Introduction
SWOT Analysis of Wiley Fox will be analysed in this report. SWOT analysis of Marketing and SWOT analysis of R&D at Wiley Fox will be discussed in the report. In addition to the main sections, some other supporting sections, such as the introduction and conclusion, have also been compiled. The below study has found that the marketing department of Wiley Fox plays a significant role in increasing the brand value and popularity of the market to the target audience. The R&D section also plays an important role in bringing new innovations and thus contributes to organizational development.
SWOT Analysis of Wiley Fox
SWOT on Marketing of Wiley Fox
SWOT will assist Wiley Fox in identifying its strengths, weakness, threats and opportunities. They will be capable of utilizing strengths and opportunities furthermore prevent weaknesses and threats to foster their business growth.
Strengths: One of the key strengths of the company is its incredible price point. Wiley Fox sells their products at a lower cost than its competitors (Forbes, 2015). This marketing strategy assists the company in attracting more customers toward them. Another strength is Wiley Fox does not compromise its quality in order to reduce the price. As a result, customers become loyal to the company because they get desired products within their budget. Wiley Fox stays in the spotlight by maintaining relationships with media through giving handset reviews (Think/Feel/Do, 2020). This marketing strategy assists them in staying in customers’ minds and keeps informing everyone about their mobiles. It also encourages customers to purchase their smartphones. Wiley Fox uses Facebook and other social media for brand promotion (Facebook, 2020). It reduces their marketing cost and can invest the saved cost in other needed sectors.
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Weakness: The strongest weakness of the company is the lack of capabilities in conducting and offering high-end and extensive research. Research and development in the smartphone industry require huge investment and capabilities, which the company doesn’t have. Wiley fox is a new smartphone brand. Therefore, the company’s marketing strategies are less developed than those of established companies. The company’s marketing team has less experience. Therefore, they cannot develop marketing strategies, which decreases the company’s customer base. The brand value of Wiley Fox is weak because new brand people do not trust the which trust they have in established brands. As a result, they are unable to increase customer rates highly.
Opportunities: Wiley Fox has assigned a famous marketing agency, Think/Find/Do, to lead communications and social media for their European phone launches (Think/Find/Do, 2020). It ensures the maximum engagement of audiences, which will help Wiley Fox to increase its sales in Europe and create demand. Its marketing strategy of value-for-money attracts new customers toward its products because customers get high-spec handsets and customisable OS at a reasonable price. Wiley Fox sells their mobiles online through their own stores and partners such as Amazon, eBay, JD, Souq, Clove and Expansys (Mobile World Live, 2015). Online shopping has increased enormously, and it will encourage customers to purchase Wiley Fox mobiles because customers do not need to visit shops to purchase mobiles.
Threats: Brexit issue will affect all kinds of industries, and the GDP of the UK will also reduce (BBC News, 2020). Wiley Fox will also be affected by the Brexit issue. For example, the company will not get any foreign investment to expand its business. Therefore, the company will not be able to survive in the Europe market, which market was the key target of the company.
SWOT Analysis of Wiley Fox
SWOT on R&D of Wiley Fox:
Wiley Fox invests in Research & Development sector to develop its products and deliver value for money. The SWOT analysis of the R&D of the company has been evaluated below:
Strengths: Wiley Fox makes smartphones with the latest Android Oreo 8.1, which was invented by their R&D team (Wiley Fox, 2019). Swift 2 X has an incredibly sharp 5.2’’ Full HD ISOCELL display that delivers an exceptional viewing experience to its customers (Wiley Fox, 2019). Crystal clear view of the phone is because of the 180p resolution and 424ppi, which is protected with Corning Gorilla Glass 3 and smudge-resistant oleo phobic coating (Wiley Fox, 2019). As a result, the screen remains protected and does not get hampered when falling down, and it creates high customer gratification. The picture quality of the mobiles is outstanding because of the 16MP Samsung sensor primary camera with ISOCELL technology (Wiley Fox, 2019). This outstanding picture quality has created so many customers the mobile because the camera is one of the main focuses of Android phones.
Weakness: Wiley Fox has to lacks investors. Therefore, they have less amount to invest in the R&D sector in comparison with their competitors. For example, one of the best mobile manufacturers, Huawei, has invested $1.5 billion for its next five years (CNBC, 18 September 2019). Therefore, Wiley Fox is unable to bring the latest Android like the competitors.
Opportunities: The gaming industry is expected to have a 12% CAGR within 2020-2025 (Mordor Intelligence, 2020). Wiley Fox will be able to capture the growing gaming market by developing their mobiles with a high-speed game-supporting system because it will attract customers who like playing games through mobiles. Using apps on mobiles is also increased enormously. Therefore, the company should make the latest features phones which will be able to support large sizes of apps. It will increase their sales highly.
Threats: UK market is possessed by Apple iPhone with a 43% share, and Samsung, Huawei, OPPO, HTC, etcetera are the key players in mobile manufacturing in the market (Statista, 2019). All these established brands have been competing with each other for many years and invest in R&D highly to beat each other’s products. Whilst, Wiley Fox, has short of capital and is a newcomer in the industry. The company will not be able to cope with the furious competition in the mobile sector and survive in the sector in future.
Conclusion
The strength of Wiley Fox is its incredible price that attracts customers toward their products because competitors of the company provide products with a higher price. It provides good quality compared to the price, and the company maintains relations with the media by giving their mobile reviews. These marketing strengths will help them to go far in the competition. But they have to find more investors to continue their business and ensure business growth by expanding business. Because of the Brexit issue, the company will not get any foreign investors. Therefore, it has to manage investors within its country. Smartphones with the latest camera, long crystal clear touch screen and other features are the success of their R&D, and they should continue investing in R&D to bring more latest mobiles to the market. The company will be able to capture high revenue if they manage investors and invest more in R&D. Wiley will be able to bring more latest mobiles by investing more in R&D which will make them more successful.