EOC - Situation or SWOT Analysis

A SWOT analysis will indicate how our business can fit into the market as well as keeping us informed about where we need to improve.  “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, Armstrong/Kolter, 55)  Strengths begin for our business with superior product and customer service.  This will allow our business to carve out its niche in the food service environment of Summerlin.  Weaknesses include a saturated market, low startup capital, and a non-permanent location.  These weaknesses can be addressed through a proper targeted marketing campaign and superior product and services.  Opportunities in this analysis include a mobile business that can go to convenient location for the maximum amount of customers, and with superior product and service ensure a share of the market.  Threats for this business include other food based businesses that may be mobile, or restaurants with superior products and customer service.  Our company needs to be able to answer all weaknesses and threats and this can be achieved by outlining a detailed marketing plan and knowing our competitions product and prices. “Thus, whereas marketers see themselves as selling products, customers see themselves as buying value or solutions to their problems. And customers are interested in more than just the price; they are interested in the total costs of obtaining, using, and disposing of a product. Customers want the product and service to be as conveniently available as possible. Finally, they want two-way communication.” (Marketing an Introduction, Armstrong/Kolter, 55)