SWOT
In a tough Market, I really need to take a look at my product. I need to determine my SWOT. I feel my strengths is that society seems to becoming very health conscious, and there is a huge market for energy boosters. The goal is to match the company’s strengths to attractive opportunities in the environment, while eliminating or overcoming the weaknesses and minimizing the threats. ( Armstrong/Kotler, Marketing, pg 32) My weaknesses might include the fact that chocolate might be perceived as not very healthy and consumers might be trying to stay away from sweets. I will try to overcome this by pushing the fact that the amount of chocolate is minimal and you will burn off the sugar with the energy you gain from the supplement. Opportunity right now is big and wide open for Chocolate Boosters, people are ready and willing to sacrifice a little sugar to help the get healthy and energized. My threats are existing energy boosters like, 5 hr. Energy, Starbucks and other suppliments. I plan to eliminate those by offering a better alternative and attaching them in my adds. Through strategic planning, the company decides what it wants to do with each business unit. Marketing planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives.( Armstrong/Kotler, Marketing, pg. 33) My main marketing strategy is to use this SWOT analysis and focus on my strengths and build off that and knock my threats off the shelves.
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