Final Project: Situation or SWOT Analysis

Strengths:

-No product like Slender Vodka is currently on the market.

-Starting locally to develop client base

-Targeting women who will use product

-Product is not diet but will help women who count calories

 

Weakness:

-Working in larger market of competing products.

-Small company with less resources for distribution

-Must use outside resources to promote product

-Budget

 

Opportunities:

-Having a January release will increase sales due to resolutions for many to lose weight.

-100 calorie items are highly popular amount women.

-Smaller packaging encourages more repurchasing.

-Find well known figure to endorse product

-Product can be priced higher due to taking “guess work” out of measuring the alcohol.

 

Threats:

-Well known competitors might begin selling similar packaging of their vodka

-Not every woman drinks alcohol even when designed to make “life easier”

 

With any new business or product the best way to organize your concept is to create a marketing plan. “A detailed marketing plan is needed for each business, product, or brand.” (Marketing An Introduction, 56) Within a marketing plan there such be a SWOT analysis to help identify the strengths, weaknesses, opportunities, and threats to which helps you recognize areas of improvement as well as see the areas that you have done a great job at. “The plan begins with an executive summary that quickly reviews major assessments, goals, and recommendations. The main section of the plan presents a detailed SWOT analysis of the current marketing situation as well as potential threats and opportunities. The plan next states major objectives for the brand and outlines the specifics of a marketing strategy for achieving them.” (Marketing An Introduction, 56) By creating a SWOT analysis it will help Slender Vodka concentrate on how we want to market ourselves. Since our market group is women the SWOT analysis helps to understand what Slender Vodka offers women and what we can do to make our customers need Slender Vodka.