Springy Fields: An Entrepreneur’s Dilemma Case Solution
Tom’s target market
The target market of Tom’s recreational league was the rural community of spring field where he lived in a small southern Ontario city. About 125,000 population live there, they would only have to drive 20-30 minutes to acquire this facility to play in the springy field. The transient students from small to middle-sized universities, as well as from community colleges, but small demand from young adult students who had on-campus opportunities to access the recreational sports.
Characteristics of the target market
Following are the characteristics of Tom’s target market, such as: age, gender, social class, geographic and psycho-graphic(2017).
|Social Class||Middle-class people|
|age||20-30 years old|
|Psycho graphic||Motivated to drive 20-30 minutes|
Question No: 2
PESTEL Analysis for spring field
Various political groups have reached an agreement on the rate of taxation and investment strategies. Over time, the government has attempted to reduce the entrance hurdle in order to simplify the tax system.
The most important economic factor that tom should take into consideration before entering into a new market is the inflation rate, if there is a high inflation rate tom will not be able to stick toa cost leadership strategy.
A volatile Forex market can lead to failure, so Tom should focus closely on the forex inflows and outflows, as most of the competitors got failure and lost money in past.
Tom should take into consideration the motive of existing and potential customers behind joining his sports league means the buying behavior of customers.
Demographic fluctuations are a strong social indication for Tom Springy to forecast not just the overall economic pattern, but also demand for Tom Springy products amongst main consumer categories.
For Tom Springy, 5G has the potential to change the business environment, particularly in terms of marketing and advertising.
Speed will become more important than planning as artificial intelligence and machine learning become more prevalent. Tom Springy will have to devise tactics in order to operate in such setting.
Question No: 3
SWOT Analysis for spring field
The loyal customer base of this recreation league is the greatest strength. So the repeat purchase and word of mouth will increase the demand from these old loyal and new customers for Tom’s recreational league.
By looking at the balance sheet we can conclude the good financial position and potential for future growth.
The business model can easily be copied by other competitors in the market because it is easy to replicate.
Although Tom Springy’s financial statements are healthy.The company’s 5-7 percent earnings in the future may result in a lack of resources to invest in new ventures.
There is a lack of competition in summer because the summer reason last short so no any other competitor want to provide these services in summer.
Tom Springy can employ machine intelligence advancements to foresee consumer spending, appeal to specific niches and improve the personalization.
The global market has become more open as a result of globalization. Tom Springy is in a fantastic position to take full advantage of these changes and expand his customer base………………………….
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