SWOT Analysis and Recommendations for Ventura Boats

This article provides a SWOT analysis of Ventura Boats and recommendations for growth strategies. It also discusses threats and opportunities analysis for the company.

Running head: MARKETING PRINCIPLES
Marketing Principles
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1MARKETING PRINCIPLES
Table of Contents
1. SWOT ANALYSIS OF VENTURA BOATS.................................................................1
2. THREATS AND OPPORTUNITIES ANALYSIS.........................................................3
3. RECOMMENDATIONS.................................................................................................4
References............................................................................................................................6

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1. SWOT ANALYSIS OF VENTURA BOATS
STRENGTHS
It has strong global presence
Designs and builds small sized and
high quality luxury boats with
traditional materials
Sell their boats directly to the
customers and boat yards as well (Grant
2016)
Ventura boats has power of negotiating
with different vendors
It has diverse staffs who helps the
company to go forward in the
diversified market
It has prospered in the past and built
strong reserves of cash
WEAKNESSES
The revenues of the respective
company is dropping in the present
situation
There has been long term debt on the
construction of different new boats
The rising cost of the fuel is the other
weakness and it is affecting the
business of Ventura Boats
(GURCAYLILAR-YENIDOGAN and
AKSOY, 2018)
The manufacturing technology of
Ventura Boats is outdated in nature
The government of Australia has stated
that there will be some boats that will
be restricted to be sold by Ventura
There are no such innovation or
introduction of new models of boats
and this is affecting and declining the
portfolio of products of Ventura
Boats
OPPORTUNITIES THREATS

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Bigger boats are prepared by Ventura
Boats that will be luxurious in nature
(REZAEI, KHAVARIAN and
GHAFURZADEH 2016)
Ventura Boats can introduce and
innovate new kind of models of boats
and make different technological
advancements
The current products made by Ventura
boats will be legal in nature in the
present scenario (Chiang, Chen and Ho
2016)
There are customers who are passionate
about buying boats from Ventura and
this will increase business of Ventura
Company
The different advanced boat builders
have commented that they will be
closing traditional boat companies and
this is a threat for Ventura Boat
Company and this is affecting morale
of the employees
Significant departure of different staffs
are risk and threat to Ventura Boat
Company
There is huge rate of competition in the
entire market and government
legislations
2. THREATS AND OPPORTUNITIES ANALYSIS
From the SWOT analysis of Ventura Boats, it can be seen that there are different
strengths, weaknesses, opportunities and threats of the company. From the SWOT analysis, the
external environment analysis has been done wherein the opportunities and threats are discussed
as follows:

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Threats
It can be seen that there are different threats of Ventura Boats that includes there are
different technologically advanced builders who are looking for smaller competitors (Kuimov,
2017). Ventura Boats is one such small competitor in the market who is not able to perform well
in the market and the technologically advanced boat companies wanted to acquire the share of
market, liquidate the assets, and close the small competitors in the market. This is one of the
huge threats for Ventura, this has influenced the morale of the employees, and the attrition rate
had been huge. There are different government legislations that is affecting the market and this is
creating trouble for the company as well (Huizingh and McCarthy 2015).
Opportunities
On the other hand, there are different opportunities of Ventura Boats that has helped them
in gaining huge competitive advantage in the entire competitive market (Bohari, Hin and Fuad
2017). On the brighter side, the government has created restrictions on the traditional boats,
however Ventura boats has the opportunity to create new models with implementation of
different innovation in an effective manner. The other opportunity that will be gained by Ventura
Boats is that the current development of the new products will be legal for the coming years as
well (Rothaermel 2015).
3. RECOMMENDATIONS
With the usage of Ansoff’s Matrix, it helped in analyzing the alternative growth strategies
of Ventura Boats. The Ansoff’s matrix helped in focusing on the present as well as potential
products along with markets. The market penetration, development along with product

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development has been utilized in the construction of different boats. The product diversification
is essential in nature, as this will help them in diversifying the variety of products in the market.
From the Ansoff’s matrix and threats and opportunities analysis, it can be analyzed that
product development is necessary to be done by Ventura boats. There are different threats to the
existing business of Ventura Boats wherein the other competitors in the market are
technologically advanced and developing different luxurious boats. These companies are
planning to liquidate the business of Ventura Boats, as they are small competitors. With the help
of product development, the Ventura Boats can increase their scope in the competitive market
and this will help them in gaining competitive advantage as well.
A product development is appropriate recommendation strategy that can be applied by
respective company Ventura Boats, as this will help them in gaining more advantages from the
specific customers and target customers as well. Ventura Boats can face other issue that is related
to legislations of the government that will be taking the existing and traditional products obsolete
and their sale will be restricted as well. Furthermore, in regards to the respective matter, the
company can build new technologically advanced products and this will be made legal by the
government of Australia for the future as well. The respective company needs to understand the
requirements of the customers in the market as well as they are the assets of the company.
The main aim of Ventura Boats is required to be on the competitors in the market, as this
will help them in understanding the different marketing strategies that can be used by them in the
future to gain competitive advantage in their business. The market share has to be increased by
the company, as this will provide them with different marketing techniques that can be applied

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by them to attract customers and make their business more competitive in the present market
scenario.
Lastly, the strategy of product development will include making more small luxurious
boats that will be better than the competitors with technological advancements. The core
competencies has to be analyzed in an effectual manner by Ventura Boats as this will help the
company in boosting morale of the employees and provide the customers with the necessary
requirements desired by them.

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References
Bohari, A.M., Hin, C.W. and Fuad, N., 2017. The competitiveness of halal food industry in
Malaysia: A SWOT-ICT analysis. Geografia-Malaysian Journal of Society and Space, 9(1).
Chiang, Y.M., Chen, W.L. and Ho, C.H., 2016. Application of analytic network process and two-
dimensional matrix evaluating decision for design strategy. Computers & Industrial
Engineering, 98, pp.237-245.
Grant, R.M., 2016. Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.
GURCAYLILAR-YENIDOGAN, T.U.G.B.A. and AKSOY, S., 2018. APPLYING ANSOFF’S
GROWTH STRATEGY MATRIX TO INNOVATION CLASSIFICATION. International
Journal of Innovation Management, p.1850039.
Huizingh, E. and McCarthy, K.J., 2015, January. The Innovation Portfolio Risk Matrix: An
Empirical Test. In ISPIM Conference Proceedings (p. 1). The International Society for
Professional Innovation Management (ISPIM).
Kuimov, V., 2017. A Contextual-Functional Analysis of the Enterprise
Performance. International Journal of Entrepreneurial Behavior & Research, 23(2), pp.356-362.
REZAEI, M., KHAVARIAN, A. and GHAFURZADEH, M., 2016. The Development of
Industry in Yazd Province by Using the SOAR Strategic Framework and ANSOFF Matrix.
Rothaermel, F.T., 2015. Strategic management. McGraw-Hill Education.