Forta Furniture SWOT Analysis: Launching a Private Label in Western Europe
What are the factors to consider when launching a private label in western Europe? How does your competitive position compare to your competitors? How much will it cost to enter this market? What is the potential impact of foreign competition? These are questions that Marita Petrescu will need to answer before she launches her new private label. Here are some tips on how to make the most of your analysis.
The objectives of the Forta furniture SWOT analysis are to determine the company’s strengths, weaknesses, opportunities, and threats, and to formulate a strategic plan for its growth. In a nutshell, the goals of the company should be based on its strengths and weaknesses and its unique strengths and weaknesses. Forta Furniture’s strengths lie in its strong customer base, innovative design, and competitive price and quality. Its weaknesses lie in its lack of scale and global presence and the threat of competitors.
This case study shows how an organization can leverage a SWOT analysis to improve its competitive position in a given market. In the case of Forta Furniture, it is a case of expansion into new markets with its private label offerings. However, the company needs to differentiate itself from other companies by offering something unique and different. For this, it should consider several strategies, including building a brand in the new market and competing with a local private label.
Cost of entering new market
Foremost among the factors affecting the success of an international expansion of a business is the cost of the new market. If you have already entered the same market, changing the existing product lines would incur a cost of zero. On the other hand, if you are targeting a new country, changing the product lines will incur an expense of one percent of the total cost. As such, the cost of entering a new market for Forta furniture is essentially zero.
Impact of foreign competitors
In January 2015, Marita Petrescu, the chief marketing officer of Forta Furniture, visited an international trade show to see what trends were emerging. She accompanied Forta’s vice presidents and came back with some interesting insights. In this case study, Petrescu analyzes the impact of foreign competitors when Forta launches in western Europe. The strategy she chooses will depend on the factors that she considers.
Strength of brand name
The strength of Forta furniture’s brand name depends on its product’s appeal and its ability to differentiate itself from the competition. Forta Furniture International Expansion should focus on capturing new markets, building a brand’s equity and establishing a strong consumer base. The company’s ability to differentiate itself from its competitors helps it differentiate itself from substitutes and increase its overall consumption rate. It should invest in international expansion strategies and modern merchandising to increase its brand equity and affluence in foreign markets.