SWOT Analysis Marketing 1030 Professor Ledesma

Group Members: Mollie Lyon Chelsea Hopkins Oswaldo Rosas Sanchez Ardell Rainwater Jessica Williams

03/06/2013 MY GROCERY

03/06/2013 MY GROCERY

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Company Overview MyGrocery takes the mundane and stressful task of grocery shopping into a simple, enjoyable activity! By placing orders through our app or online, customers are able to save time to enjoy the things that really matter in life, rather than wasting mass amounts of time doing tedious grocery shopping.

Owners and Employees MyGrocery is owned equally by Mollie Lyon, Chelsea Hopkins, Oswaldo Rosas Sanchez, Ardell

Rainwater, and Jessica Williams. At the groundbreaking stage of the company, MyGrocery will be primarily run by its owners. However, we do plan on hiring at least two technology experts to assure our website and app both run smoothly to create an easy-to-use platform with limited technical difficulties.

We will be coordinating directly with the grocery store and their employees, so our employee count will stay low and eliminate direct cost to the company.

Owner Stocks in MyGrocery Ownership Percentage

Mollie Lyon 20%

Chelsea Hopkins 20%

Oswaldo Rosas Sanchez 20%

Ardell Rainwater 20%

Jessica Williams 20%

Location and Business Hours MyGrocery headquarters will originate in Oswaldo’s home office to save on our starting overhead.

MyGrocery will start locally in the Harmon’s located at 135 E 100 S, Salt Lake City, UT. We choose this location due to the fact that it is in an upscale area of the city that receives a lot of traffic. Over time, we will move to provide services in other stores throughout Salt Lake City and eventually grow to additional locations.

Customers can place orders 24 hours a day, 7 days a week through our convenient app and/or website. However, pickup times will be during the normal business hours for the particular store they are shopping at. Customers can choose to pick up their orders as soon as possible or have orders available at a later time or date. For our starting location, Harmon’s, they are open from 6:00 AM to 11:00 PM.

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MyGrocery Analysis Table

Strengths

1. Easy-to-use 2. Little to no competition 3. Wide range of customers/Large

demographic 4. Building off of established businesses 5. Saves time 6. Advertising profits 7. Mobile use through app and website 8. Low overhead cost 9. Well-organized 10. Ability to network easily

Weaknesses

1. Little to no experience 2. Unexplored market 3. “It’s a want, not a need.” 4. Tight budget 5. People may not want to pay monthly

membership fee 6. Use of technology may detract from our

senior target market 7. No current awareness about this type of

service 8. Lacks human interaction (i.e. sales

associates, etc.) 9. People can’t see what they’re buying (i.e.

Individuals who like to check their product 10. Difficult for customers to check for order

accuracy

Opportunities

1. Advertising 2. Partnering 3. Senior shoppers 4. Busy moms 5. Disabled shoppers 6. Busy students 7. Businesses 8. Promotional holidays/other (i.e. Solving

gift problems; providing convenient package deals)

9. Growth into markets other than grocery 10. Delivery option

Threats

1. People doing their own shopping 2. Other grocery stores could start offering

similar services 3. Copycat apps 4. Technology glitches and technical

difficulties causing inability to use app 5. Weak economy (i.e. Individuals wanting

to save money may just go to the store) 6. Can’t keep up with demand/growing too

quickly 7. If app becomes too complicated or too

difficult to use 8. Trouble getting stores to participate 9. Bad reviews/angry customers 10. Poor customer service at store may reflect

poorly upon us.

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Recommendations • Improve Office Space

o Once our company is breaking even or making a profit, we will attain a larger office space so that we have a professional location to meet with potential clients. This will help us get into larger corporations and help present a more professional front for other businesses to take us more seriously as a company.

• Expand Locations

o At the beginning, MyGrocery will expand to other local groceries, such as Smith’s. This

will give our customers more options for products and will help create additional partnering opportunities. This will allow us to offer more discounts and promotions as we grow to work with more grocery stores. In time, we will also expand to corporations such

as Walmart. Because such corporations have an international presence, we will have the ability to expand our business to more than just local locations.

• Offer Delivery Option

o Once MyGrocery is established, we will determine if delivery is a feasible option. This will allow us to extend to other target markets more, such as the disabled or homebound, and bring in additional revenue from our service.