SWOT Analysis
SWOT analysis is the principal tool, which is beneficial in terms of defining a companys strengths, weaknesses, opportunities, and threats. Therefore, it would suit the situation of Macys and allow making a plan in accordance with the revealed specificities (Grant, 2020). The table containing the complete information on the analysis results can be seen in Appendix A of the given report. According to it, the main strengths of Macys relate to the positive attitude of the customers towards the companys goods and services (Simmons & Kang, 208). Consequently, it results in higher customer satisfaction with the products and a better image of Macys.
Moreover, the quality of its goods is higher than the quality of products of its main competitor, Amazon. According to the research, the brands that Amazon retails are less known to the customers than the ones of Macys (Simmons & Kang, 208). Hence, it is another strength of Macys, and the companys indicators reflect its more privileged position on the market in comparison with Amazon.
The presence of such strengths as the positive attitude of customers, brand awareness, and hi
gh quality contribute to the emergence of specific opportunities for further company development. Thus, such opportunities include the chance to improve the companys online presence. This task is essential in the conditions of online competitiveness, with numerous retailers providing similar services. Macys also can use its strengths to enter the international retailing market and thereby improve its image or open more stores across the country.
It is important to note that there is always a possibility of the emergence of specific issues interrupting the plans of Macys. Its weaknesses, such as limited opportunities for business expansion, insufficient use of technologies, and the consequent reduction in market share, might worsen the situation. The problems connected to changing economic circumstances or customer behavior are entirely unforeseeable. The only way out of similar situations is the ability of the companys managers to find a flexible solution for business operations. Hence, Macys efforts should be directed at taking measures to remain competitive in the presence of other large retailing companies.
Porters Five Forces