Question: 6. Summarise risks associated with each opportunity, including risks associated with potential competitors. Identify at least two strategies or approaches to mitigate risk per opportunity
6. Summarise risks associated with each opportunity, including risks associated with potential competitors. Identify at least two strategies or approaches to mitigate risk per opportunity (100 - 150 words per strategy or approach).Analysis of Opportunities Opportunity 1: Expanding Product Range This aligns well with BBQfun's strengths in offering high-quality products. Expanding the range can attract different segments and fulfill diverse customer needs. However, BBQfun must ensure that new products align with their quality standards to maintain the brand promise. Opportunity 2: Enhancing Online Sales Given the increasing trend in e-commerce, enhancing BBQfun's online presence would tap into a broader customer base. Integrating user-friendly online platforms and optimizing for mobile can significantly improve accessibility and sales. Opportunity 3: Improving Customer Service Strengthening customer service aligns with BBQfun's mission to provide excellent support and service. Improved service processes, such as more responsive support and efficient returns, can enhance customer loyalty and satisfaction
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
