What Does SWOT Analysis Do, SWOT Analysis Example

SWOT

SWOT analysis is a planning method to fully understand the strengths, weaknesses, opportunities and threats for a particular project, event or action. With the SWOT analysis complete in identifying each of these key areas of the new product launch, the project team has better insight into each of the positive and negative aspects of the launch (Cooper, Grey, Raymond, and Walker, 2005). The identification of the key information in each one of these areas provides direction and insight into the activities that will need to occur during the development and product launch to ensure a positive and successful implementation.

Analysis

The strengths of the product revolve around the quality of the product, the branding strategy and the labor force on both the supply and manufacturing chains. The quality of the product ensures that the end good is reliable, functional and provides the level of customer satisfaction that builds return customers. The branding of the company provides an entry into the market that sets the product apart from the competitors which is important in the highly competitive market place. The labor force is focused on quality and takes pride in their work. This includes the entire product chain from the source material to the final construction and sale of the item. Each step ensures a value add to the product that is valued by the customer.

The weaknesses revolve around high pricing, limited promotions, hindered creativity and design. The price of the product is slightly higher than the competitors and focusing on promotions does not correlate with the current business model. The ability to push creative ideas from the ideation creation to implementation is hindered due to bureaucracy. While there are weaknesses there are still opportunities.

These opportunities include an increasing demand for the product, large target market and increased efficiencies of the supply chain. The demand allows for continued sales and allows for resources to be focused on retaining the quality of the product while also trying reducing the cost from the supply chain by increased efficiencies in the areas of lean management and six sigma opportunities. The threats to the product are the increased amount of competitors vying for a piece of the target market and the increasing costs of manufacturing. The increased competition will drive change to adapt and reduce cost while maintaining or creating value in the product and a focus on reducing the increasing cost of manufacturing by becoming less wasteful in the process is a necessity.

Works Cited

Cooper, D. F., Grey, S., Raymond, G., & Walker, P. Project risk management guidelines, managing risk in large projects and complex procurements. John Wiley & Sons.(2005). Print.