SWOT Analysis

“SWOT analysis identifying internal strengths (S) and weaknesses (W) and also examining external opportunities (O) and threats (T)” (MKTG, 9th Edition, 22). A SWOT analysis will help tell you how your product holds up, what it is amazing at and what it is lacking and can improve upon. The strengths of Choc is that its the first of its kind.  There are many different chocolate flavored lip balms and lipstick but none with the actual ingredient in high quantity.  Choc provides something no other brand can, natural authenticity.

"When examining internal strengths and weaknesses, the marketing manager should focus on organizational resources such as production costs, marketing skills, financial resources, company or brand image, employee capabilities, and available technology."(MKTG, 9th Edition, 23). Choc is in the luxury high fashion industry so our marketing and advertising reflects such meaning we tend to have high production costs, this could potentially be our biggest weakness although it depends on the R.O.I of the ad. We are also a new brand which is another big weakness as we do not have brand recognition yet.
 “When examining external opportunities and threats, marketing managers must analyze aspects of the marketing environment.” (MKTG Page 22)  This is also a strength that we have at Choc we know exactly who our target market is and know how to market to them to get them excited over the brand.