Every company should perform a Situation or SWOT Analysis in which managment, "evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T). Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives." Evaluation of each product’s market and internal evaluation is crucial to and form of success or failure. These evaluations of productivity, market readiness, possible opportunities for the business are what guides the outcome of revenue.
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Strengths
·
Original
product
·
Customer
service oriented goals
·
Revamp
of company core values and goals
·
Good
company reputation
·
Steady
target market
|
Weaknesses
·
Little
to no revenue in product takeoff
·
Market
research data may be out of date
·
Cost
consideration/ manufacturing
|
|
Opportunities
·
Similar
products do not offer or focus on consumer experience
·
Seasonal
product premier
·
Anticipated
customer demand
·
Past
loyal customers of Phileas Fogg Snacks
|
Threats
·
Competitor
products
·
Pricing
of similar products
·
Recession
caused lack of sales
|
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