Swot Analysis: SWOT Analysis Of Riversong

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SWOT Analysis
INTERNAL FATORS/EXTERNAL FACTORS STRENGTHS
1. Structural advantages like strong neck
2. Several sources and diversified offerings
3. Innovation design and unique product with high quality part
4. Local sources
5. High quality of sound (deep and rich)
6. Using knowledgeable and technical staff
7. Using social media like YouTube, Facebook and Twitter to show innovation and quality of products
8. Reduce adjustment time 5 min)
9. Patent pending
10. Authorization by well-known artists (Blue Rodeo)
11. Reduce production time WEAKNESSES
1. There is not enough demographic information for target buyers.
2. There is no specific marketing plan and promotion
3. Higher than normal dealer and sales person margin
4. Riversong is not a well-known brand in music industry
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Online competition:
Ask participants record the video while playing their favorite song with Riversong’s products
Upload the video in YouTube and Facebook page and share it with their friends to get the most like.
III. Demonstrating technical session
Teaching a fundamental of guitar care
Introduce different guitars
• Community Investment (Total Budget: $5,000)
Music is a powerful tool that can inspire, comfort and express people’s thoughts and feelings so Riversong would benefit from giving back to their community.
• School music (Total Budget: $6,000)
Running music class in schools to create brand image
Donating traditional basic guitar to start long term relationship with potential customers.
Evaluation/Control
The main indicator is the market share in this industry. Riversong is focusing on long-term goals and try to make a good image and strong relationship with its customers. By tracking market share can analyze the marketing strategy and find advantaged and disadvantages of it.
Social media can be a good indicator as well as online reviews and critics, product selling numbers, and return on investment and asset of the

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