SWOT Analysis

SWOT Analysis is a beneficial marketing technique for knowing the companies strengths and weaknesses, for identifying opportunities open to you, and noticing the threats you face as a business. Marketing planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives. A detailed marketing plan is needed for each business, product, or brand." (Marketing: An Introduction for Education Management Corporation, 10th Edition.) Pretty in Pinks strengths will be the fact that women will buy it. It has such an appealing look that even if it doesn't taste amazing to a consumer, which it will, they will still be happy they bought it just for the bottle. Its sweet pleasurable taste will satisfy anyone who enjoys a fruity cocktail. The vodka infused with strawberries and wine is a different combination that no one that I know of has used before. Weaknesses and threats we may have are someone having the same or similar product. Even if we did have the same product as someone else, we willl try our hardest to win consumers over. As the book says "One firm can have essentially the same strategy as another, yet win in the marketplace through better execution."(Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions p. (Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions p. 57) To draw concumers to my product I will see to it that I have the best execution. "Planning good strategies is only a start toward successful marketing. A brilliant marketing strategy counts for little if the company fails to implement it properly."(Marketing: An Introduction for Education Management Corporation, 10th Edition. Pearson Learning Solutions p. 57) I will have a strong team to plan the most brilliant strategies, produce a marketing plan, and implement Pretty in Pink properly so that we come out on top. If my team works together and takes full advantage of opportunities handed to us we will 100 percent be successful.