BUSINESS PLAN_A GENERAL OVERVIEW

7.4 Swot Analysis for Competitors
Competitors Strength Weakness
MIR Craft’s Fully managed by
experts.
Located in Station
18 which customer
Located at an
industrial area in
Ipoh.
at Meru find in
convenience in
frequent
Have good facility
and a huge shop.
ELMO Craft’s Large sales
volume every year
Office situated in
Taiping which is far
from the meeting
place of people
and difficult for
customers to
frequent
7.5 SWOT for The Memories Bracelet
Strength
• Our products is limited edition.
• Provide various craft products.
• Cost for getting our products is low
compare to the competitors.
• Customer can request their own
design or they can choose our
design.
Opportunities
• Add more handicraft product such
as glass-painting, printing banner,
business card and others.
• Expand our business to other
places.
• Supplier to our products so the
cost can be reduced.
• Hire worker that have background
education in art and design.
Weakness
• New company in craft industry.
• Need to make a lot of
promotion.
• Not enough resources from
supplier.
• Out-to-date handicraft.
• No branding.
Threats
• Decrease of people interest to
handicraft products.
• Unexpected risk such as pick
pocket, stolen products, fire and
others.
• Well-known competitor
companies.
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