Question

The topic is:

Perform a SWOT analysis For any shopping Center. Do you think the shopping center administrators consider the same factors when devising their strategy?

word Counting 750

Answer 1

Firstly we should know what SWOT Analysis is: It means analysing internal and external factors in business by identifying their Strengths, Weakness, Opportunities and Threats so that they can survive in competitive environment.

Swot Analysis of Shopping Centre

Strengths

· The shopping centre is situated at good location that attracts more customers towards that place

· Have variety of good stores which are demanding so that more customer will visit

· Good parking space for more visitors, it helps the customer to get their vehicle parked securely and coming there conveniently

· Good ambience in shopping centre that helps to maintain good mood to customer and increase chances of buying more

· Good security system that give confidence to public that their belongings are safe

· Strong management

· Outlets provide heavy discounts as compare to other shopping centres that attract customer to buy more stuff as having less price

· Good marketing strategies promotes customers to come here

· High level of customer satisfaction leads to more recommendation to others also

· Various food courts are available there that fulfil their cravings and let them stay more at the place. they spend more time there

· Gaming zones for children are there so that more parents will come that becomes family spot.

· It has entertainment for elders also like Multiplex so that they can enjoy movies

· Nightclubs for youngsters are there that invites them to come and enjoy also increases chances to buy things there.

· Reliable suppliers

· Return on investment is good

Weakness

· Weak security system

· Repetition of same brand of stores

· Lift system do not work properly

· Unavailability of stock of items often

· Issue in barcode scanning at stores

· Less investment in technology

· Not able to have stores that have high demand in market

· Limited global presence

· Do Not have enough space for parking

· Lack of support from government

· Conflict in management while making decisions

· Situated at remote location very far away from City

· Lack of facility of packing food

· Lack of restrooms

· No proper access system to enter in shopping centre

· Do not have proper space between stores that creates rush

Opportunities

· Establishing partnerships to reduce risk level

· Opening up of new market because of government agreement

· Changing in trends of consumer behaviour give chance to attract them

· Increase of buying power of customer

· Increase in technology

· Innovation of new products to attract new customers

· Make the facility world class as foreigners are visiting city more

· New environment policy

· Geographic expansion

· More market growth as compare to past

· More discount to customers to attract them

· New trend of digital marketing to aware customer about the place

· More convenience related facilities to customer to make them feel comfortable

· Renovation of the place time to time to get it a new touch to be eye catching and attractive

· Low inflation rate means more stability in market that means giving credit facility on product at low interest rates

Threats

· New players entered in the market that increase competition

· Increase in use of online shopping leads to decrease in people visiting shopping centres

· Change in rate of taxation at higher rate leads to paying more taxes at income

· Change in customer taste means customer wants new type of products

· Face litigations due to change in various laws

· Change in price of products get the customer think twice before buying product at higher rate as compare to before

· Degradation of quality of products: customer will not compromise quality

· Due to uncertainty in economy store owners shut their business that means customer who are fond of those products will not visit the place

· Change in government policies

· Safety hazards in shopping centre

· Workplace accidents creates fear among employees and public also

· Structural problem that endangers customer

· Local distributors getting more strength in market

· The demand of high profitable products becomes seasonal that means less profit will be there to the stores

Analysis

As far as i analyse various factors that are mentioned above are very much enough to analyse for a shopping centre. And administrators discuss the same type of factors before taking decision for expansion, improvement or maintaining their stability in market. These factors covers all aspects that need to be considered so i think they consider same before devising any strategy.