6) How strong is the company’s competitive position? Present some form of a competitive Strength Assessment for your client and its competitors. Key success factors| Jones & Co| Petco| Petsmart| Co-op| Reputation| 8| 7| 8| 5|
Distribution Relationships| 10| 10| 10| 7|
Product and Service Range| 8| 8| 9| 4|
Financial Resources| 7| 8 | 10 | 7|
Product Presentation| 10 | 8| 8| 8|
Experienced Workforce| 10 | 8| 8 | 7|
Location | 7| 9| 9| 7|
Totals| 60| 60| 64| 45|
We picked some important key success factors of the pet industry to evaluate the competitive strategic assessments. Any company which will be success in the pet industry they must have the strengths on its reputation, distribution relationships, product and service range, financial resources, product presentation, experienced workforce, and location. Those characteristics are necessary for a company to success in the pet industry and it is also examined for our competitors such as Petco, Petsmart, and Co-Op in Marysville, Washington State. We make some assumption on the rating for our competitors based on the real situations come with strong explanations.
When customers consider to consume a product, the first thing comes up to their mind is the product’s brand name or reputation. Since, our company was in the business for over 30 years, so we are gaining a strong recognition from Marysville’s customers. The store is still generating revenue because we have a good connection with customers and they have a good imagination about our store. On the other hands, Petsmart and Petco are the leaders in the pet industry, and they are national brands recognition. They open their stores everywhere in the US. Apparently, we just examine the reputation in Marysville area, so we all have the same rate of reputation. We are on in the business for over 30 years, and Petsmart and Petco are famous brand in the US, so we think we are in balance for the reputation in Marysville. Co-op is considered having the weakest reputation because their store is old, they are just making a low profit and they are almost from farmers although their product lines have pet foods.
A successful store always needs a strong relationship with distributors. We are in the business for quite a long time, and we had a long term agreement with our suppliers. After 30 years in the pet industry, we did not have any issues with our suppliers. Our suppliers always give us the best price and guarantee the quality of the production, and they are one of the reasons to ensure our store successes. Otherwise, Petmart and Petco still keep opening their store across the countries, so we assume they must have some a really good connection with their distributors. In the Co-op store, they do not have a scanning price, they still can keep track everything based on the number they stick in their products which means they don’t have the variety of products. Their price for pet food is higher than the market, so they do not have the ability for price negotiation with their suppliers.
Petsmart and Petco, they are not only offering pet products and pet suppliers but also pet services such as pet glooming and training. Especially, Petsmart has offered the pet hotels for the owners who want to travel. For the variety of products and services that Petsmart and Petco are providing, we will give Petsmart ten points and Petco eight points. Our company just provides the pet products and the pet suppliers, but we have more brands of pet foods that Petsmart and Petco don’t have in their stores. As a result, we give customers more choice for their pets, so we can get eight out of ten. Co-op offers only a few products and limits the costumer’s selection, and they get the lowest score of four.
Petsmart is only one company who goes public; they can finance their operation for many sources such as company stocks, debts, and cash from operation. So, they...