Situation Analysis or SWOT

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U.S. managers must develop a global vision not only to recognize and react to international marketing opportunities but also to remain competitive at home. Often a U.S. firm’s toughest domestic competition comes from foreign companies.

(Lamb Hair McDaniel MKTG Chapter 4 page 47)

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Selecting a strategic alternative according to the MKTG book is the next step in marketing planning. To discover this opportunity the management has to know how to identify these by the Ansoff’s strategic opportunity matrix which matches products with markets. It must also be identified the strengths and weaknesses and the opportunities and threats that a marketing manager will come across so that they will have little to none surprises.

Strengths:

• A different approach to fragrance with the use of Italian herbs and citrus from renewable sources.

• No other fragrance that I could find with a freshness use through date.

Weaknesses:

• Me not having knowledge of the industry or if my marketing strategy is enough to sell financial backers when I pitch them my idea.

• Needs more market research besides my brother and a couple of his friends and my dad. Some were mixed in feeling, but I said that it would not be a strong scent.

• Finances will also be an issue.

Opportunities:

• An opportunity to make changes in the fashion industry with regards to a new direction in fragrance.

• An opportunity to use all the tools used in marketing class to the fullest extent just to try and make a dent in a highly profitable, but very brand loyal market.

Threats:

• Again everyone has a favorite go to fragrance so brand loyalty will be something that has to be overcome.

• The competition has more finances to work with in advertising.