ArticleOpen Access http://dx.doi.org/10.26855/jhass.2023.09.019
A Study on the Development Strategy of Nongfu Spring Based on the TOWS Matrix
Ruiyi Zhang1,2,*, Xiong Kang2, Huan Liu1,2, Weiwei Zhou1
1Woosong University, Daejeon, South Korea.
2Yulin University, Yulin, Shaanxi, China.
*Corresponding author: Ruiyi Zhang
Published: October 25,2023
Abstract
This research paper delves into the development strategy of Nongfu Spring Co., Ltd., utilizing both Porter's Five Forces Model and the TOWS Matrix as analytical tools. Initially, an in-depth examination of the external environment within the drinking water and beverage industries is conducted using Porter's Five Forces Model. The findings reveal that Nongfu Spring has successfully maintained a competitive edge amidst the intense rivalry; however, the company must remain vigilant in the face of potential competition and threats posed by substitute products while fostering and preserving relationships with suppliers and consumers. Following this, the TOWS Matrix is employed to meticulously analyze Nongfu Spring's strengths, weaknesses, opportunities, and threats, ultimately leading to the development strategic recommendations specifically designed to address various scenarios. The primary objective of this research is to provide valuable guidance for Nongfu Spring's future growth trajectory while equipping the company with practical strategies to adeptly navigate the increasingly fierce competition that permeates the beverage industry.
Keywords
Nongfu Spring, packaged drinking water industry, beverage industry, corporate strategic planning
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How to cite this paper
A Study on the Development Strategy of Nongfu Spring Based on the TOWS Matrix
How to cite this paper: Ruiyi Zhang, Xiong Kang, Huan Liu, Weiwei Zhou. (2023) A Study on the Development Strategy of Nongfu Spring Based on the TOWS Matrix. Journal of Humanities, Arts and Social Science, 7(9), 1805-1809.
DOI: http://dx.doi.org/10.26855/jhass.2023.09.019