SWOT Analysis

SWOT Analysis, which I like to call 'Say What?" is actually quite easy to understand and develop but I still should explain what this acronym stands for and represent. Basically SWOT stands for: "An overall evaluation of the company’s strengths (S), weaknesses (W), opportunities (O), and threats (T)." (Marketing: An Introduction, Armstrong & Kotler, Page 6 Chapter 2) Understanding and assessing each of these is very important to better yourself for future advancement. To go more indepth, here is a definition that my clear up any questions that you might have: "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 & Kotler, Page 6 Chapter 2) Now that we’ve cleared the air and got a full analysis of SWOT, I think it’s about time that Koot’s Brüt Vodka provides our SWOT Analysis.

Our strengths here at Koot’s must be that we have such a fine product and great are here to prosper of customer relations but since we are a relatively new business, we are weak in being a well-known product and we have to work for product promotion and advertisement to further promote ourselves and get rid of this weakness. As in Opportunities, I believe we have a great chance because we are sold across most liquor stores across America and soon to be international as well as the club scene. We also sponsor a few concerts and venues in Las Vegas which will create great future opportunities. Last but not least would be our threats: One of our main threats is competition which will always be there. Another threat would be that our product doesn’t appeal to the market as well as other competing brands so we have to be on our A game at all times and looking for new ways to improve ourselves.