Boost Juice Bars is a food and beverage company that was established in March 2000 in Australia by Janine Allis. The first store of Boost juice was started in Adelaide, South Australia. The company is today serving in various countries through the franchise in Australia, Bangladesh, Brunei, Cambodia, Chile, India, Malaysia, etc. The major products served by the company are juices and smoothies of fruits and vegetables. The innovative products and services of the company have led to the success of the company with the motive of establishing more than 350 stores all over the world. The company is working in the field of health because an unhealthy lifestyle or obesity is affecting the quality of the overall lifestyle and economy of Australia. The health factors convince the customers to live a healthy and fit life while enjoying the tastes of life. The problem of obesity in Australia is generally faced by teenagers, this is the reason that 50% of total customers are students. With the increasing demand for hea
lthy products, the company is contributing to a wide range of products containing a good amount of proteins. These products may include energy drinks, snacks and other variety of flavors of juices and smoothies such as mint, veggie garden, immunity juice, wild berry juice, two and five juice, etc.
A SWOT analysis is the analysis of various factors that help the company to survive strongly in the market. SWOT stands for Strength, Weaknesses, opportunities, and threats related to the company. The internal analysis of the company enables the company to know about the strengths; the factors that provide an edge to the company over its competitors, weaknesses; the hindrances faced by the company in its functioning and operations. Opportunities to the company are the wider scope for development or expansion in the market. Whereas the threats are the potential problems that may arise in the functioning of the company. The opportunities and threats of the company can be ascertained by the analysis of the external analysis of the company. Thus, the company is required to carefully analyze the internal and external environment of the company in order to achieve organizational goals.
SWOT analysis of Boost Juice company is as follows:
Strengths: Boost juice company has an innovative idea of providing health products to its customers with taste. The company has the strength of providing unique products to cure the major problems of society like obesity and unhealthy lifestyle. With this uniqueness, the company is also having a wide distribution channel of supplying health products to a wide range of customer base over many countries around the globe. The company has used a very simple and effective marketing strategy to directly contact the customers through emails, further providing them with best customer services. The strong distribution system of the company has been acquired by licensing the franchise of the company in different areas.
1. The services and products offered are innovative.
2. The backup of financial resources is strong.
3. The system to expand shops is franchise based.
4. The name of the brand in Australia is strongly recognized.
5. Due to the popularity of the brand, customer loyalty is high.
6. The operations of the brand are expanded in 15 countries.
7. Advertising campaigns and promotions are conducted with a huge focus.
8. The customers are easily engaged by the company.
Weaknesses: The company also deals in eatables, that are perishable in nature, thus the company has to bear a large number of wastages every day. Further, increasing the cost of the company. The excessive cost of wastages in all the branches of the company will lead to major drainage of resources for the company. The company has acquired a major market of teenagers, that constitutes more than 50% of the total customer base of the company, thus the company is not able to focus on other segments of customers that provides efficiency to the company and more areas to increase the profitability. The company has witnessed that some customers demand hot drinks in summers and cold drinks in winters, which are not available in the alternative seasons. This is impacting the sales of the company; therefore, the company has to adopt some strategy to manufacture a suitable amount of both types of drinks to fulfill the demand and preferences of all the customers falling their feet in the bar of the company.
1. The cost of marketing is too much because of the strong focus on promotions and advertising campaigns.
2. In global markets, the brand is still not established.
3. In winter seasons, the sales drop.
Opportunities: Boost juice company is an international company; the company has expanded its business in Asian companies, helping the company to expand its market presence by intense marketing and various advertising activities. More products can be added to the product range of the company to earn more revenue and profits. The company is working on its branches established in Asia, to acquire the raw materials from Asian countries at lower rates. Also, the online business platform has helped in the increase in the number of sales and revenue of the company by working on the effectiveness of the distribution channel of the company.
1. The biggest opportunity is that there are no strong direct competitors.
2. The company can target the emerging Asian market.
3. The advertising and marketing should be increased via TVCs, print and online market.
Threats: Boost juice bars is facing high competition from the juice and beverage companies; Starbucks is the biggest competitor. There are many renowned companies all over the world who are competing with one another. Thus, they can affect the operations and sales of the company. so, Boost juice has to adopt intense marketing strategies to lead the market all over the world.
1. If the competition increases intensely, the market share will reduce and business will be affected adversely.
2. The cost of raw materials is increasing day by day.
3. Operations can be affected adversely with the fluctuating policies of the government and global currencies.
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Boost juice company is a beverage juice company that has diversified its business in various countries all over the world. The company has a major focus on the particular health segment in the market and the major constitution of the customer base of the company is of students. It is the major strength of the company because the students have more buying frequency. In order to manage the business to get the edge in the market, it is necessary to conduct a SWOT analysis as it provides deep and comprehensive knowledge of the internal and external environment of the company.
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