Situation or SWOT Analysis

In order for our marketing to be successful we must understand the current and potential environment our product will be  marketed in. We must analyze, our strengths, weaknesses, opportunites, and threats. Our strengths are that we don’t really have any competing products that offer what we offer. Our product is fun for kids and adults. Our product is not just food, but an activity. We are selling an activity for the whole family, not just food. We have a competitive advantage on the marketplace because we are a unique product that is appealing to families.  “Without a competitive advantage, target customers do not perceive any reason to patronize an organization instead of its competitors. The notion of competitive advantage means that a successful firm will stake out a position unique in some manner from its rivals.”( Lamb, Charles W. MKTG 9, 9th Edition, p. 25). When you are the only product, people will buy. Our weaknesses would definitely come down to costs, and price points. Our product is much more elaborate than a tube of cookie dough. It is a kit of products and different colors of dough that are moldable or edible. So the challenges would be convincing customers that the extra cost of our cookies is worth the experience. “When examining external opportunities and threats, marketing managers must analyze aspects of the marketing environment. This process is called environmental scanning—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.” (Lamb, Charles W. MKTG 9, 9th Edition, pg. 22). Our opportunities are being aware of social trends and adapting., maybe licensing out with other popular brands such as Star Wars or Spongebob. If our product continues to progress and stay on social trends it definitely gives us opportunity to market new products, sell, and grow. Our threats would be the much bigger companies copying our product or something similar. They have more resources and could probably be at a lower price point. Costs are very important, but can also be reduced in many ways. “A product/service differentiation competitive advantage exists when a firm provides something that is unique and valuable to buyers beyond simply offering a lower price than that of the competition.” (Lamb, Charles W. MKTG 9, 9th Edition. P 22). It is important we stay ahead of our competitors in providing a better product that is worth the cost differences. Cost isn’t everything.