Competitive Situation Analysis of Sea Fish BD

Abstract

In order to better comprehend a company's position in the marketplace, competitive analysis is used. It is an effective method for acquiring intelligence and putting that information to effective use in a tactical situation. It helps to gain a better position to outperform competitors and retain clients if it includes a detailed competitive analysis into the initial business strategy. It enables the acquisition of assets easier, understanding the strategy of attracting new customers, and investment capital. It may also have a positive impact on the performance and profitability of an organization. The purpose of the study is to identify the factors that influence the growth of Sea Fish BD in the competitive market edge. It is being utilized Porter's five force model as well as a SWOT analysis to establish the factors that influence to Sea Fish BD for leading the market in online fish industry as well as to determine the factors that affect its growth of the business of Sea Fish BD. Porter’s Five Forces is a useful technique for analyzing the business of Sea Fish BD and to make strategic adjustments based on the factors affecting their profitability in their environment or sector. Furthermore, by using SWOT analysis, it can be identified the important factors that can help companies determine risks and opportunities in the competitive market. According to the study, there are some competitors in online fish market which are leading the market. And for leading the market of as well as growth of the business, Sea Fish BD needs to face more challenging marketing activities. Lack of fulfilling customers’ demand, high prices from other competitors, and lack of marketing and promotional activities are the main factors for the growth of Sea Fish BD that have been discussed in this report. However, towards the conclusion of the repot, some recommendations were made in order to enhance the growth of Sea Fish BD.