SWOT Analysis
Strengths
1. Low-cost transportation services
One of the key strengths of Bonfire Transit is that the transportation services rendered by the company will be low-cost and economical to the consumers. Therefore, this is bound to make the company become the to-go-to and relied upon means of transportation.
2. High-Quality
Bonfire Transit prides itself in using transportation means of high quality. Not only are the vehicles imported and of the best quality, the vehicles used for transportation are constantly checked for effectiveness and taken through servicing. This guarantees that the vehicles are not only road-worthy but also safe and effective.
3. Consumer satisfaction
Bonfire Transit provides quality transportation services with a great satisfaction. Bonfire Transit drivers together with the management staff truthfully care about their clients and go to great lengths and ordeals to satisfy the needs of the passengers. It is imperative to note that this high magnitude of service quality is a significant factor in the provision of transportation service in such a remote setting. The consumers have to be self-assured that the transportation providers will not leave them stranded when in need of services.
4. Loyalty in ridership
One of the key strengths of Bonfire Transit includes the loyalty in enjoys in ridership. At the present moment, the community in this rural region does not have any accessibility to public transportation. The area lacks buses, taxis, trains as well as light rail. More specifically, 5 percent of the populace in the college comprises of international students who do not drive and also reside within the vicinities of the campus. Therefore, the college students as well as the staff are largely reliant on the transportation services rendered by Bonfire Transit.
Weaknesses
1. Perception of services rendered
One of the key shortcomings faced by the company takes into account the double-edged sword of one of the strong suits. Despite the fact that college students constitute the fundamental consumer base and passengers of Bonfire Transit, there is a likelihood that expansion of the prospective passengers will be limited by the communitys perspective of the services rendered as a college-student service only.
2. Restriction in service use
The services rendered by Bonfire Transit will evolve and develop around the interests, demands, inclinations and necessities for travelling for the college students and personnel within Versailles College, which is a limitation to the usefulness of the transportation service to additional transport consumer markets.
3. Lack of funding
In order to provide and make available the transportation service that will be satisfactory to both prevailing and prospective passengers, Bonfire Transit will necessitate considerably prolonged streams of revenue. The company does not have significant capital for the expansion of its business operations.
4. Lack of community awareness
Another weakness that Bonfire Transit faces is an overall lack of community awareness. A majority of the residents within the college vicinity are not cognizant with the local transit services accessible to them by the company. This limits the extent of ridership for the transportation in a daily and weekly basis and therefore limiting the revenue generated
Opportunities
1. Lack of public transport
At the moment, the college does not have any public means of transportation. There are no buses, taxis, trains, or light rail. Bonfire Transit has the opportunity to maximize this transport absence to become the sole public transportation means within the vicinity
2. On-Campus Students
The college comprises of international students who make up 5 percent of the total population of the students. These students live within the campus and do not have any vehicles for personal transportation. Therefore, these are consumers that will rely on the transportation means made available by Bonfire Transit
3. Lack of public amenities
The college does not have any shopping malls, grocery stores,...
…project of the team liable for
business analysis.
5. In order to remain competitive and generate increased revenues and profits, Bonfire Transit will create and develop new products and services incessantly. An evaluation of any new product or service offering by Bonfire Transit will be undertaken every three months to ascertain whether it continues to be profitable or not. In addition, the expenses incurred in product development will be disseminated over a period of two years based on financial quarters. This information will be compared against the gross income generated by the company in the course of the similar period of time.
Monitoring Procedures
To examine the efficacy of Bonfire Transits marketing plan, it is pivotal to make a comparison and contrast between the plan goals and objectives and the actual performance. In order to make this possible, monitoring procedures and processes will be developed for the different activities necessitated to bring the marketing plan into an actuality and become successful. The monitoring procedures will comprise of the following:
1. The conception of project management will be utilized to assess the execution of the marketing plan by instituting time constraints and requirements, human resource necessities, as well as financial outlays and expenses
2. An incessant and perceptible comparison of the planned or predetermined activities against the activities that actually take place will be undertaken on a monthly basis for the initial financial year. Subsequently, the comparison will be undertaken on a quarterly basis once the execution phase is undertaken. The management team of Bonfire Transit, especially the marketing manager and director will present and explain the reports of the actual and predetermined results directly to the chief executive officer of the company.
3. Every project team is accountable for ascertaining what changes ought to be undertaken in processes, product emphasis, or business operations owing to the analysis…
