My daughter is starting her own business and I have agreed to help her with a business plan. I need to complete a SWOTT analysis and create a hypothesis for each of the 7 issues I have listed, discuss the circumstances, characterize the importance of each issue and test the accuracy of the importance.
A brief description of her business is as follows, including 7 issues to be analyzed.
Cutie Photootie
Cutie Photootie is a mobile, on-location, family photography studio that was born in L.A. and currently resides in the South Suburbs of Chicago. As a mother, my philosophy is that children are most comfortable in their own home. Cutie Photootie brings the studio to you!
As a nature photographer, I was surprised to find that few family portrait studios provided more than the typical shopping center, Christmas card style photos. I wanted to capture those natural, loving moments I had at home with my daughter, and it was so hard to replicate that in a 30-minute session at the mall, especially when baby girl was away from the comfort of our home.
My love of nature photography became a love of natural family photography. From there, Cutie Photootie was born. I do the photography at your home or a location of your choice. I care for your images from beginning to end. My hope is that you see each photo is taken through the eyes of a professional and a mother.
I'm ready to capture the unique personalities of your little ones, as only you know them, in the comfort of your own home.
SWOTT items
1. Mother/One internal factor that is both a strength and weakness is that she is a mother of an 18 month old little girl. The advantage is that she can take these pictures through a mother's eye. She understands the value of a child's photo ~ from newborn through childhood. The weakness is that it limits the time she has available for photo shoots, editing, etc.
2. Lack of Reputation/One internal weakness is that she recently moved to the Chicagoland area and began her business in 2011. She was recently residing in LA.
3. Demographics/An opportunity: The Chicagoland area is highly populated and offers many potential customers.
4. Economy/Threat/The downturn of the economy has reduced the disposable income available for most consumers.
5. Product Differences / Brand Identity/ Threat: Competition is high and many offer the same products. Owner must be creative and find a differential.
6. Trademark/opportunity: The company is planning to file for a trademark for their business.
7. Value interpretation: trend. Today's focus is leaning more toward value rather than price. Consumers are not interested in getting the cheapest product, they are looking for something that is important to them, something that offers on-trend, quality value (Dark, 2010).
Dark, J. (2010, December 22). Photography - five key trends for 2011. Retrieved August 28, 2011, from Catalog-Biz: