TWENTY ONE VODKA
Situation/SWOT Analysis
SWOT (Strengths, Weaknesses, Opportunities, and Threats)
"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 analysis provides inputs to each of
the other marketing management functions." (Page 54, Armstrong & Kotler, Marketing: An Introduction)
Identifying the companies strengths would be the first step in trying to figure out how to go about with the rest of the analysis steps. By identifying the strengths we can pinpoint how well our product may potentially sell in the market. One major strength is the fact that Twenty One Vodka is new to the market and will be targeted towards those who are young, active, and just getting into the legal process of drinking.
One major weakness (that is also used to play off the strength of the brand, ironically) is the fact that the market of vodka is overly saturated and has been for many decades. This also poses a threat because of the many established companies that already have a close and dedicated customer base. How will our product fair in the large market of niche vodkas and how will it sell in the even larger market of liquor overall?
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