Worms, Inc.

Topics: Marketing, Barriers to entry, Fishing Pages: 3 (777 words) Published: January 24, 2013
SWOT analysis:
| Positive | Negative|
| Strengths:| Weaknesses:|
Internal| *Exclusive rights to sell a line of flies made by artisans*Sells all forms of real bait *Loyal following of customers*Company name is immediately recognizable*Great distributions through franchises*Bait is guaranteed*Very strong knowledge about worm farming*Low fixed costs*Fatter Worms: seem to work better*actively pursuing R&D. Example: R&D department doing experiments that indicate a worm can be engineered that will be 33% more successful at attracting trout & bass *Franchises in worm farming, higher supply| *Only sold through a catalog*Limited product lines*Market share is decreasing *No contracts for mass produced lures*Management Can be narrow-minded*Line workers think Managers are “old school” & tend to exhibit self-limiting behavior*No artificial bait*Worms cost more for consumers*limited suppliers| | Opportunities:| Threats:|

External| *Current economic times (recession) can induce people to fish for food* 80% of market share can be gained.*low interest rates on loans*focus on healthy eating*Technology—internet sales*high price of fish in stores| * Potential for other companies to do R&D*Other companies are expanding what they are selling beyond fishing supplies*other companies with larger selection of bait*not getting the independent artisans products*are these exclusive lines of flies patented or trademarked so others can’t copy them?(this is part of what makes the company a differentiation company—having an exclusive line of flies)* Customers not willing to pay more for worms*Water/fish contamination concerns that may result in fewer people fishing and fishing supply demands decrease*new laws and regulation affecting fishing *low price of fish in stores|

Porter’s “Five Forces” Analysis:
1. Threat of New Entrants: Very low Barriers to Entry, according to the Worm Study, there are “tens of thousands” of independent shops...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay about Computer Worms
  • Essay on Apple INC analysis
  • What Worms and Trojan Horses Are Essay
  • Case Study Apple Inc. Essay
  • Worms and Trojan Horses Essay
  • Essay about Viruses, Trojan Horses and Worms Can Be the Cause of Damage to a Computer System – Are People Who Generate Them Breaking the...
  • Apple Inc. Essay
  • Apple Inc Essay

Become a StudyMode Member

Sign Up - It's Free