Swot Analysis :BushellMedia
Like Millions of small businesses in the United States, BushellMedia is also a relatively small business as well. With less than 500 employees, this independent business has been established since 2010. Founded by President and CEO, Antonio and Natausha Bushell, BushellMedia is a “family oriented multimedia corporation offering services in all aspects of media, ranging from videography, photography, editing, and specializing also in custom designs and logos.” Like many other small businesses, BushellMedia started out small, however as time progressed BushellMedia began to grow its business, laying its foundation for the type of business it wanted to be, increasing its competitiveness within its market. BushellMedia’s motto is “Meeting all your media needs.” They are a company that believes in putting customers first, seeing to their satisfaction and maintaining an immerse level of integrity, and accountability. They believe that if you strive for excellence regarding these attributes that company success, growth, and profits will follow. While BushellMedia is a growing and productive business, it contains not only strengths and weaknesses but external opportunities and threats, all of which could “make” or “break” the organization. Within this analysis I will discuss the strengths and weaknesses of BushellMedia and address those potential opportunities and threats, and what it means for the company.
BushellMedia’s distinctive strengths of having today’s cutting edge equipment and software, while properly being able to use it, is what gives it its distinctive qualities and advantage. For instance, BushellMedia, being a multimedia company, has to have the right equipment, such as: cameras, mic’s, lighting systems, backdrops, and high-tech computers, to successfully, and effectively complete cliental projects. Having the proper equipment puts BushellMedia on a leading level, and in a profitable state. Meaning, with BushellMedia having the latest technology in equipment gives them the opportunity to have a substantial business while staying constantly competitive, in a competitive “media” market. Not having the latest technologies and equipment are some of the reasons some business fail to successfully rise and compete and satisfy their customers wants and needs, which brings me to my next point. Having the latest equipment and software, is what ultimately keeps your business at its high.
The latest software and properly knowing how to use it allows for BushellMedia to effectively and efficiently complete projects and keep their customers satisfied. For example, many times customers, or even other businesses looking to get media work done, want to know what software you’re working with, and how much experience you have with it, and if it meets to the criteria of what they are looking for, such as: HD 1080p video, Final Cut Pro, Adobe products, or animation software like 3D Max. What makes it strength of BushellMedia’s company is that unlike some businesses it has both software, and experience compared to other companies.
Like other businesses, BushellMedia has weaknesses that in some instances can be detrimental, if not diminished quickly and properly. BushellMedia is a “home grown” business that is relatively a small and fresh business one that is growing. However, at the present time with not many promotion campaigns active, and no PR in place, BushellMedia does a lot of “grass root” promotion, and has to work as twice as hard for cliental than those who have a proper strategic plan and campaigns for promoting their business. Specifically many of BushellMedia’s cliental comes from via word of mouth, and reference, very seldom does customers come from online marketing in places such as Facebook, YouTube or craigslist, though those have been marketing channels. Like in any competitive market, businesses like BushellMedia has to be able to obtain customers in order to be profitable and long standing, right now BushellMedia lacks the sort of promotion it needs to be longstanding.
For any business to effectively communicate their products or services, they are going to have to have a marketing program or promotional mix. A promotional mix consists of advertising, direct marketing, personal selling, sales promotion, and public relations tools and these are exactly what BushellMedia needs to help diminish it weaknesses. If BushellMedia uses this marketing strategy, BushellMedia could then communicate, and attract more customers, thus raising their chances of being a more successful and growing business.
Another very negative weakness that encompasses BushellMedia is that BushellMedia does not know they’re target market. In other words, the organization does not know who their business should target, rather high or low income households, males, females, or both, teens, seniors, individuals, or other businesses, like being contracted out. With BushellMedia not having full knowledge of this they are not able to properly promote their business, which brings me to my next point.
BushellMedia needs to determine their target market, so they can better understand the proper channels they need to promote what it is they do, to consumers. It would be beneficial for BushellMedia to properly analyze their services, concluding who their target market should be. Then from there they can determine in what way should they promote, rather through, radio, online, television, billboards, or such. For a business like BushellMedia, because they have such great equipment and software, and they have such a great potential for large cliental, going out for contracted business, could pose as most beneficial for the organization, increasing their chances of gaining more profits, and durability.
The market in which BushellMedia resides is a growing market, however, one that presents opportunities and threats, for a growing business like BushellMedia. On the note of opportunities BushellMedia has the opportunity to really expand its services and grow its business tremendously, by creating and producing high end 3D quality productions. BushellMedia already offers animation services for clients, but can soon find an enormous fluctuation in this industry. The advances within the technological dimension have caused the 3D animation industry to grow and have given the ability to produce high quality 3D animations to almost everyone. To put it another way, animation is no longer just available to Big Firms, or those with 10+ years’ experience but it has become available to individuals, and small businesses like BushellMedia at very low costs. Within the animation industry more user friendly animation software and applications have become available that cuts production time in half, while still keeping a high quality.
What makes this such a great opportunity for BushellMedia is that with these new user friendly 3D applications BushellMedia can boost their cliental a hundred fold possibly, while still allowing them to have a quick turn-around period for clients, produce professional 3D animations, and generate great profits. According to a study on the animation market, the animation market reached $237 million in 2008, and saw a decline; however the market saw a new growth in 2011. This new growth in the market is expected to continue to rise to almost $350 million in 2013. So as the animation industry surges business for BushellMedia can too.
With the animation industry growing and we see that BushellMedia has the opportunity for expansion, another channel in which BushellMedia can remain durable and competitive is in their pricing. In other words, If BushellMedia keeps their prices relatively lower than most Big Businesses; this could grow their cliental as well as keep them on the competitive edge. In regards to the economic dimension, the economy is finally rising slowly but gradually out of the recession. However, the economy is still somewhat weak, and unemployment rates are still high. If BushellMedia would lower their rates but still offer great quality services, this could ultimately set their business on another level. Meaning, they would be doing what most businesses in this market don’t do, which is charge low prices and offer high quality work, for more cliental. This is helping BushellMedia gain a more profound portfolio, keep customers flowing, and helping them remain durable and prosperous.
Because the media industry is a vast growing and popular one, business within this sector rise and fail quickly. There are some potential threats against BushellMedia, which though small now, could turn into large ones as the organization expands. BushellMedia’s immediate threat is lack of employees that are well experienced in the numerous lines of services BushellMedia offers to the public. Now it can be argued that lack of employees is part of the internal environment so therefore is not an external force that affects the business. But ultimately what is at stake here is that it could be the economic dimension which is affecting it. To further explain, if BushellMedia cannot find willing and experience workers, they will not be able to continue to maintain high performance as business picks up. Thus causing them to lose customers and be threatened with closing, which brings me to my final point.
BushellMedia will need employees because with this growing industry the constant threat of “new entrants” is those that too, offer services very similar to BushellMedia. What is important to understand about these new entrants is that their force is not just locally, but also internationally. Therefore BushellMedia faces a threat raging from the International dimension. Many studios like Walt Disney and IMAX outsource many of their productions such as animation, to countries like India and China. This affects BushellMedia because it could prevent potential customers as well as affect American businesses like BushellMedia. These businesses are directly affected by outsourcing causing them to lose employees or shut down all together.
My conclusion then is that in order for BushellMedia to capitalize on its opportunities it needs to take more of a focus on its strengths and services like its 3D animation services. As this sector begins to increase, businesses for BushellMedia have the possibility to do the same. I believe also when BushellMedia eliminates its weaknesses as well it will help them capitalize on those opportunities. In addition, the threats of new entrants and international forces like outsourcing, are threats that really cannot be fully neutralized by them alone so it will take what the company does as a whole to determine if those threats will have a serious negative affect on them or not. Overall BushellMedia is an excellent market, and is on its way to becoming a top media organization.