SWOT: Strengths, Weaknesses, Opportunities
SWOT ANALYSES SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats. It is the most renowned tool for audit and analysis of the overall strategic position of the business and its environment. Strenghts * These drinks are low calorie yet tasty which is hard to find in every day drinks. * Neuro drinks are packaged in attractive bold coloured bottles which makes these drinks stand out to other bottled drinks. * The bottles in which Neuro drinks are packaged are fully recyclable.
This is a big strength as people are becoming more aware of the earth and recycling. * No competitor in Irish market can compete as it’s totally new and different to other drinks in Ireland. There is no opposing brand with exactly the same purpose. * These drinks boost specific brain or body functions. So if a certain one of these drinks doesn’t suit one consumer another one will. * The company is a proud sponsor of SPIN’s annual events held in Texas. * Strong, fresh ; fashionable brand identity Weaknesses Although Neuro drinks work they are only a temporary solution. So people cannot mistake them as a lifelong solution. * Neuro drinks contain caffeine which can become addictive resulting in the drink unhealthy for you. * These drinks are slightly higher price than your everyday energy/vitamin drink so families on a low budget may not be able to afford it. * We can’t stress enough how this drink should not be taken in place of a healthy diet. People may take it as that. It should be taken as part of a healthy diet. Neuro core benefits don’t fit into new trends , there are new trends to focus more on being natural, healthy ,new trends not only towards boosting body and brain but also memory ,intelligence ,lowers stress and depression accordingly RB seemsnot to be appealing to the next generation * over the past few years due to depreciation of the US dollar, American products have gained a competitive advantage in pricing; American products are less expensive for Irish and European consumers * Above average prices Opportunities Standard promotion and advertising will help to bring more customers attentions to these products, e. g. : Posters, surveys, sponsoring, and Articles. * We see a big opportunity for recognition through sponsorship of sports events. As one particular type of drink is made specifically to enhance and maintain sport performance. * Trust. We need out future customers to trust our drinks and us as a company. We intend to give out testers and create competitions for people to win and try our products. Hopefully a healthy image will be created of our product enough that people what to try. Potential opportunity to productline extension * The new cultural shift especially of guys towards body building and going to the gyms Threats * Company’s selling drinks along the same line. (e. g. Vit water, Red bull) are a big threat. We need to ensure our campaigning is enough to gain loyal customers. * However, Ireland’s GDP growth has been revised upwards from 0. 6% to 1% in 2013. And the inflation rate in Ireland was recorded at 1. 20%in December of 2012 * The fact it’s so new is a huge threat people have little knowledge about this product