Smiles for Miles, like any business, has associated strengths, weaknesses, threats, and opportunities. These issues will be analyzed in this document, with strengths and weaknesses discussing internal factors for the company and the opportunities and threats analyzing external factors.
Strengths
Smiles for Miles fits into a completely unique business niche: it is the first and currently the only gift shopping service that is targeted at the Eastern Provinces. Because it is a unique service, the company has the potential to attract large numbers of customers through word of mouth. By providing a unique service, the company ensures that even if competition arises, Smiles for Miles will have a head start and a corner on the market.
Weaknesses
Although this company is targeted specifically at a certain service, there are generalized services that might also provide customers with similar options for gift-giving and shipping. E-commerce also comes with risks, and older clients often find e-commerce based transactions to be worrisome. Internal security will be a potential concern for the company moving forward.
Opportunities
The market is ready for a personalized gift service, as there are currently no companies filling this particular niche in the current market structure. Although there are generalized services that might be utilized by potential consumers, Smiles for Miles is targeting a very specific need for the consumer that no other company has been able to fill up until this point.
Threats
Replicas become a significant problem for companies that utilize Internet technologies. Market competition in the e-commerce niche is steep, and Smiles for Miles has to be able to compete with other businesses that offer more significant ranges on their product line. In addition, any legal restrictions on e-commerce have the potential to negatively affect business outcomes, as do negative economic indicators.
