Friday, November 18, 2016
Situation or SWOT Analysis
"When examining internal strengths and weaknesses, the marketing manager should focus on organizational resources such as production costs, marketing skills, financial resources, company or brand image, employee capabilities, and available technology" (Chapter 2 pg 22). My strengths would have to be the fact that there are a lot of people who love chocolate, and the combination of chocolate with whatever drink my customers put in the cup would taste good to them. Also, since my cup isn't to expensive, they will continue going back to buy more Chocomugs. "When examining external opportunities and threats, marketing managers must analyze the collection and interpretation of information about forces, events, and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan" (Chapter 2 pg 22). I have several opportunities being in this business, I can make partners with companies who see the potential my company and products have, as well as the rare opportunity I have to give back to my community and the environment. My only threat are people who try to make their own version of the Chocomug, and that's not a very big threat. I wouldn't put out a product unless I knew it would be hard to top my product, and that means every product released needs to have incredibly quality and taste terrific to people.
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