Please see the document illustrated below, then address the following.
SWOT Analysis Overview:
The SWOT Analysis is written in bullet form, (not submitted in essay form).
The SWOT Analysis demonstrates a clear understanding of these specifics:
· STRENGTHS that you bring to the market and that make you a formidable competitor
· WEAKNESSES that you know that you need to address, as your competition is aware of these (or may become aware) and will likely exploit these. Your WEAKNESSES should be addressed as soon as possible
· OPPORTUNITIES that allow you to capitalize on your STRENGTHS. Where might you grow your business and revenues?
· THREATS in the macroenvironment. These include those aspects that you cannot control, but they are there - the economy, the competition, political/legal environment.
Proposal:
As consumers, there are an abundant amount of products to choose from. With that being said, I would like to propose a product that has never been seen before. I would like to bring automatic hydraulic jacks or AHJ into the market. The following will describe the product, the target market and potential problems solved.
AHJ is a product that can be mounted to any vehicle. AHJ will be located on the corner of each axel allowing the individual to change a tire without having to haul a traditional jack to change a tire. The installation process will be very easy. A power source from the vehicle battery will be used to operate. The AHJ system will include a switch that operates each tire individually. Part of the vehicles computer system will contain a smart chip that allows this function to only operate in the park position.
The target market for this product would be all individuals that own a vehicle. AHJ would advertise to all generations that are currently driving a vehicle. The advertising team would have to be very creative to ensure that all members of the target market are interested in this new technology.
AHJ will solve all of your flat-tire changing needs. The worries of changing a tire with a traditional jack are now over. Individuals will not have to worry about traditional jacks slipping and taking the risk of the vehicle falling on them. With the current jack system it is very dangerous to change a tire on a slope or steep grade. AHJ is part of the vehicle; one can change a tire at any grade.
With any new technology, there are risks involved. With the proper research and marketing, the AHJ will be successful. The need for a safe system already exists. With correct planning, vision and appealing to the targeted market, this invention will be the next big thing.