SWOT Anaylsis

SWOT Analysis " 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)." Marketing: An Introduction by Armstrong/Kotler, page 54.Every company should be evaluated using SWOT Analysis. SWOT Analysis broken down, is described as;
 "Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives. Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance. Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage. And threats are unfavorable external factors or trends that may present challenges to performance." Marketing: An Introduction by Armstrong/Kotler, page 54. The strengths that my company possesses are ; the product itself will automatically sell because the customer is already familiar with the type of product. My product is priced well and has a good concept (gourmet chips) that will keep customers buying more. The weakness my company may face is loyalty to other brands. customers may not buy my product because they are loyal to brands that they grew up eating. The opportunities my company has access to Ireland is most famous for their potatoes and potatoes is also their number source of food, so they will be comfortable with my product. Ireland is also known for their bars and drinking, so it is a good place for me to target my bar snack towards. Threats that my company will face are mostly just the competition. These brands have been out longer than my company has and they have more resources and have a more established relationship with the customers.