Situation/SWOT Anaylsis

I believe marketing is the most fun part of making a product. It involves a lot communication with my customers and it helps me share what I can bring to the marketplace in a creative way. Unlike most elements of my product, marketing does not have any boundaries. I can be very creative like for example by mapping out marketing plans and strategies. But before I begin any marketing campaign I would put together a SWOT analysis of my product. This basically stands for my products strengths, weaknesses, opportunities and threats. The plan or foundation is my product and the services I will be offering, along with my personal talents and abilities.  “Setting the right price is one of the marketer’s most difficult tasks. A host of factors come into play. But finding and implementing the right price strategy is critical to success.”  If customers see that my product has features that are different to the market, also offer great customer service, have lower prices, this would help my product grow. Making sure that each of these things are pointed out in my marketing pieces and speak about these strengths to both current and potential customers. Weaknesses are those elements that keep me from offering the same level of products or services as my competitors. That is something that the people I would be selling to wouldn’t be interested in and probably wouldn’t buy from me if I sound like the rest of the products I would be competing with. Determining my product weaknesses will help me to improve my products and services in the future. It wouldn’t be wise to point out my weaknesses when presenting my product to my future and present customers.