Tuesday, May 5, 2020
Cheggs Analysis of Swot free essay sample
Competitors: Campus Book Rentals, Book swim, Book Renter, Skoobit, among others. b) Competitors actions will be mainly monitored: * By mainly common customers to both that company and its competitors. If there are any new changes that a competitor makes, customers might invariably at some time or the other talk to the sales representatives of the other company, and that is how those employees in turn could alert the management about how to counter that hange. Companies could check sales reports of the competitor online. * They could also get feedback from suppliers who supply to that company and its * Also they can monitor how the competitors shares are competitor company. behaving. They should see the movement of their shares over the course of a period of time. It will move up and down as per their product releases, or because of changes that the company undergoes, like new directors could be appointed who might better the companys prospects. We will write a custom essay sample on Cheggs Analysis of Swot or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Also, they can monitor their competitors actions through advertisements. Usually companies will advertise new products that they release, so we could find out what those new products are that are being offered to customers. * We also have to be aware of the MA (Mergers and Acquisitions) activities of the competitor. If they are taking over and acquiring other companies, and extending their scope of consumer activity or if they are being acquired by bigger companies, which might earn them more profits, it will give us an account of hether they are under loss, if their balance sheet is weak, etc. Therefore, MAs indirectly tell us details about the competitors actions. c) The customer segment for Chegg is mainly college-going students who are in the lookout for good deals on textbooks for college since textbooks are so expensive these days. The customer segment is neither seasonal nor limited. The customer base of college students will never stop since there are always new students entering college. d) Some strategies to appeal to them are: Excellent customer service and accessibility Cheggs has very good customer service. For example, they are very accessible to customers instantly through phone numbers, live chat on their website, email, etc. * Competitive pricing they try to price their books lesser than their competitors so students rent more from them. * They also advertise Chegg a lot by stating that Cheggs is number 1 in textbook rentals which makes their company earn more customers since everyone is looking for the best these days. * Chegg also makes return of books very easy by provide ustomers with return mailers which also help the company to keep track of returns in an organized way. This appeals to customers as returns are made easier for them, e) Chegg is high up on the social responsibility index: * By undertaking to plant a tree for every book they sell. In addition to that, consumers can choose on which continent they want to plan a tree. * They also contribute to economy as by leasing it out to consumers, the buying of books becomes lesser and this in turn saves paper to make the books, and in turn saves trees.