Situation or SWOT Analysis

In order for a company to succeed and keep in mind of how their company needs to grow and flourish,  they must carry out a SWOT analysis. " The marketer should conduct a SWOT analysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T)." (Marketing an Introduction, Armstrong /Kotler, p.55) Strengths for a company are considered to be positive situational factors that can help a company serve their consumers, resources, capabilities, etc. The strengths for my Phileas Fogg "Camarones Ardientes" snack are that there is no other snack in the market that offers a hot spicy shrimp snack that goes well with alcohol. Another strength that my snack will have is the quality of the final product. The quality will be exceptional compared to the other snacks that are available in the market at this time. Consumers will want to try out my product because my snack will be savory and it will be as well extraordinary. A weakness is considered to be internal limitations/ and or negative situations that can get in the way of a company's performance. Since there are a lot of other snacks out there in the market, one of the weaknesses that my Phileas Fogg snack can have is that some consumers might not want to purchase the snack because of its cost, yet when they will try my product they will certainly be more than happy to buy it again. " Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage. " (Marketing an Introduction, Armstrong /Kotler, p.55) An opportunity for my Phileas Fogg snack is that our culture is more open- minded to explore new things. With this being said, the public will be more than happy to try my product. Another opportunity for my Phileas Fogg snack is that the target market that my snack that I am aiming for is willing to pay the price of my snack. "Threats are unfavorable external factors or trends that may present challenges to performance." (Marketing an Introduction, Armstrong /Kotler, p.55) A threat that I can see my Phileas Fogg snack going through is if my target market does not enjoy/ or like shrimp. Another threat that my snack can have is if my target audience does not enjoy a spice and their snack.