Strengths
– Our vodka’s flavors are uncommon, heightened customer service, and a tested
production process for a quality product.
Weaknesses
– No brand awareness as of yet and the cost of manufacturing.
Opportunities
– Vodka is very popular and I’ll try to partner with a well-known restaurant to
promote our vodka.
Threats -
Vodka is a saturated market and people may think my vodka is priced too high.
“Managing
the marketing function begins with a complete analysis of the company’s
situation. The marketer should conduct a SWOT analysis, by which it evaluates
the company’s overall strengths (S), weaknesses (W), opportunities (O), and
threats (T)” (Pg. 54)
Conducting
a SWOT analysis will give me an overview look at what things we could be doing
better and what things to look out for when trying to get consumers to buy our
product over a different type of vodka. It also shows what things we are doing
right and how to continue that top-notch service to every consumer.
“The
company should analyze its markets and marketing environment to find attractive
opportunities and identify environmental threats. It should analyze company
strengths and weaknesses as well as current and possible marketing actions to
determine which opportunities it can best pursue.”
A SWOT
analysis is crucial to make clear what the business is already doing great at
and what it needs to work on. A SWOT analysis can change as a business grows
and new obstacles come into light.
No comments:
Post a Comment