For small and medium entrepreneurships (SMEs), surviving in the environment of global competition, where organizations of a much larger caliber utilize all available strategies in order to retain their influence and power, is a massive challenge. For “Wish You Wood,” the decision to partner with Amazon seemed like a stroke of luck and an important boost in marketing, yet the dishonest methods that Amazon has been using to attract customers to its site may ultimately lead to “Wish You Wood’s” demise. Therefore, to retain its customers and keep its revenue streak unchanged, “Wish You Wood” will need to cease partnership with Amazon, pulling its trademark products off the site, and consider seeking other opportunities for retail alongside with a media press release announcing its decision to part with Amazon.
Currently, “Wish You Wood” is experiencing the development of dependency on its partner Amazon due to the shift in the leadership and management approaches, as well as a drastic transformation of “Wish You Wood’s” supply chain. Applying the SWOT analysis to the context of “Wish You Wood’s” performance, one will notice a significant loss of agency in the company’s management of its pricing strategy and the control of its sales.
Table 1. SWOT Analysis for “Wish You Wood”.
As Table 1 above shows, “Wish You Wood” currently needs to build greater independence and control over its supply chain. The described change can be pursued by revisiting the firm’s current approach toward allocating finances and temporarily investing into the restructuring of its supply chain. Specifically, the focus on building an online presence will be needed. As soon as the specified shift in the arrangement of “Wish You Wood’s” resources occurs, the organization will need to pour a substantial portion of its resources into the creation of an official site, effective online product delivery system, and a marketing approach that will immediately attract new customers to the company (Granata et al., 2019).
Specifically, the use of the branding approach that will emphasize the company’s authenticity and uniqueness will be needed to ensure that it is clearly visible among its competitors (Granata et al., 2019). Moreover, in order to keep customer satisfaction rates high, “Wish You Wood” will need a digital app that will help the target audience order toys and track down their delivery, as well as submit feedback and communicate with the support team. Thus, “Wish You Wood” will be able to thrive without Amazon.
For “Wish You Wood” to retain its competitive advantage represented by the uniqueness of its products while also keeping the revenue at the required rate, the organization will need to seek other retail option, severing ties with Amazon. The specified decision should be supported with a media announcement and the following promotion campaign aimed at attracting customers to the company’s new location. Thus, the key constituents of the firm’s marketing framework will remain in place.
The results of the analysis have provided vital insights for me and my future career. Specifically, the case has demonstrated that relying on complete honesty and transparency in the global context, especially between a SME owner and a major corporation, is quite naïve. Therefore, SME owners should develop independence and resilience, while also maintaining the focus on the actions of their business partners. The described experience can be applied to my career as a cautionary message when building ties with global partners and attempting at advancing in the global market.
Reference
Granata, G., Moretta Tartaglione, A., & Tsiakis, T. (Eds.). (2019). Predicting trends and building strategies for consumer engagement in retail environments. IGI Global.