SWOT Introduction to Business PDF

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Summary

The summative assessment from Helen Stavaris' Introduction to Business class....

Description

Singer 1 Introduction to Business 26 November 2019 SWOT Analysis SWOT Analysis: Studio Pressurat Studio Pressurat is a massotherapy spa located in the Sheraton Hotel in downtown Montreal. It has been open since 1982 and serves to the public and tourists alike. The goal of this paper is to give an in-depth SWOT analysis on the studio so that it can expand in order to maximize its profits, cut costs, and keep the company in the black. [Strengths] -

Time: The studio has great opening hours. They are open 7 days a week which allows for the customers and hotel guests to have access to the center whenever they please. If someone feels like a morning massage or a relaxing one before bed they can go to the spa.

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Location: The spa is located in the heart of Montreal. No matter the time of day there are always people in downtown Montreal. This extends the customer base of the Spa. What is more important than the physical location is the fact that the spa is located in a Sheraton hotel which is a nationally recognized brand.

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Reputation: A quick google search reveals a 4.5/5-star rating for the studio. As someone who has worked in the restaurant business and managed social media campaigns, I know that this rating is difficult to achieve. The studio’s reputation definitely will help them to attract new clientele.

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Variety of Product: The studio offers a variety of 10 different massages. Each massage fulfills a significant purpose and diversifies a customer’s options. This allows for the massage studio to acquire new clients who need different things.

Singer 2 Connection to Sheraton: Studio Pressurat is associated with the Sheraton. This not only gives clients a place for a massage, but also allows customers to use the hotel’s hotel’s swimming pool, whirlpool, dry sauna and showers, and the exercise room and gym and outdoor terrace. -

Price: Pricing of the massage itself is standard, however, with the access to the other amenities that the hotel has, the price is very reasonable. Usually, one has to pay separately between access to the spa (pools, saunas) and access to the masseuse.

Weaknesses -

Social Media: Studio Pressurat is seriously lacking when it comes to social media. Although they have a Facebook, they do not have the most used social media platform of the last 5 years which is Instagram.

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Major Costs: The Studio is paying 9000$ a month just in rent and laundry expenses. This is a cost without paying employees and taking salary. This 108 000$ a year out of potential profit. Laundry and rent will always be an expense, but this amount seems excessive.

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Number of Employees: A masseuse is somebody who has mastered the art of massaging. It is a difficult job, but the studio only has 10 employees. The Sheraton has 825 rooms in the building. Having a small staff is great for morale and teambuilding, but not for business when there are so many potential customers.

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Publicity: Studio Pressurat has never been advertised in a newspaper or online. There is no real way to find them through the internet without having to scroll past at least 7 of their competitors.

Opportunities

Singer 3 -

Authenticity: The studio needs to capitalize on being one of the first massage places n Montreal. This can be used in marketing or just to appeal to people who would like a reliable place.

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Negotiate with hotel: The hotel advertises their spa facilities. The spa is a quintessential part of the hotel’s overall experience. The hotel should try to reduce the cost of their rent or laundry fees because the hotel needs to keep the spa around.

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Social Media: The spa wants to expand their customer base, yet their only social media is Facebook. They need to open a twitter and Instagram account. They can do giveaways and advertise through social media; it is the only way for them to truly expand.

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Go Green: The studio can offer special discounts to people who bring re-usable water bottles for the saunas and baths. They can also reduce plastic waste of the studio by using reusable utensils and plates. They can try to reduce laundry loads by making customers pay for extra towels or resources.

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Advertise, advertise, and advertise again: The company just needs to pump out as many advertisements as possible. On google, Facebook, Instagram, anything. When someone searches up “Massage in Montreal” they should see Studio Pressurat as the top result.

Threats -

Economic Slowdown: Not one of the only places downtown anymore. Company is losing 10% of revenue every year as the massage market diversifies.

Singer 4 -

Competition: Studio Pressurat is in market of monopolistic competition. There are many providers of massages in Montreal and surrounding areas. Prices are similar at every location.

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Competition: Studio Pressurat is in market of monopolistic competition. There are many providers of massages in Montreal and surrounding areas. Prices are similar at every location....