SWOT Analysis on internal and external factors: -
- Conduct a SWOT analysis to have a clear understanding on the potential to become successful depending on the strengths and opportunities that may arise.
- You should also anticipate possible threats and identify areas in which they are weaknesses and show your plan to overcome them. This analysis on SWOT should be based on the identified external/internal factors and any other factors that are relevant.
As for example, word-of-mouth is an effective form of communication which is considered as an external influence by friends or other groups and may persuade people to buy products/services. Companies with established social network platform enjoy an advantage and possess strength in this area. If the chosen target market is heavily guided by such communication, it may create opportunities to use social media platforms as possible communication strategies.
NOTE: -
Internal Factors: -
There is numerous internal factors that we considered when making ‘Activise Tea'. As tea already has a large target market and many different varieties for customers to choose from, we need to incorporate functions in a tea that have to not previously been used. Hence, a business structure in crucial in order to obtain success for the brand while making sure there is good communication with customers in order to successfully meet their needs and wants. Another internal factor is business stability to determine the standard of the product maintaining the expectation established over time in order expanding their customer base.
External Factors: -
Our product, Activise tea is not situated between any particular class due to the product being highly affordable, the lack of caffeine enabling a high range of age group to use our natural energy booster. We have a product that allows customers to consume the product without the worry of harmful chemicals. The use of natural alternatives enables the use of this product for energy boost in sporting events, along with those people that are intolerant to coffee.
Note About Assignment: - It is a group assignment so My part is SWOT analysis. So I have to relate to Internal and external factors which we've included in previous draft. SO I've added the internal and external factors and also you can add few from yourself. Please add 2-4 scholary source reference and in Harvard style. Word Count is 750 each so I need to prepare 750 words of SWOT analysis.
About Assignment: - we are making a new product name Activise Tea.