Friday, March 19, 2010

SWOT Analysis

Situation analysis also known as SWOT Analysis. This is where you look at your firms and threats. You have to look at this before you can begin a marketing analysis.

“Markets generally cannot control the elements of the external environment. Instead, they must understand how the external environment is changing and the impact of that change on the target market.” (Ch3 Chapter Review MKTG McDaniel)

Strengths
• selling the smell to customers
• strong appeal to customers
• Sponsor ads/Partnership

Weakness
• Financial base
• Marketing skills to product

Opportunities
• To branch out
• To established a stronger relationship to the community more so to the buyers
• building a stronger foundation to support the company needs to market itself better to business consumers
• studying researching marketing building a foundation in creating business relation to other business consumer

Threats
• competing with top of the line products
• Economic downfall

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