Kids Playground business analysis.
I’m working on a Business exercise and need support.
SWOT Analysis- to further develop provided below analysis
GAP Analysis, Customer journey (bday party idea), Target Buyers (psychographics) – complete based on provided ( attached files about the business and additional search online ( about psychographics)).
To develop further following SWOT analysis as well as create a chart:
The company specializes in providing fun services for kids. It has five full-time employees who work to see that the children are safe and happy. Good marketing from the company’s website has seen the company double its revenues in less than three years.
The company’s location does not allow it to expand despite the growing number of clients. Another problem is that there is minimal traffic during weekdays as most kids are in school and the mall is not very busy. The company is yet to establish a brand as a children-specialized play facility distinct from theme parks. Lastly, the facility is overdependent on the five employees and it would be hard to find a replacement in case any one of them left.
Many parents are growing weary of taking their kids to theme parks following the many accidents involved. The next best alternative is a child-specialized facility like RK, as their price is easier to afford as well. This shows the market will be growing in the near future.
Due to the growing awareness that has been created by Rockin’s success, it is highly likely that many other firms will tap into the market. Highly anticipated, theme parks will shift to offering specialized children playing facilities. This can be a significant threat to Rockin’, considering its enormous resources and its positive publicity.