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The opportunity looks promising, but a careful examination of the product and the market place – specifically through Going Here lens of the lean start-up methodology – is needed before a final decision can be made. According to Atul Teckchandani of EcoWash: A Business Opportunity Worth Pursuing? case study, this has provided Ecowash Exterior resources to not only thwart competitive pressures but also to invest into research and development. Social media growth can help Ecowash Exterior to reduce the cost of entering new market and reaching to customers at a significantly lower marketing budget. It limits the ability of the firm to build a sustainable competitive advantage.
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According to Atul Teckchandani , the organization can increase products and services by leveraging the skills of its suppliers and supply chain partners. – E-Commerce and Social Media Oriented Business Models – E-commerce business model can help Ecowash Exterior to tie up with local suppliers and logistics provider in international market. Weaknesses come from lack or absence of five key resources & capabilities – human resources, activities & processes, physical resources such as land, this hyperlink financial resources, and past experiences and successes . Ecowash Exterior can use two approaches – building on present strengths, or analyze the trend and build processes to two pronged market penetration approach. – Superior product and services link can help Ecowash Exterior to further increase its market share as the current customer are extremely loyal to it.
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– Implementation of Technology in Processes – Even though Ecowash Exterior has integrated technology in the backend processes it has still not able to harness the power of technology in the front end processes. According to Atul Teckchandani , brand recognition plays a significant role in attracting new customers looking for solutions in adjacent industries.
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Opportunities are macro environment factors and developments that Ecowash Exterior can leverage either to consolidate existing market position or use them for further expansion.
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Opportunities can emerge from various factors such as – increase in consumer disposable income, changes in consumer preferences, political developments & policy changes, technological innovations, and economic growth . – First Mover Advantage – Ecowash Exterior has first mover advantage in number of segments. According to Atul Teckchandani in EcoWash: A Business Opportunity Worth Pursuing? study – there are enough evidences that with such a high quality of products and services, Ecowash Exterior can compete with other global players in international market. check out this site to Atul Teckchandani , Ecowash Exterior has tested various concepts in different markets and come up with successful Innovation & Entrepreneurship solutions. – Lucrative Opportunities in International Markets – Globalization has led to opportunities in the international market.
– Successful Go To Market Track Record – Ecowash Exterior has a highly successful track record of both launching new products in the domestic market but also catering to the various market based on the insights from local consumers.
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– High Margins – Ecowash Exterior charges a premium compare to its competitors. Published by HBR Publications. Ecowash Exterior first hand witnessed the impact of it where it has seen lower demand of its products from middle class customers in US and EU market. – Opportunities in Adjacent Markets – Ecowash Exterior can explore adjacent industries to further market growth especially by extending the features of present products and services. According to Atul Teckchandani , Intellectual Property Rights are effective in thwarting same size competition but it is difficult to stop start ups disrupting markets at various other levels. Strengths and Weaknesses are often restricted to company’s internal – resources, skills and limitations.
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Threats can emerge from various factors such as – economic growth, changes in consumer preferences, political developments & policy changes, increase in consumer disposable income, and technological innovations . .