor is 4 points away, and 24 points are the closest competitor. Our strength is much greater because we do not hold any financing risk. This allows us to put money back into the company without high monthly payments going towards debt. Also, our margins and market share are so high that it allows us to be so successful financially. Weaknesses Investment in the future is our greatest weakness after six quarters. This was actually the opposite of what it was the first five quarters. The reason for the sudden change from Q5 to Q6 was lowering our overall cost for the upcoming cost. If continuing with the simulation, I would rearrange priorities to continue aggressively investing in the company's future. Opportunities Lost Sales Due to Stock-Outs is an area where we missed out on a lot of extra cash in-flow. The original prediction of demand was 4,022 bicycles. We made plans to provide overtime to produce and sell 5,210. Unfortunately, we missed out on an additional sales of 1,118 bicycles. We need to have more available operating capacity and more flexibility with overtime. Threats Rising competition is possibly the most significant threat for us. Overall our competition still falls below us. The competition could potentially find ways to lower the overall manufacturing cost of carbon fiber bicycles, which would create better margins and more market opportunities.

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RXM1: Competitive Analysis

Competitive Analysis Template

B. Competitive Analysis Strategic Graphs Topic 1

I reviewed the results from the prior quarter every quarter. This allowed me to see why the competition was more successful with their brands and how to adapt my brand's to be similar to the competitions. The number of units sold continued to show impressive increases because of Creative Cycling's willingness to change its brand. This allowed for continuous improvement of units sold. Topic 2

In the 3rd quarter, we invested in research and development for a more ergonomic handlebar, carrying basket, and an improved carbon fiber bike frame. After R&D was completed, you could see the benefits from Q5 to Q6. The reason for the significant upswing

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RXM1: Competitive Analysis

Competitive Analysis Template

from Q5 to Q6 was the unveiling of the brand "the yacht." The Yacht provided what our recreational customers were looking for. The Yacht equated to have the third most sales from all brands of Creative Cycles for it only being its first quarter in production. Topic 3

The demand per salesperson dramatically changed from Q2 to Q3 after seeing that my operating capacity was dramatically less than other companies. Once I reviewed what the competition had been able to do with their operating capacity, I knew that I could boost my the following quarter from 4 to 13. With increasing my operating capacity that Q2-Q3, I knew I would need to boost the demands of my salespeople. I boosted my demand per salesperson from 6-14. The second significant increase was Q5-Q6 with the unveiling of "the yacht."

C. Recommendations SMART Goals

Specific – Introduce 1 more bike in each category (recreation, mountain, speed) to bring the total number of brands offered to 6. PAGE 3

RXM1: Competitive Analysis

Competitive Analysis Template

Measurable – Compare demand and sales data from previous quarters to evaluate which brands are most profitable. Attainable – Evaluate market research to determine which product features are the most desirable to consumers and add those to our bikes to boost sales and increase revenue. Relevant – Invest in R&D so we can keep up with our competitors and offer the latest technology in biking to make our products the most desirable in the market PAGE 4

RXM1: Competitive Analysis

Competitive Analysis Template

Time Bound – Capture and maintain the largest market share by Q Specific – Introduce 1 more bike in each category (recreation, mountain, speed) to bring the total number of brands offered to 6. Measurable – Compare demand and sales data from previous quarters to evaluate which brands are most profitable. Attainable – Evaluate market research to determine which product features are the most

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RXM1: Competitive Analysis

Competitive Analysis Template

desirable to consumers and add those to our bikes to boost sales and increase revenue. Relevant – Invest in R&D so we can keep up with our competitors and offer the latest technology in biking to make our products the most desirable in the market Time-Bound – Capture and maintain the largest market share by Q Specific – Improve manufacturing productivity Measurable – Decrease "Lost Sales Due to Stock-Outs" by 50% each of the next two quarters. Attainable – Make data-driven decisions by utilizing projected quarter demands reports to decide how to increase fixed capacity, operational capacity, and demand per salesperson. Relevant – Many parts of the business are affected by improvement in this area. The following will be affected: Manufacturing, Operationally, and Sales. Time-Bound – Decrease "Lost Sales Due to Stock-Outs" by 50% each of the next two quarters. I have selected "Lost Sales Due to Stock-Outs" as my SMART Goal. This is an area where Creative Cycling missed out on a lot of extra cash in-flow. The original prediction of demand was 4,022 bicycles. We made plans to provide overtime to produce and sell 5,210.

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RXM1: Competitive Analysis

Competitive Analysis Template

Unfortunately, we missed out on an additional sales of 1,118 bicycles. We need to have more available operating capacity and more flexibility with overtime.

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