Slanket: Responding to Snuggie’s Market Entry Case Study and Marketing Analysis
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Introduction In 2003, Gary Clegg decided to start “a little project where he could make some money,” (Deighton & Kornfeld, 2010, p. 1) and began selling a wearable blanket with sleeves called “the Slanket”. Utilizing television and print marketing channels such as QVC, an at-home shopping network, and SkyMall, a retail catalog exclusive to airlines, the Slanket became a success with $5 million in sales by its
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| - | The original Slanket was manufactured in Maine but due to increased cost and slow turn around on delivery, the Slanket began outsourcing to China in 2006 (Burnham, 2009). | - | Unable to obtain a patent for the Slanket allowing competitors to enter the market (Burnham, 2009). | - | The Slanket does not have a clear direction on who their target market is, utilizing an undiversified marketing mix of SkyMall magazine and QVC At-Home Shopping (Deighton & Kornfeld, 2010). | - | The Slanket does not have product-line diversification. | - | The Slanket has no direct target market; uncertainty exists in current and future response and value perception of consumers. | - | Seasonable demand of product- higher demand in colder months, less in warmer months (www.compete.com, n.d.). | - |
Real Issue The real issue facing the Slanket is determining how the company should proceed following the aftermath of the Snuggie’s extreme success, to maintain long-term sustainability. Does the Slanket follow in the footsteps of the Snuggie and try to capitalize on their previous success or differentiate themselves through different marketing mixes.
SWOT Analysis
The SWOT analysis above represents the internal strengths and weaknesses of the Slanket company as well as the external opportunities and threats the company is faced with. Their strengths, providing a quality
In the SWOT analysis, the strengths, weaknesses, opportunities, and threats will be discussed. These would include employees, competition, global marketing, and the repercussions that
This review provides an in-depth strategic SWOT analysis of the company’s businesses and operations in the areas of internal strengths and weaknesses and external opportunities and threats. (Sector Publishing Intelligence)
The SWOT analysis is a great way for companies or organizations to determine their brand and product’s strengths, weaknesses, opportunities, and threats. In order to more effectively determine these areas, separation of internal and external issues within the company or association is crucial.
SWOT analysis is a study of the Strengths and Weaknesses (internal factors) of an organization as well as, the study of the Opportunities and Threats (external factors) of an organization (Mind Tools, 2016). After learning the strengths and defining the weaknesses of an organization, the threats can be eliminated making for more opportunities. A strength of CVS is the “pharmacy segment has a diverse network with 7,152 Long drug stores and pharmacy stores generating 68% of the total revenue (Kasi, 2017).” If CVS could team with Wal-Mart pharmacy, the revenue would increase. A weakness of the company is the security. Many robberies have been reported due to the organization and security measures (Kasi, 2017). If the reorganization of the
“A SWOT Analysis is the most used tool for audit and analysis of the overall strategic position of the business and its environment. Its principal purpose is to identify the strategies that will create a firm-specific business model. The plan aligns the organization’s resources and capabilities to the requirements of the environment in which the firm operates. The analysis is to evaluate any potential and limitations and the probable/likely opportunities and threats from the external environment. The results provide the positive and negative factors inside and outside the firm that affect the success.” A SWOT analysis is conducted to determine the strengths, weaknesses, opportunities, and potential threats to the organization. ("SWOT
Bob’s Supermarket SWOT Analysis shows the supermarket displayed strengths with having loyal customers, customer service, and a POS System that helped them “improve both their sales and profit margins” (Parnell, 2014). Their weaknesses showed they lack having attractive displays, a marketing strategy, “limited advertising and promotions” and “attract long-term workers” (Parnell, 2014). In fact, Bob’s Supermarket has the potential to take advantage of many opportunities such as expanding their “products or services” (Matsa, 2011), utilizing innovations, re-branding their image such as making uniforms with name tags available for employees, and remodeling the interior, lighting and fixtures of Bob’s Supermarket (Parnell, 2014). Their threats
Internal analysis are conducted so it can identify an organizations strengths and weakness. Threats and opportunities are identified by assessing the external environment. Either in its broad or competitive environment. The most essential result of a SWOT analysis is the ability to draw conclusions about the organizations situation and need for strategic action.
Swot analysis refers to the strength, weaknesses, opportunities and the threats that a business faces. Every company has its strengths, weaknesses, opportunities and threats that it faces.
I would strongly recommended Slanket to untie itself from this image and positioning by remodeling their website and making commercials that would emphasize its better quality, wider variety, and the social responsibility activities carried out by the company. Likewise, in order to represent the American values, they should advertise in sport events, or use themes such as fishing, hunting, BBQ’s, or any collective activity.
A SWOT analysis evaluates the company’s overall strengths, weaknesses, opportunities, and threats. Strengths include internal capabilities, resources, and positive factors in order to achieve its objectives and successfully serve its customers. Weaknesses are ways the company can be limited internally and factors that interfere with the company’s performance. Opportunities are external trends the company may use to its advantage. Finally, threats are external trends that may challenge the company’s performance.
The focus of the SWOT analysis is to identify the key internal and external factors that are important to achieving the objective. SWOT analysis groups key pieces of information into two main categories; internal factors and external factors. The internal factors are the strengths and weaknesses that are internal to the company while the external factors are the opportunities and threats that presented by the external environment. The internal factors are determined by their impact on the company’s objectives. What may represent strengths with respect to one objective may be weaknesses for another objective. The external factors may include technological change, legislation, cultural changes, and changes in the marketplace or competitive position (Wood, 2008).
The strength of the SWOT analysis comes derives from the way that it can be used for a wide range of business situation and in industries. And SWOT analysis weakness is that it needs clear thinking and good decision making ability to get any real qualities from using it. The best ways to achieve this is to concentrate on internal and external strengths and weaknesses. The strength is something that has positive effect on your business and it gives your organisation a competitive advantage. It includes your unique selling point, products, resources and what you
SWOT analysis covers the strengths, weaknesses, opportunities & threats which a company is facing in its internal & external environment. Strengths & weaknesses fall under the internal environment of the company and opportunities & threats fall under the
SWOT stands for strengths, weaknesses, opportunities, and threats (Ferrell and Hartline, 2014, p. 39). A SWOT analysis evaluates both the internal factors (strengths and weaknesses) and external factors (opportunities and threats) that create advantages and disadvantages to a company when serving its customers (p. 39). A SWOT analysis is extremely beneficial in helping a company determine areas of improvement (p. 39). Internal factors examine the actual company being analyzed while external factors examine the external market (customers and competition) (p. 85).