Can you help me do the analysis of TOWS Matrix? This is my TWOS table and please explain every points in details. Please also provide in-text citations and references too. Please expain in 600 words.
I also provide you a sample in image how to do so you can take a reference from there.
Sheng Siong Singapore
Opportunities
Threats
Strengths
SO:
1. Since Sheng Siong is already a strong brand recognition, it can expand product offerings to attract more customers (S1, O1)
2. Develops new features for an existing Sheng Siong app to keep the update and follow the trends of products with technology advancements (S4, S5 and O2)
3. As Sheng Siong is recognized as a strong brand, it is easier to expand retail network in Singapore by opening new stores in central areas (S1, O4)
4. It is easy to do international expansion because of Sheng Siong’s brand recognition (S1, O3)
ST:
1. With an increment in intensity of competition amongst the rivals and Sheng Siong having a strong branding with a high brand awareness can still appeal to the target market with ease (S1, T1)
2. Implementing a promotional strategy and offer competitive pricing to match customers’ preferences and shopping behaviours (S4, T2)
Weaknesses
WO:
1. Sheng Siong being a supermarket retailer, can come up with their own signature sustainable products to penetrate the market of customers looking for more range of products and services (W4, O1)
2. Expand the retail network in Singapore by opening new store in heartland areas or in shopping malls and offering more products and services to attract customers and overcome the limited range of offerings compared to other supermarkets (W4, O1, O4)
WT:
1. Diversify the sources of supplies and invest in supply chain management to mitigate the impact of fluctuations in commodity prices and supply chain disruptions, while also enhancing customer satisfaction by addressing the issues raised in customer dissatisfaction reviews.
Transcribed Image Text:TOWS Matrix
Shopee Opportunities
Singapore
Strength SO:
1. Word of mouth as brand
awareness is already high to help
into expansion (S1, 03)
2. Develop new feature for the
existing apps such as Al, to keep
up with the trends of technology
advancement (S4, S6, 04)
3. With an increasing trend of growth
in the market size of online
retailing for both buyer and
sellers, Shopee can appeal to this
new group easily with their high
brand awareness and strong
brands (S1, S2, 01)
Weakness Wo:
Shopee being an eCommerce
online retailer, can come up with
their own signature sustainable
products to penetrate the market
of customers looking for
sustainability. (W1, W3, O2, 01)
2. Shopee can capitalize the
technology advancement to tackle
the current weakness where
during sales, Shopee's website
will tend to face a down time due
to the large traffic of users. (W4,
04)
Threats
ST:
1. Implement a strong anti-cyber-attack
application to deter hackers (S6, T5)
2. Implementing a promotional strategy
and collaboration with physical
stores to entice consumers to
browse at physical stores and
purchase through Shopee. (S3, S5,
T4)
3. With an increment in intensity of
competition amongst the rivals and
Shopee having a strong branding
with a high brand awareness can
still appeal to the target market with
ease. (S1, S2, T1)
WT:
Table 1: TOWS Matrix
1. Implement strategies to punish
sellers that sells counterfeit goods,
scamming of buyers to help
differentiate themselves with the
increment in intensity of competition
amongst Shopee's competitors (W2,
W3, T1)
Investing in collaboration with
physical stores to attract potential
consumers moving away from online
retailing after pandemic (W3, T4)
Analysis of TOWS Matrix (Selected Options)
TOWS Matrix is used to examine relationships between internal and external factors, finding
out how they influence each other, allowing the company to gain an insight of how they can
use their strength to take advantage of the market opportunities or correcting important
weaknesses to counter against potential external threats.
Based on the TOWS Matrix, the strategic options that was adopted was firstly, Shopee can
consider developing new features on their website or application such as AI, with the help of
new technological advancement and having a strong technology development team [SO2:
S4,S6,04] to ease and deter the down time during their many sales period such as 10.10,
11.11 sales [WO2: W4,04], or the AI that was implemented can be used to be focused on
customer service where automated responses can be used to help with customer services. This
helps improve the fluency of the website or mobile application. Some examples of AI that
can be implemented would be using "Things Translator" by Dan Motzenbecker where it
allows users to scan an item and the AI will tell you what item it is, it is useful for its users in
cases like, recommendations from friends but they themselves are unsure of what the item is
called, or looking at a item while they are overseas and are interested in buying but unable to
due to the size of the item or the name of the item in their language, they can scan the item
through Shopee and order it online while they are back at home.
Additionally, with Shopee being at the top of eCommerce online retailing in the industry and
having a strong brand with high awareness Shopee can consider implementing selling house
brand product on their website to help gain a competitive edge and differentiation from their
competitors, and with an increment in consumers looking for sustainable products, Shopee
can consider implementing and creating a unique signature product to sell on their own online
retailing website. [WO1: W1, W3, 02, 01] Even with the increment in intensity between the
competitors and Shopee, and Shopee decided to sell sustainable products of their own brands
and differentiating themselves with their competitors, Shopee's strong branding and high
brand awareness will contributing to the success of the product as consumers tends to also
look for brands that they can trust. [ST3: S1, S2, T1] Some sustainable products that Shopee
could consider selling are, T-Shirts made from natural, organic, and biodegradable options
such as organic cotton, TENCEL Lyocell. (Batista 2022)
With a strong promotional strategy, one promotional strategy that Shopee can consider
utilizing would be to target the market of consumers moving away from online shopping to
traditional shopping of browsing at physical stores. The promotional strategy would be to
partner up with brands that have their own physical stores and at the same time being a seller
in Shopee. Brands such as Logitech, Razer, or clothing brands such as Zenzi whom is a seller
at Shopee (Figure 1) and having a physical store in Singapore (Figure 2). [WT2: W3, T4]
Reasons that Singaporeans will revert back to traditional shopping was, having the ability to
touch and feel the product and accessing the size and fits before purchasing (Singapore
Business Review 2022) As such, collaborating with brands such as Zenzi, and coming up with
promotional strategy like allowing the consumers to still visit physical store to look and feel
the materials of the product and purchasing it online through Shopee. [ST2: S3, S5, T4].
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![TOWS Matrix
Shopee Opportunities
Singapore
Strength SO:
1. Word of mouth as brand
awareness is already high to help
into expansion (S1, 03)
2. Develop new feature for the
existing apps such as Al, to keep
up with the trends of technology
advancement (S4, S6, 04)
3. With an increasing trend of growth
in the market size of online
retailing for both buyer and
sellers, Shopee can appeal to this
new group easily with their high
brand awareness and strong
brands (S1, S2, 01)
Weakness Wo:
Shopee being an eCommerce
online retailer, can come up with
their own signature sustainable
products to penetrate the market
of customers looking for
sustainability. (W1, W3, O2, 01)
2. Shopee can capitalize the
technology advancement to tackle
the current weakness where
during sales, Shopee's website
will tend to face a down time due
to the large traffic of users. (W4,
04)
Threats
ST:
1. Implement a strong anti-cyber-attack
application to deter hackers (S6, T5)
2. Implementing a promotional strategy
and collaboration with physical
stores to entice consumers to
browse at physical stores and
purchase through Shopee. (S3, S5,
T4)
3. With an increment in intensity of
competition amongst the rivals and
Shopee having a strong branding
with a high brand awareness can
still appeal to the target market with
ease. (S1, S2, T1)
WT:
Table 1: TOWS Matrix
1. Implement strategies to punish
sellers that sells counterfeit goods,
scamming of buyers to help
differentiate themselves with the
increment in intensity of competition
amongst Shopee's competitors (W2,
W3, T1)
Investing in collaboration with
physical stores to attract potential
consumers moving away from online
retailing after pandemic (W3, T4)
Analysis of TOWS Matrix (Selected Options)
TOWS Matrix is used to examine relationships between internal and external factors, finding
out how they influence each other, allowing the company to gain an insight of how they can
use their strength to take advantage of the market opportunities or correcting important
weaknesses to counter against potential external threats.
Based on the TOWS Matrix, the strategic options that was adopted was firstly, Shopee can
consider developing new features on their website or application such as AI, with the help of
new technological advancement and having a strong technology development team [SO2:
S4,S6,04] to ease and deter the down time during their many sales period such as 10.10,
11.11 sales [WO2: W4,04], or the AI that was implemented can be used to be focused on
customer service where automated responses can be used to help with customer services. This
helps improve the fluency of the website or mobile application. Some examples of AI that
can be implemented would be using "Things Translator" by Dan Motzenbecker where it
allows users to scan an item and the AI will tell you what item it is, it is useful for its users in
cases like, recommendations from friends but they themselves are unsure of what the item is
called, or looking at a item while they are overseas and are interested in buying but unable to
due to the size of the item or the name of the item in their language, they can scan the item
through Shopee and order it online while they are back at home.
Additionally, with Shopee being at the top of eCommerce online retailing in the industry and
having a strong brand with high awareness Shopee can consider implementing selling house
brand product on their website to help gain a competitive edge and differentiation from their
competitors, and with an increment in consumers looking for sustainable products, Shopee
can consider implementing and creating a unique signature product to sell on their own online
retailing website. [WO1: W1, W3, 02, 01] Even with the increment in intensity between the
competitors and Shopee, and Shopee decided to sell sustainable products of their own brands
and differentiating themselves with their competitors, Shopee's strong branding and high
brand awareness will contributing to the success of the product as consumers tends to also
look for brands that they can trust. [ST3: S1, S2, T1] Some sustainable products that Shopee
could consider selling are, T-Shirts made from natural, organic, and biodegradable options
such as organic cotton, TENCEL Lyocell. (Batista 2022)
With a strong promotional strategy, one promotional strategy that Shopee can consider
utilizing would be to target the market of consumers moving away from online shopping to
traditional shopping of browsing at physical stores. The promotional strategy would be to
partner up with brands that have their own physical stores and at the same time being a seller
in Shopee. Brands such as Logitech, Razer, or clothing brands such as Zenzi whom is a seller
at Shopee (Figure 1) and having a physical store in Singapore (Figure 2). [WT2: W3, T4]
Reasons that Singaporeans will revert back to traditional shopping was, having the ability to
touch and feel the product and accessing the size and fits before purchasing (Singapore
Business Review 2022) As such, collaborating with brands such as Zenzi, and coming up with
promotional strategy like allowing the consumers to still visit physical store to look and feel
the materials of the product and purchasing it online through Shopee. [ST2: S3, S5, T4].](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7158b0c6-6d31-458f-9482-a343b798e9bf%2Ff77baf9d-5b82-4201-95f5-adc2ffcfba8b%2F6uwwc9k_processed.png&w=3840&q=75)
