Bob bi owns a protein shake company,which has been trading for 3 years.Her products a restocked in a number of gyms,but the company has not seen much growth in recent months.Bob bi would now like to break into the online market to boost product sales.Which of the following actions should Bob bi take to identify opportunities for online business growth?
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Correct answer: Identify a USP, Build a SWOT analysis.
Why this is the answer
Identifying a Unique Selling Proposition (USP) helps Bobbi differentiate her protein shakes from competitors, attracting online customers who might be overwhelmed by choices. A clear USP communicates what makes her product better or different, which is crucial for online growth. Building a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis allows Bobbi to systematically evaluate her company's internal capabilities and external market conditions. This strategic planning tool will highlight areas where her business can capitalize on online opportunities and address potential challenges, guiding her online market entry and growth strategy. Hiring a financial planner, shipping to new countries, and distributing feedback forms to suppliers are not primary actions for identifying opportunities for online business growth, though they might be relevant later in the process.
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