WFNX-107.7 FM and Boston's Radio Wars SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Sales & Marketing
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of WFNX-107.7 FM and Boston's Radio Wars
WFNX, a small radio station, is growing and making waves. Larger competitors have counterattacked and cut into WFNX's audience. How should it respond? Which option should it choose?
Swot Analysis of "WFNX-107.7 FM and Boston's Radio Wars" written by Robert J. Kopp, Bradley M. Mindich includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Wfnx Radio facing as an external strategic factors. Some of the topics covered in WFNX-107.7 FM and Boston's Radio Wars case study are - Strategic Management Strategies, Marketing, Strategic planning, Strategy execution and Sales & Marketing.
Some of the macro environment factors that can be used to understand the WFNX-107.7 FM and Boston's Radio Wars casestudy better are - – geopolitical disruptions, talent flight as more people leaving formal jobs, challanges to central banks by blockchain based private currencies, customer relationship management is fast transforming because of increasing concerns over data privacy, wage bills are increasing, central banks are concerned over increasing inflation, increasing commodity prices,
increasing inequality as vast percentage of new income is going to the top 1%, supply chains are disrupted by pandemic , etc
Introduction to SWOT Analysis of WFNX-107.7 FM and Boston's Radio Wars
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in WFNX-107.7 FM and Boston's Radio Wars case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Wfnx Radio, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Wfnx Radio operates in.
According to Harvard Business Review, 75% of the managers use SWOT analysis for various purposes such as – evaluating current scenario, strategic planning, new venture feasibility, personal growth goals, new market entry, Go To market strategies, portfolio management and strategic trade-off assessment, organizational restructuring, etc.
SWOT Objectives / Importance of SWOT Analysis and SWOT Matrix
SWOT analysis of WFNX-107.7 FM and Boston's Radio Wars can be done for the following purposes –
1. Strategic planning using facts provided in WFNX-107.7 FM and Boston's Radio Wars case study
2. Improving business portfolio management of Wfnx Radio
3. Assessing feasibility of the new initiative in Sales & Marketing field.
4. Making a Sales & Marketing topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Wfnx Radio
Strengths WFNX-107.7 FM and Boston's Radio Wars | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Wfnx Radio in WFNX-107.7 FM and Boston's Radio Wars Harvard Business Review case study are -
High brand equity
– Wfnx Radio has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Wfnx Radio to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Analytics focus
– Wfnx Radio is putting a lot of focus on utilizing the power of analytics in business decision making. This has put it among the leading players in the industry. The technology infrastructure suggested by Robert J. Kopp, Bradley M. Mindich can also help it to harness the power of analytics for – marketing optimization, demand forecasting, customer relationship management, inventory management, information sharing across the value chain etc.
Highly skilled collaborators
– Wfnx Radio has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive segment. Secondly the value chain collaborators of the firm in WFNX-107.7 FM and Boston's Radio Wars HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Ability to recruit top talent
– Wfnx Radio is one of the leading recruiters in the industry. Managers in the WFNX-107.7 FM and Boston's Radio Wars are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Superior customer experience
– The customer experience strategy of Wfnx Radio in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Sustainable margins compare to other players in Sales & Marketing industry
– WFNX-107.7 FM and Boston's Radio Wars firm has clearly differentiated products in the market place. This has enabled Wfnx Radio to fetch slight price premium compare to the competitors in the Sales & Marketing industry. The sustainable margins have also helped Wfnx Radio to invest into research and development (R&D) and innovation.
High switching costs
– The high switching costs that Wfnx Radio has built up over years in its products and services combo offer has resulted in high retention of customers, lower marketing costs, and greater ability of the firm to focus on its customers.
Diverse revenue streams
– Wfnx Radio is present in almost all the verticals within the industry. This has provided firm in WFNX-107.7 FM and Boston's Radio Wars case study a diverse revenue stream that has helped it to survive disruptions such as global pandemic in Covid-19, financial disruption of 2008, and supply chain disruption of 2021.
Successful track record of launching new products
– Wfnx Radio has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Wfnx Radio has effective processes in place that helps in exploring new product needs, doing quick pilot testing, and then launching the products quickly using its extensive distribution network.
Ability to lead change in Sales & Marketing field
– Wfnx Radio is one of the leading players in its industry. Over the years it has not only transformed the business landscape in its segment but also across the whole industry. The ability to lead change has enabled Wfnx Radio in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Low bargaining power of suppliers
– Suppliers of Wfnx Radio in the sector have low bargaining power. WFNX-107.7 FM and Boston's Radio Wars has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Wfnx Radio to manage not only supply disruptions but also source products at highly competitive prices.
Strong track record of project management
– Wfnx Radio is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Weaknesses WFNX-107.7 FM and Boston's Radio Wars | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of WFNX-107.7 FM and Boston's Radio Wars are -
Lack of clear differentiation of Wfnx Radio products
– To increase the profitability and margins on the products, Wfnx Radio needs to provide more differentiated products than what it is currently offering in the marketplace.
High operating costs
– Compare to the competitors, firm in the HBR case study WFNX-107.7 FM and Boston's Radio Wars has high operating costs in the. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract Wfnx Radio 's lucrative customers.
Aligning sales with marketing
– It come across in the case study WFNX-107.7 FM and Boston's Radio Wars that the firm needs to have more collaboration between its sales team and marketing team. Sales professionals in the industry have deep experience in developing customer relationships. Marketing department in the case WFNX-107.7 FM and Boston's Radio Wars can leverage the sales team experience to cultivate customer relationships as Wfnx Radio is planning to shift buying processes online.
Skills based hiring
– The stress on hiring functional specialists at Wfnx Radio has created an environment where the organization is dominated by functional specialists rather than management generalist. This has resulted into product oriented approach rather than marketing oriented approach or consumers oriented approach.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study WFNX-107.7 FM and Boston's Radio Wars, it seems that the employees of Wfnx Radio don’t have comprehensive understanding of the firm’s strategy. This is reflected in number of promotional campaigns over the last few years that had mixed messaging and competing priorities. Some of the strategic activities and services promoted in the promotional campaigns were not consistent with the organization’s strategy.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study WFNX-107.7 FM and Boston's Radio Wars, in the dynamic environment Wfnx Radio has struggled to respond to the nimble upstart competition. Wfnx Radio has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Increasing silos among functional specialists
– The organizational structure of Wfnx Radio is dominated by functional specialists. It is not different from other players in the Sales & Marketing segment. Wfnx Radio needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Wfnx Radio to focus more on services rather than just following the product oriented approach.
High dependence on existing supply chain
– The disruption in the global supply chains because of the Covid-19 pandemic and blockage of the Suez Canal illustrated the fragile nature of Wfnx Radio supply chain. Even after few cautionary changes mentioned in the HBR case study - WFNX-107.7 FM and Boston's Radio Wars, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Wfnx Radio vulnerable to further global disruptions in South East Asia.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Wfnx Radio is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study WFNX-107.7 FM and Boston's Radio Wars can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Slow decision making process
– As mentioned earlier in the report, Wfnx Radio has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the industry over the last five years. Wfnx Radio even though has strong showing on digital transformation primary two stages, it has struggled to capitalize the power of digital transformation in marketing efforts and new venture efforts.
Low market penetration in new markets
– Outside its home market of Wfnx Radio, firm in the HBR case study WFNX-107.7 FM and Boston's Radio Wars needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Opportunities WFNX-107.7 FM and Boston's Radio Wars | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities highlighted in the Harvard Business Review case study WFNX-107.7 FM and Boston's Radio Wars are -
Creating value in data economy
– The success of analytics program of Wfnx Radio has opened avenues for new revenue streams for the organization in the industry. This can help Wfnx Radio to build a more holistic ecosystem as suggested in the WFNX-107.7 FM and Boston's Radio Wars case study. Wfnx Radio can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Using analytics as competitive advantage
– Wfnx Radio has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in the sector. This continuous investment in analytics has enabled, as illustrated in the Harvard case study WFNX-107.7 FM and Boston's Radio Wars - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Wfnx Radio to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Wfnx Radio in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Sales & Marketing segment, and it will provide faster access to the consumers.
Developing new processes and practices
– Wfnx Radio can develop new processes and procedures in Sales & Marketing industry using technology such as automation using artificial intelligence, real time transportation and products tracking, 3D modeling for concept development and new products pilot testing etc.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Wfnx Radio is facing challenges because of the dominance of functional experts in the organization. WFNX-107.7 FM and Boston's Radio Wars case study suggests that firm can utilize new technology to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Learning at scale
– Online learning technologies has now opened space for Wfnx Radio to conduct training and development for its employees across the world. This will result in not only reducing the cost of training but also help employees in different part of the world to integrate with the headquarter work culture, ethos, and standards.
Use of Bitcoin and other crypto currencies for transactions
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Wfnx Radio in the consumer business. Now Wfnx Radio can target international markets with far fewer capital restrictions requirements than the existing system.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Sales & Marketing industry, but it has also influenced the consumer preferences. Wfnx Radio can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Wfnx Radio can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Buying journey improvements
– Wfnx Radio can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. WFNX-107.7 FM and Boston's Radio Wars suggest that firm can provide automated chats to help consumers solve their own problems, provide online suggestions to get maximum out of the products and services, and help consumers to build a community where they can interact with each other to develop new features and uses.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Wfnx Radio can use these opportunities to build new business models that can help the communities that Wfnx Radio operates in. Secondly it can use opportunities from government spending in Sales & Marketing sector.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Wfnx Radio can build a diversified supply chain model across various countries in - South East Asia, India, and other parts of the world. This reconfiguration of global supply chain can help, as suggested in case study, WFNX-107.7 FM and Boston's Radio Wars, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Reconfiguring business model
– The expansion of digital payment system, the bringing down of international transactions costs using Bitcoin and other blockchain based currencies, etc can help Wfnx Radio to reconfigure its entire business model. For example it can used blockchain based technologies to reduce piracy of its products in the big markets such as China. Secondly it can use the popularity of e-commerce in various developing markets to build a Direct to Customer business model rather than the current Channel Heavy distribution network.
Threats WFNX-107.7 FM and Boston's Radio Wars External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study WFNX-107.7 FM and Boston's Radio Wars are -
Capital market disruption
– During the Covid-19, Dow Jones has touched record high. The valuations of a number of companies are way beyond their existing business model potential. This can lead to capital market correction which can put a number of suppliers, collaborators, value chain partners in great financial difficulty. It will directly impact the business of Wfnx Radio.
Easy access to finance
– Easy access to finance in Sales & Marketing field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Wfnx Radio can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Increasing wage structure of Wfnx Radio
– Post Covid-19 there is a sharp increase in the wages especially in the jobs that require interaction with people. The increasing wages can put downward pressure on the margins of Wfnx Radio.
Stagnating economy with rate increase
– Wfnx Radio can face lack of demand in the market place because of Fed actions to reduce inflation. This can lead to sluggish growth in the economy, lower demands, lower investments, higher borrowing costs, and consolidation in the field.
High level of anxiety and lack of motivation
– the Great Resignation in United States is the sign of broader dissatisfaction among the workforce in United States. Wfnx Radio needs to understand the core reasons impacting the Sales & Marketing industry. This will help it in building a better workplace.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Wfnx Radio in the Sales & Marketing industry. The Sales & Marketing industry is already at various protected from local competition in China, with the rise of trade war the protection levels may go up. This presents a clear threat of current business model in Chinese market.
Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Wfnx Radio can face downward pressure on margins from increasing competition from international players. The international players have stable revenue in their home market and can use those resources to penetrate prominent markets illustrated in HBR case study WFNX-107.7 FM and Boston's Radio Wars .
New competition
– After the dotcom bust of 2001, financial crisis of 2008-09, the business formation in US economy had declined. But in 2020 alone, there are more than 1.5 million new business applications in United States. This can lead to greater competition for Wfnx Radio in the Sales & Marketing sector and impact the bottomline of the organization.
Technology acceleration in Forth Industrial Revolution
– Wfnx Radio has witnessed rapid integration of technology during Covid-19 in the Sales & Marketing industry. As one of the leading players in the industry, Wfnx Radio needs to keep up with the evolution of technology in the Sales & Marketing sector. According to Mckinsey study top managers believe that the adoption of technology in operations, communications is 20-25 times faster than what they planned in the beginning of 2019.
Consumer confidence and its impact on Wfnx Radio demand
– There is a high probability of declining consumer confidence, given – high inflammation rate, rise of gig economy, lower job stability, increasing cost of living, higher interest rates, and aging demography. All the factors contribute to people saving higher rate of their income, resulting in lower consumer demand in the industry and other sectors.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Wfnx Radio with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Shortening product life cycle
– it is one of the major threat that Wfnx Radio is facing in Sales & Marketing sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Weighted SWOT Analysis of WFNX-107.7 FM and Boston's Radio Wars Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers in the HBR case study WFNX-107.7 FM and Boston's Radio Wars needs to zero down on the relative importance of each factor mentioned in the Strengths, Weakness, Opportunities, and Threats quadrants.
We can provide the relative importance to each factor by assigning relative weights. Weighted SWOT analysis process is a three stage process –
First stage for doing weighted SWOT analysis of the case study WFNX-107.7 FM and Boston's Radio Wars is to rank the strengths and weaknesses of the organization. This will help you to assess the most important strengths and weaknesses of the firm and which one of the strengths and weaknesses mentioned in the initial lists are marginal and can be left out.
Second stage for conducting weighted SWOT analysis of the Harvard case study WFNX-107.7 FM and Boston's Radio Wars is to give probabilities to the external strategic factors thus better understanding the opportunities and threats arising out of macro environment changes and developments.
Third stage of constructing weighted SWOT analysis of WFNX-107.7 FM and Boston's Radio Wars is to provide strategic recommendations includes – joining likelihood of external strategic factors such as opportunities and threats to the internal strategic factors – strengths and weaknesses. You should start with external factors as they will provide the direction of the overall industry. Secondly by joining probabilities with internal strategic factors can help the company not only strategic fit but also the most probably strategic trade-off that Wfnx Radio needs to make to build a sustainable competitive advantage.
