Mathmos Ltd Dissertation Example | Topics and Well Written Essays - 4500 words

Mathmos Ltd - Dissertation Example In this report, an in-depth analysis of Mathmos Ltd has been done with the help of different tools such as SWOT Analysis, PESTEL Analysis, and Porter’s Five Forces Model etc in order to determine the key areas of strengths as well as weaknesses to improve and enhance the overall performance of the company. In the second part, different methods have been discussed that can be used to increase the revenues and establish the brand in the industry. The main objective of this paper is to identify managerial ways for Mathmos Ltd which is facing a decline due to lack of innovation and proper management. Recommendations are given that can be implemented to boost the business as increased competition offers many challenges in today’s world. Mathmos Ltd. Introduction: Mathmos Ltd is a privately owned company located in London, United Kingdom. It primarily sells Wholesale lamps, Ceiling Light, Ceramic Lamps, Modern Lamps and Tiffany Lamps. The annual revenues of the company are 4, 822,851. It strives to produce new light technologies to delight its customers. The Mathmos Mobile range was the first rechargeable LED which developed many products such as Aaron Rincover’s Bubble and color changing ‘aduki’ range etc. Bubble became very popular and also received many awards like an IDEA award, D&AD commendation, Red Dot Award and many more. Some of their products are also invented and designed with the help of external designers. Talented designers are always encouraged to be a part of Mathmos products. Background of the company: It was established in 1963 by Mr. Walker who invented the first lava lamp. The lamp immediately gained the attention of the customers and sales increased at a higher rate in UK. It also appeared in many movies and films. In 1989, the company was taken over by Cressida Granger and David Mulley. They modified the lamp according to the modern times and introduced a whole range of ambient lights. Initially, the products wer e designed and manufactured in the house but due to its popularity and increased demand, the company doubled in size each year. In the late 1990s, cheap duplicate copies of the lamp begun to appear in the market. This was a potential threat to Mathmos and change was required for the survival and success of the company. In 1998, the sole owner of the company was Cressida Granger as David left the company. The company was hit by the global recession and the size of the organization was reduced in order to compete in the rapidly growing environment. Since then Mathmos is following the strategy of constantly offering innovative designs. A program of new product development was launched to differentiate their products from the copied ones. Product manufacturing was shifted overseas to offer more competitive prices. Mathmos is a small company now but it still has a wide range of good quality products. Their main focus is towards lighting and it markets its product on the international lev el through retail and wholesale channels. Products: It offers a wide range of products which include: Lava Lamps LED & Mood lights Space Projector Airswitch lights Candlelights Lamp shades SWOT Analysis: SWOT stands for Strength, Weaknesses, Opportunities and Threats. It is a strategic tool to audit the organization and its environment. It specifies the objective of the business and evaluates these four factors to determine the key issues faced by an organization. Thus, we will determine the key issues faced by Mathmos on the basis of which future predictions and measures can be taken. The aim of this analysis is to discover new alternatives to increase the performance and profitability of Mathmos Ltd. Strengths: It is the pioneer in the light manufacturing equipments. It enjoys a dominant position in the light manufacture industry due to their high-quality products. It provides free advisory services by consulting spaces. It has a strong network of distribution channels which enhan ces its efficiency in the delivery of products at the right time. In order to stay in the world of