SWOT Analysis

Identifying the potential strengths, weaknesses, opportunities, and threats, associated with my product, I wish to use the current threat and weakness, which is the ongoing recession that we are experiencing right now as a potential strength. "A recession is an excellent time to build market share because competitors are are struggling to make ends meet."-pg.290 Hair Lamb McDaniel-MKTG . Using it to my advantage on the idea that many people are tired of being down, depriving themselves of their wants just to save money in case of, and the fact of letting themselves fall victim to the mental idea of a failing economy never to rebound. I think, they are ready to engage in a life similar to the one before the recession when life felt more fulfilled, and they didn't have to worry about job cuts and foreclosures. Simply put, they just want to feel happy and acquire the good things in life, which is something that my product endorses. "The world is full of stimuli,"-pg.77 Hair Lamb McDaniel-MKTG, which my goal is to stimulate my customers' minds with the sense of satisfaction and fulfillment. Stimulating women noses will in return stimulate men confidence levels and therefore, stimulating both worlds. Guys feeling good about themselves will tend to forget, or ignore, the negatives that go on in life and throughout the day, and women who go to sleep and awake with good thoughts, will do the same, creating a happy customer which in return, will create a strength, and the potential for a successful business.

Other potential threats, of course, consist of direct competition with other fragrances on the market and the fact that the target market may not accept the cologne in general. I plan to market the fragrance on strictly the idea of pleasure and pure quality. Focusing on obtaining the best fragrance that is pleasing to both men and women, and gaining exposure, acceptance, and desire through innovative aroma, bottling and advertising.

I think there is a need for a breakthrough men's fragrance that socially inspired people can socialize with. There are many women perfumes that come out every year, usually bearing a famous celebrity's stamp on it but, very few men colognes that create a buzz around towns. Using this theory of mine, I plan on using this as an advantage, because after all, younger people always want the newest, latest, and most talked about thing to make them feel like they have a foot up on, and blend in with their social counterparts.

The raw materials are considerably cheap compared to the suggested price, besides the innovative bottling and holder, which increase production costs, but still keeps it at incredible profitable earnings. And having a, "competitive niche advantage"pg.21 Lamb Hair McDaniel-MKTG, such as the holder alone, increases the sales price, which brings more revenue. But, still priced with competitors, giving customers 'value.'; should foster a buzz, and according to Lamb Hair McDaniel-MKTG pg.94, "...increase dealer and consumer acceptance..."