An important essential to a new business, is to understand ones knowledge with one’s own advantage and disadvantages within the company. Here at Chocolate Scrumchus our dedicated employees are always finding new ways to advance our business along with helpful comments from our customer base integrity. It begins with creating a “… SWOT analysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T). (Marketing an introduction, Armstong/Kotler, pg 55)”
“Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives.(55)” at Chocolate Scrumchus, we are aware that our chocolate is different from all chocolate product seen in today’s market. We are devoted to the research and development of our product line and company. We believe we are also going to be a very competitive Firm in the Chocolate community .Not only would we be committed to our company but we will be dedicated in help our community, as well. “ Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance.(55)” Chocolate Scrumchus is will aware that as a strength that our chocolate is different this is also our weakness. It’s in Human nature to be afraid of something new, however we are determine to make a hit with Chocolate Scrumchus, as the new chocolate sensation. Making it difficult for most customers to transition from what they are committed to already. Another factor, would be who be approach our products to the public eye. Advertisement is very important to get ahold of our future customers. “ Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage.(55)” As a company, we enjoy innovative ideas for our product and welcome any new product that want to jump on to the fun wagon. Give us opportunities to venture to other companies to create a new chocolate smothered treat. Making it possible for our company to become a Global business within the chocolate world.“ And threats are unfavorable external factors or trends that may present challenges to performance.(55)” Again, the thought of our produce to go downhill, if it does not appeal to the public would damage our chances to thrive and branch out. Knowing there are many Chocolate products out in today’s market doesn’t help us. Yet, we believe this is where our advertising department can inspire potential customers, and customers can refer our products.
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