SWOT Analysis

First we have to ask ourselves what a SWOT analysis is and it is something that a company does to include "Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives". Pg. 55, Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. Some of the "Strengths" to my product is that it is for babies and there may be a lot of blankets out on the market that is for babies and what differs ours from the competition is not only is it made by Americans for American children but it has the Las Vegas Motor Speedway logo on it as well as the ever so popular Las Vegas sign on a plush microfiber blanket. The reason we make ours out of microfiber is not only for its quality for softness but for the fact that it is made of microfiber so that when the blanket is keeping the child warm, the fibers that the blanket is made out of won't fall apart and find its way into the babies mouth like other baby blankets. "Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance". Pg. 55, Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. One of the "Weaknesses" to the blanket is that it is not as easily cleaned as of other blankets. It has to either be washed by itself or with like articles on the delicate cycle in which a lot of clothes washers do not have this setting and it can also be cleaned through your local dry cleaners. Also, since it is a non-profit organization and with the recession the way it is, it will create a challenge to find volunteers for such a cause. "Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage". Pg. 55, Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. Some of the "Opportunities" that are within grasp of the product is to implement licensing to ensure against anyone who would try to steal the idea of this blanket and sell it in their stores which is also a great opportunity for this product is that it can be sold at many different retailers across the country like Target and Carter's. "And threats are unfavorable external factors or trends that may present challenges to performance". Pg. 55, Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. A couple "Threats" that face this product is the competition that is out there as well as similar products that "look like" our product but none of them will be selling their blanket for charity and none of them will have the logos which appear on the blankets that we produce.