Marketing Plan Situation Analysis and SWOT on College Bookstore

Name
Tutor
Course
Date
College Bookstore
PESTEL Analysis
College of the Rockies is an online bookstore that helps students get the different books in the most efficient manner. Students are willing to get their books from an online platform since it offers convenience and can also help them save on the cost of purchasing the books. In terms of political standing, online bookstores are supported by the political class (Kozlinskis 32). This would work in favor of the online store since they can operate efficiently by seeking additional political backing. In terms of economic standing, the online stores offer books at cheaper costs compared to buying from other stores (“Is SWOT Analysis Still Fit for Purpose?” 17). This would also help them compete with physical stores since more students are willing to get their books from the online stores.
Online bookstores also enjoy social acceptance since most stakeholders including educational institutions and parents feel they offer tangible benefits. The bookstore also offers technological advantages since it is available to a wide range of people (MBACHU, JASPER, and MARCEL 289). The books can also be updated to ensure the students receive the most current information. The store is also within the accepted standards in terms of environmental factors since it does not have any impact on the surroundings. The business needs to operate within the legal parameters, and this includes ensuring that all books are sourced as per the established rules, and copyright infringement is not tolerated.

SWOT Analysis
Strengths
The business operates on lower costs, and this can help them secure their business in the long run.
Customer loyalty.
An established brand name.
An established supply chain Weaknesses
Most people have not established a reading culture.
Lack of proper marketing in educational institutions.
Competition from other online store and institutional libraries (Tenney, Dan, and James 1017).
Opportunities
Comprehensive marketing to influence a reading culture.
Online marketing.
Ensuring the platform offers new products.
Searching for new markets especially in institutions. Threats
Change in tastes among the consumers.
The younger generations are likely to abandon the use of online bookstores.
The threat of substitutes.
Works Cited
“Is SWOT Analysis Still Fit for Purpose?” Strategic Direction, vol. 31, no. 4, May 2015, pp. 13–15. EBSCOhost, doi:10.1108/SD-02-2015-0024.
Kozlinskis, Vulfs. “Evaluation of Business Macro Environment: Case of Economic Slowdown.” Journal of Business Management, no. 1, Jan. 2008, pp. 30–34. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=buh&AN=37275688&site=ehost-live.
MBACHU, JASPER, and MARCEL FREI. “Diagnosing the Strategic Health of an Organization from SWOT Analysis Results: Case Study of the Australasian Cost Management Profession.” Construction Management & Economics, vol. 29, no. 3, Mar. 2011, pp. 287–303. EBSCOhost, doi:10.1080/01446193.2010.547865.
Tenney, Dan, and James Marquis. “SWOT as a Constructive Predictor for Business Success of SMEs: A Case Study.” Proceedings for the Northeast Region Decision Sciences Institute (NEDSI), Mar. 2017, pp. 1014–1023. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=buh&AN=122933205&site=ehost-live.