Procedia social and behavioral sciences

• Efficient production plant (Sołoducho-Pelc, 2014)

• Establish goodwill in the market (Sołoducho-Pelc, 2014).

• These big market players have set up their own bakeries which are sufficient enough to produce the macro-sponges, in the long run, it can majorly impact them

• The constant change in customer taste and preference (GÜREL, 2017).

• Technology is growing at a tremendous rate; they can use this opportunity by expanding their business online (GÜREL, 2017).

strengths and weaknesses for STPL they are:

• They have an efficient and strong distribution network.

Weakness

• Outdated technology is being used

Evaluating STPL objectives for their strategic plan

• Cost leadership strategy

1. They can lower the pricing strategy to attract the potential market, everyone already knows about their Quality, by decreasing the pricing strategy for some time can help them to gain the competitive advantage and they can also reduce their cost so that they can offer the price which can be considered average (Islami, Mustafa, and Topuzovska Latkovikj, 2020).

• The Focus Strategy

1. STPL lacks loyal customers it is important to focus on those customers so that a strong relationship between them could be built

References

Sołoducho-Pelc, L., 2014. Competitive Advantage: The Courage in Formulating Objectives and Expansiveness of a Strategy. Procedia - Social and Behavioral Sciences, 150, pp.271-280.