UltraRichMatch.com: Online Matrimony in India SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
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Case Study SWOT Analysis Solution
Case Study Description of UltraRichMatch.com: Online Matrimony in India
In November 2011, UltraRichMatch.com (URM) was founded as an online matrimonial portal targeted at Indian millionaires. URM was unique as it provided both wedding planning and matchmaking services. URM depended on building affiliations with providers of wedding products and services. These affiliations had not grown according to expectations. By early 2013, the founder believed that expansion was necessary for URM. He had arrived at three options for expansion: expansion online with a new portal, setting up a franchise chain of bricks and mortar marriage centres/ bureaus and expansion of URM's affiliate program to attract more customers. His dilemma was whether to pursue all these plans simultaneously or one at a time. Sivakumar Alur and Sulagna Mukherjee are affiliated with TA Pai Management Institute.
Swot Analysis of "UltraRichMatch.com: Online Matrimony in India" written by Sivakumar Alur, Sulagna Mukherjee includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Urm Ultrarichmatch.com facing as an external strategic factors. Some of the topics covered in UltraRichMatch.com: Online Matrimony in India case study are - Strategic Management Strategies, Growth strategy and Sales & Marketing.
Some of the macro environment factors that can be used to understand the UltraRichMatch.com: Online Matrimony in India casestudy better are - – there is increasing trade war between United States & China, increasing government debt because of Covid-19 spendings, challanges to central banks by blockchain based private currencies, central banks are concerned over increasing inflation, increasing energy prices, talent flight as more people leaving formal jobs, customer relationship management is fast transforming because of increasing concerns over data privacy,
cloud computing is disrupting traditional business models, supply chains are disrupted by pandemic , etc
Introduction to SWOT Analysis of UltraRichMatch.com: Online Matrimony in India
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in UltraRichMatch.com: Online Matrimony in India case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Urm Ultrarichmatch.com, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Urm Ultrarichmatch.com 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 UltraRichMatch.com: Online Matrimony in India can be done for the following purposes –
1. Strategic planning using facts provided in UltraRichMatch.com: Online Matrimony in India case study
2. Improving business portfolio management of Urm Ultrarichmatch.com
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 Urm Ultrarichmatch.com
Strengths UltraRichMatch.com: Online Matrimony in India | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Urm Ultrarichmatch.com in UltraRichMatch.com: Online Matrimony in India Harvard Business Review case study are -
Low bargaining power of suppliers
– Suppliers of Urm Ultrarichmatch.com in the sector have low bargaining power. UltraRichMatch.com: Online Matrimony in India has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Urm Ultrarichmatch.com to manage not only supply disruptions but also source products at highly competitive prices.
Operational resilience
– The operational resilience strategy in the UltraRichMatch.com: Online Matrimony in India Harvard Business Review case study comprises – understanding the underlying the factors in the industry, building diversified operations across different geographies so that disruption in one part of the world doesn’t impact the overall performance of the firm, and integrating the various business operations and processes through its digital transformation drive.
Cross disciplinary teams
– Horizontal connected teams at the Urm Ultrarichmatch.com are driving operational speed, building greater agility, and keeping the organization nimble to compete with new competitors. It helps are organization to ideate new ideas, and execute them swiftly in the marketplace.
Ability to lead change in Sales & Marketing field
– Urm Ultrarichmatch.com 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 Urm Ultrarichmatch.com in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Analytics focus
– Urm Ultrarichmatch.com 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 Sivakumar Alur, Sulagna Mukherjee 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.
Ability to recruit top talent
– Urm Ultrarichmatch.com is one of the leading recruiters in the industry. Managers in the UltraRichMatch.com: Online Matrimony in India are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Sustainable margins compare to other players in Sales & Marketing industry
– UltraRichMatch.com: Online Matrimony in India firm has clearly differentiated products in the market place. This has enabled Urm Ultrarichmatch.com to fetch slight price premium compare to the competitors in the Sales & Marketing industry. The sustainable margins have also helped Urm Ultrarichmatch.com to invest into research and development (R&D) and innovation.
Effective Research and Development (R&D)
– Urm Ultrarichmatch.com has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in, as mentioned in case study UltraRichMatch.com: Online Matrimony in India - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Digital Transformation in Sales & Marketing segment
- digital transformation varies from industry to industry. For Urm Ultrarichmatch.com digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Urm Ultrarichmatch.com has successfully integrated the four key components of digital transformation – digital integration in processes, digital integration in marketing and customer relationship management, digital integration into the value chain, and using technology to explore new products and market opportunities.
Learning organization
- Urm Ultrarichmatch.com is a learning organization. It has inculcated three key characters of learning organization in its processes and operations – exploration, creativity, and expansiveness. The work place at Urm Ultrarichmatch.com is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in UltraRichMatch.com: Online Matrimony in India Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Innovation driven organization
– Urm Ultrarichmatch.com is one of the most innovative firm in sector. Manager in UltraRichMatch.com: Online Matrimony in India Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Training and development
– Urm Ultrarichmatch.com has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in UltraRichMatch.com: Online Matrimony in India Harvard Business Review case study by analyzing – employees retention, in-house promotion, loyalty, new venture initiation, lack of conflict, and high level of both employees and customer engagement.
Weaknesses UltraRichMatch.com: Online Matrimony in India | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of UltraRichMatch.com: Online Matrimony in India are -
Slow to strategic competitive environment developments
– As UltraRichMatch.com: Online Matrimony in India HBR case study mentions - Urm Ultrarichmatch.com takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the industry in last five years.
Low market penetration in new markets
– Outside its home market of Urm Ultrarichmatch.com, firm in the HBR case study UltraRichMatch.com: Online Matrimony in India needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
High bargaining power of channel partners
– Because of the regulatory requirements, Sivakumar Alur, Sulagna Mukherjee suggests that, Urm Ultrarichmatch.com is facing high bargaining power of the channel partners. So far it has not able to streamline the operations to reduce the bargaining power of the value chain partners in the industry.
Aligning sales with marketing
– It come across in the case study UltraRichMatch.com: Online Matrimony in India 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 UltraRichMatch.com: Online Matrimony in India can leverage the sales team experience to cultivate customer relationships as Urm Ultrarichmatch.com is planning to shift buying processes online.
Workers concerns about automation
– As automation is fast increasing in the segment, Urm Ultrarichmatch.com needs to come up with a strategy to reduce the workers concern regarding automation. Without a clear strategy, it could lead to disruption and uncertainty within the organization.
Slow decision making process
– As mentioned earlier in the report, Urm Ultrarichmatch.com 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. Urm Ultrarichmatch.com 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.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Urm Ultrarichmatch.com is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study UltraRichMatch.com: Online Matrimony in India can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Need for greater diversity
– Urm Ultrarichmatch.com has taken concrete steps on diversity, equity, and inclusion. But the efforts so far has resulted in limited success. It needs to expand the recruitment and selection process to hire more people from the minorities and underprivileged background.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the UltraRichMatch.com: Online Matrimony in India HBR case study still accounts for major business revenue. This dependence on star products in has resulted into insufficient focus on developing new products, even though Urm Ultrarichmatch.com has relatively successful track record of launching new products.
High operating costs
– Compare to the competitors, firm in the HBR case study UltraRichMatch.com: Online Matrimony in India 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 Urm Ultrarichmatch.com 's lucrative customers.
Lack of clear differentiation of Urm Ultrarichmatch.com products
– To increase the profitability and margins on the products, Urm Ultrarichmatch.com needs to provide more differentiated products than what it is currently offering in the marketplace.
Opportunities UltraRichMatch.com: Online Matrimony in India | 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 UltraRichMatch.com: Online Matrimony in India are -
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Urm Ultrarichmatch.com can use these opportunities to build new business models that can help the communities that Urm Ultrarichmatch.com operates in. Secondly it can use opportunities from government spending in Sales & Marketing sector.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Urm Ultrarichmatch.com to expand its talent hiring zone. According to McKinsey Global Institute, 20% of the high end workforce in fields such as finance, information technology, can continously work from remote local post Covid-19. This presents a really great opportunity for Urm Ultrarichmatch.com to hire the very best people irrespective of their geographical location.
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. Urm Ultrarichmatch.com can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Low interest rates
– Even though inflation is raising its head in most developed economies, Urm Ultrarichmatch.com can still utilize the low interest rates to borrow money for capital investment. Secondly it can also use the increase of government spending in infrastructure projects to get new business.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Urm Ultrarichmatch.com 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.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Urm Ultrarichmatch.com is facing challenges because of the dominance of functional experts in the organization. UltraRichMatch.com: Online Matrimony in India 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.
Developing new processes and practices
– Urm Ultrarichmatch.com 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.
Using analytics as competitive advantage
– Urm Ultrarichmatch.com 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 UltraRichMatch.com: Online Matrimony in India - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Urm Ultrarichmatch.com to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Building a culture of innovation
– managers at Urm Ultrarichmatch.com can make experimentation a productive activity and build a culture of innovation using approaches such as – mining transaction data, A/B testing of websites and selling platforms, engaging potential customers over various needs, and building on small ideas in the Sales & Marketing segment.
Learning at scale
– Online learning technologies has now opened space for Urm Ultrarichmatch.com 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.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Urm Ultrarichmatch.com can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Better consumer reach
– The expansion of the 5G network will help Urm Ultrarichmatch.com to increase its market reach. Urm Ultrarichmatch.com will be able to reach out to new customers. Secondly 5G will also provide technology framework to build new tools and products that can help more immersive consumer experience and faster consumer journey.
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 Urm Ultrarichmatch.com 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 UltraRichMatch.com: Online Matrimony in India External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study UltraRichMatch.com: Online Matrimony in India are -
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 Urm Ultrarichmatch.com in the Sales & Marketing sector and impact the bottomline of the organization.
Regulatory challenges
– Urm Ultrarichmatch.com needs to prepare for regulatory challenges as consumer protection groups and other pressure groups are vigorously advocating for more regulations on big business - to reduce inequality, to create a level playing field, to product data privacy and consumer privacy, to reduce the influence of big money on democratic institutions, etc. This can lead to significant changes in the Sales & Marketing industry regulations.
Environmental challenges
– Urm Ultrarichmatch.com needs to have a robust strategy against the disruptions arising from climate change and energy requirements. EU has identified it as key priority area and spending 30% of its 880 billion Euros European post Covid-19 recovery funds on green technology. Urm Ultrarichmatch.com can take advantage of this fund but it will also bring new competitors in the Sales & Marketing industry.
High dependence on third party suppliers
– Urm Ultrarichmatch.com high dependence on third party suppliers can disrupt its processes and delivery mechanism. For example -the current troubles of car makers because of chip shortage is because the chip companies started producing chips for electronic companies rather than car manufacturers.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Urm Ultrarichmatch.com 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.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Urm Ultrarichmatch.com with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study UltraRichMatch.com: Online Matrimony in India, Urm Ultrarichmatch.com may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Sales & Marketing .
Shortening product life cycle
– it is one of the major threat that Urm Ultrarichmatch.com is facing in Sales & Marketing sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
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. Urm Ultrarichmatch.com needs to understand the core reasons impacting the Sales & Marketing industry. This will help it in building a better workplace.
Stagnating economy with rate increase
– Urm Ultrarichmatch.com 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.
Backlash against dominant players
– US Congress and other legislative arms of the government are getting tough on big business especially technology companies. The digital arm of Urm Ultrarichmatch.com business can come under increasing regulations regarding data privacy, data security, etc.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Urm Ultrarichmatch.com 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 UltraRichMatch.com: Online Matrimony in India .
Increasing wage structure of Urm Ultrarichmatch.com
– 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 Urm Ultrarichmatch.com.
Weighted SWOT Analysis of UltraRichMatch.com: Online Matrimony in India 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 UltraRichMatch.com: Online Matrimony in India 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 UltraRichMatch.com: Online Matrimony in India 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 UltraRichMatch.com: Online Matrimony in India 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 UltraRichMatch.com: Online Matrimony in India 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 Urm Ultrarichmatch.com needs to make to build a sustainable competitive advantage.
