Final Project: Situation or SWOT Analysis

“The marketer should conduct a SWOT analysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T).” (Marketing: An Introduction, Armstrong & Kotler, Pg. 55) Having to create a SWOT analysis for your business is of utter importance and should bring to the light the real strong and fragile points of the same. A strength (S) my company has is its uniqueness in its field. There aren’t many sweet treats that accompany wine so good and that it compliments it greatly. A weakness (W) my product may face is its lack of knowledge from part of the consumer. A consumer might feel uneasy trying this new sweet-tasting product simply because of its originality.  An opportunity (O) that presents my product to the table is the opportunity to create a new and wide-range market for new sweet treats. A market that has yet to be tested may also become a multi-million dollar industry. A threat (T) my product will face is  its unpopularity because of it being new, but it may also face a rapid growth in competitors and thus creating the theft of the new idea.  “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." (Marketing: An Introduction, Armstrong & Kotler, Pg. 56)  The ability to create a new product in a new and undiscovered industry is the rising popularity and trends it can set off. But, the counterparts of these benefits are the unsure attitude many customers can show just because of it not being tested yet in the market thoroughly. It’s a hit or miss. "The goal is to match the company’s strengths to attractive opportunities in the environment, while eliminating or overcoming the weaknesses and minimizing the threats. Marketing analysis provides inputs to each of the other marketing management functions.” (Marketing: An Introduction, Armstrong & Kotler, Pg. 56)