Before considering to put any kind of product on the market, a company should definitely perform a S.W.O.T. analysis. "The marketer should conduct a SWOT analysis, by which it 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."(Marketing: An Introduction; Armstrong/Kotler; 2 Company and Marketing Strategy Partnering to ... pg. 31) One our biggest strengths at Andes Vodka is that not only does it have the smoothness from our filtration process with the Andes Mountain water, but the luscious taste of the grapes as well.
"Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance." (Marketing: An Introduction; Armstrong/Kotler; 2 Company and Marketing Strategy Partnering to ... pg. 31) There aren’t too many flaws with our product. The only downfall I could think of it that the price might be too high for the general public.
"Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage." (Marketing: An Introduction; Armstrong/Kotler; 2 Company and Marketing Strategy Partnering to ... pg. 31) Since we do consider ourselves a luxury brand of vodka, the opportunities may seem endless, especially in this town. There are multiple luxury casinos, bars, and restaurants that may want to consider endorsing our brand of vodka. "And threats are unfavorable external factors or trends that may present challenges to performance."(Marketing: An Introduction; Armstrong/Kotler; 2 Company and Marketing Strategy Partnering to ... pg. 31) I guess you could say our only threat would be our competition of luxury brand vodkas, or possibly maybe our price point.
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