Research and update the case Information as much as possible with current research, and then conduct a comprehensive SWOT analysis for Mistine. Strengths: Mistine strengths are In Its high quality products, efficiency, selling and marketing techniques. The company uses international standards in its product and ingredient selection, ensuring quality that consumers can trust. They build a customer base, trust and encourage product switchover by offering full refunds or product replacement if dissatisfaction occurs.
The selling method of direct by way of district managers and sales reps Is a strength as it continues to grow and builds more intimate relationships between the sales force and the buyers. Mistine uses clear marketing techniques of magazines and mass media advertising Instead of relying too heavily on word of mouth. Celebrity actors create product buzz and strengthens its reputation as a solid, successful company. It’s clear marketing demographic of working, educated, and professional women help the company focus its marketing efforts in a clear direction.
Efforts to expand globally has greatly increased sales and brand awareness. Focusing on efficiency and organizational Improvements means Mistine can handle a high number of selling periods with quick turnovers and higher levels of sales. Its loyalty programs and mission for positive attitudes and pledge to make the company number one together makes employees in line with company goals. Rewards such a cars draws in prospective sales reps and managers. Finally, Mistine’s pricing techniques that match the income levels in the demographic and geographic areas they sell make It affordable and accessible for everyone.
Weaknesses: Mistine’s extreme and fast paced growth has a few weaknesses and reas for Improvement. Focusing too narrowly on women, and Aslan women, alienates many other markets and demographics as potential customers for Mistine. Also, as the direct selling company is many sales reps second Jobs, the high turnover is expensive for Mistine in training resources and causes lower employee loyalty levels. Although the organization is currently improving itself to raise employee retention It needs to do more to make reps and managers see the company as their career and full-time focus.
Also, Increasing Its pricing as the recession ends could take away the buying potential for many customers whose Income has not Increased. This would weaken the company’s mission of providing affordable products. Oil dependency in its products is also very problematic. Not only is this not an environmentally conscious ingredient, scarcity of resources and political and geographical considerations with oil make it a highly unstable ingredient to be dependent on and could drastically lower revenues If It were to be restricted or hard to obtain.
Opportunities: Mistine development of several products a month means the company will continue to expand and shift with the times and changing trends nd developments. Expansion and exportation into global markets has the opportunity for infinite growth, and the continuation of modernizing the company through advertising with popular celebrities and expanded products lines will also provide Mistine with huge growth and new market opportunities. The direct selling method being a success even In the recession with successful marketing and pricing economic climates.
Increased prices as a result of increased salaries of its target consumers will give Mistine higher budgets to continue successful mass marketing strategies. Threats: For starters, the company’s rapid product development and expansion of its cosmetics and personal care line into the “Friday’ collection has the potential to backfire in its focus to provide consistent and quality products. Too many products can weaken the company by pulling it in too many directions, especially if products that have not been properly tested start to fail or are in poor quality as the result of trying to get new products to buys as quickly as possible.
Offering full refunds and replacements are great marketing techniques but could backfire financially if ever utilized by too many consumers. Mistine’s competitors are also global organizations with huge resources, strong reputations, and many mass marketing campaigns of their own. These strong competitors will continue to be a huge threat for Mistine and source of constant challenge to distinguish themselves as the better choice to prospective buys and employees alike.
Political, environmental, and demographic situations and unrest could be a potential threat as there are some countries with unstable climates Mistine is working in and or considering expanding in to. Oil in this same context could threaten Mistine’s ability to produce its many products. After review of current information on Mistine, they have continued to expand and grow on a global level. They are now the “number one cosmetic in Thailand” (http://www. mistinecosmetics. com/about. php).
Their website boast several global awards in brand name, product quality, and sales achievements. They now boast over 10,000 products all over the world, have recently built a new distribution center, and provide certifications to continuous improvements on their importing and exporting of products. Mistine looks to triple its sales in the next three years as it is entering Southeast Asian companies and works with the Asian Economic Community (AEC) (http://www. nationmultimedia. com/business/Better-Way-has-big- plans-for-Mistine-in-Asean-mark-30174717. html).