“Managing the marketing function begins with a complete analysis of the company’s situation. 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. 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, Ch. 02, Page 55)”
Cocoa Cough’s strength would be that not only is the bottle and packaging not only visually stimulating to a buyer, but made of recycled material to save on cost. The cough syrup itself is of the highest quality with an unsurpassed chocolate taste. It will be supplied to specialty grocery stores, such as Trader Joe’s and Whole Foods, and select pharmacies around the country. Cocoa Cough’s weakness would be the fact that it mainly targeted towards young children and young adults, which could have it facing alienation from older adults and parents that are more health conscience and may be put off by the added chocolate flavor do to a concern about calories. A threat to Cocoa cough would be the other brands of chocolate flavored cough syrups, even though few in number, they are still competitive enough to challenge our bottom line.
Cocoa Cough’s strength would be that not only is the bottle and packaging not only visually stimulating to a buyer, but made of recycled material to save on cost. The cough syrup itself is of the highest quality with an unsurpassed chocolate taste. It will be supplied to specialty grocery stores, such as Trader Joe’s and Whole Foods, and select pharmacies around the country. Cocoa Cough’s weakness would be the fact that it mainly targeted towards young children and young adults, which could have it facing alienation from older adults and parents that are more health conscience and may be put off by the added chocolate flavor do to a concern about calories. A threat to Cocoa cough would be the other brands of chocolate flavored cough syrups, even though few in number, they are still competitive enough to challenge our bottom line.
“The company should analyze its markets and marketing environment to find attractive opportunities and identify environmental threats. It should analyze company strengths and weaknesses as well as current and possible marketing actions to determine which opportunities it can best pursue. 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. (Marketing: An Introduction, Armstrong/Kotler, Ch. 02, Page 56)”
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