Peer review Assignment | College Homework Help

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Recommendation

According to a review done on the existing market of sportswear in Lincoln, NE through a rigorous exercise of a 50-point inspection, opening a shop in Lincoln, NE is a high risk due to the following analysis. Most of the sportswear firms are already established, and reviews are done to show that the demand for quality service from the customers is on another level. Several sports are played in Lincoln, NE; hence the startup for this venture is a large sum of capital; hence can be a limiting factor if you don’t have enough capital. Leading companies have really diversified into the business and have even branded their merchandise; hence a new brand has also to factor the branding at an extra cost (Burton & Trotter, 1966). In a developed area of similar well developed and structured companies, many small businesses thriving or new businesses opening up may not survive well, and especially new businesses opening may take a while before they finally get the customers’ loyalty. Regardless of how the operation is structured, and the management is willing to sacrifice both finances and time to advertise and provide unique services, it will have strains before it finally gains stamina.

Using the BLUF approach that answers the five W’s who, what, where, when and why for business review to make recommendations more understandable as to the decision is made so saving on time and money to be used for further research (Wright, 2019). There are several sportswear companies in Lincoln, NE, starting from the biggest company Nike, Columbia Sportswear Company, the North Face, and Gap. All these companies are well established and are so much competitive since they have a wider market and already have established customer loyalty. Competing with these companies for customers who visit on vacations is quite a tough thing to do. They already have tactics on how to advertise their products and have enough finances to drop the cost of their products at any time they wish to attract more customers. Using the competitor matrix with SWOT analysis, we analyzed the Strengths, Weaknesses, Opportunities, and Threats.  The company had more weaknesses than strengths as well as threats than opportunities. The existing companies had a better reputation, the best unique products and services, better financial positions, and channels than us, and they would also develop innovations better than we would.

The future outlook was to invest in a different company rather than sportswear. The best company that would suit in Lincoln, NE would be a retail company or invest in real estate. Several retail spaces are available in Lincoln, NE, and the continuous population increase can boost the financial success of the Orio Company investment in retail.

Summary

Since Lincoln, NE has the best destination and favors sports, it is easy for any investor to feel obliged to open such a kind of investment. However, developed sportswear companies are many and pose great competition for this company; hence cannot live room for any new company to survive.  According to competitors matrix, this company has high competition and, therefore, not likely to be successful. Instead, the company should think of opening another business.

References

Burton, A., & Trotter, V. (1966). EC66-2208 Easy Fashions for You. https://digitalcommons.unl.edu/extensionhist/3984/

Wright, M. (2019). Strategic Audit of Adidas. https://digitalcommons.unl.edu/honorstheses/135/