Perfect 10 Antenna Company
PerfectVision (Perfect 10) is a debt-free company that provides value-added services to its products. However, the company lacks design and other features in its online shop. The company's SWOT analysis and insights regarding how e-commerce solutions may help to solve its challenges, are provided below.
PerfectVision: SWOT Analysis
- PerfectVision is debt-free. This is beneficial because it helps them generate revenue more efficiently and increase cash flow.
- Their "vertically integrated business model" gives them a competitive advantage and is the principal cause of their success. This business model takes away unnecessary costs and third parties from the equation.
- The company provides value-added services such as pick and pack, assembly, custom palletizing, and order consolidation.
- It supports a wide range of industries, including broadband, retail, satellite TV, telecom, and healthcare, among others.
- Several reviews from employees reveal that there are small chances of growth in the company, as well as bad communication and a hostile work environment.
- Their Instagram account has only 90 posts and less than 500 followers. Their first picture was posted in 2016 and, since then, the account seems quite inactive and not very engaging as their posts do not reach more than 20 likes. This reflects that the company is not aware of the impact Instagram can have on consumers.
- The company does not take advantage of their Facebook and Twitter pages. Their Facebook page has only 119 followers and their last post is from June 2019. Their Twitter page has only 108 followers since it joined this platform in 2014.
- Overall, the company's marketplace lacks design and improvement in product image size and quality. This could drive away consumers when making purchase decisions.
- The company's marketplace does not include any consumer reviews for each product. Including reviews is a way to attract more customers as it builds trust.
- The antenna market was valued at $21.32 billion in 2019 and is expected to reach $31.79 billion by 2025, with a CAGR of 6.96%. This is driven by the demand for faster data transmission for communication systems. This demand is an opportunity for the company as it could enhance its sales on antennas.
- Higher disposable incomes motivate consumers to buy smart devices that require mobile internet connections. This rise increases the demand for wireless services and products, which translates into an opportunity for PerfectVision.
- According to consumer surveys, buyers prefer to purchase everything online and even want to use digital channels to contact customer service. Since the company offers to purchase their products online, this trend could be an opportunity for them to enhance their online shop.
- As the trade-weighted index (TWI) increases, imports become more affordable to US buyers and industry exports become more expensive to foreign consumers, which affects domestic wire and cable manufacturers. If the value of the dollar remains high, it poses a potential threat to the wire and cable manufacturing industry.
- Perfect Vision is also part of the wireless communication industry. The technical issues related to connectivity and network could restrain the growth of the market and pose a threat to the wireless communication industry.
- Also, the lack of infrastructure in rural areas is a threat to the future growth of the global wireless communication market.
How E-Commerce Solutions May Solve the Identified Challenges
Enhance the Online Shop Design
- One weakness that the company has in its online shop is the lack of design and poor quality of product images. E-commerce solutions may help tackle this problem, as it would help to solve this problem by providing design ideas and assessing problems.
Provide Digital Marketing
- PerfectVision does not seem to have a digital marketing strategy, as its social media sites have a lack of posts and engagement. E-commerce solutions would help to provide a digital marketing plan to address this problem and convert visitors into buyers.
Reach and Attract New Customers
- Due to the constant threats that the industries that PerfectVision is part of (increase in TWI and technical issues), the company will always require new customers. By addressing both the design and digital marketing, e-commerce solutions would help to reach and attract new customers.
Monitor Consumer's Behavior
- E-commerce solutions constantly monitor consumer's behavior. This would also help the company to reach new customers as it would have the necessary data to make specific changes or enhancements in the marketplace to appeal to more buyers and avoid being affected by industry threats.
Optimize Marketplace to Include Reviews
- Another weakness identified is the fact that the company's marketplace does not include reviews on any of its products. E-commerce solutions would help to fix this problem by adding features on the site to include customer reviews, hence improving customer trust and obtaining feedback.