Question

Given your understanding of Farrell's Ice Cream Parlour describe one business strategy option for this business on Oahu, Hawaii. Use a relevant strategy and indicate what that strategy might look like in practice.

Answer 1

Here I'm going to describe about the business strategy option for the Farrell's ice cream parlour on Oahu, Hawaii.

The most important business strategy that would be required by the Farrell's ice cream parlour in Oahu, Hawaii would be COMPETITOR ANALYSIS.

Competitor analysis is done for the business models or those business projects which are very common and generic in nature. When we talk about the ice cream parlour, it is very common and needs a clear vision of competitors analysis to keep up with them in competition. In these cases the owners has analyze few important things such as :-

• What are the cost of their business?

• Who are the direct competitors?

• What emotional and strategic plans should they use to attract customers?

• What customer wants?

• What kind of packaging should they use?

• What does customer attracted towards?

• How much customer can pay?

• How are they dealing with customers?

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