1 COMPANY OVERVIEW
1.1. SWOT analysis
SWOT analysis is a tool to identify strengths, weaknesses, opportunities and threats of a particular company. Strengths and weaknesses are internal factors that create value or destroy it. Opportunities and threats are external factors that a company can’t control. It is a representation of the situation of a product or service to the market. (4)
The purpose of the analysis is taken into account in the strategy, both internal and external factors, maximizing the potential of strengths and opportunities and minimizing the impact of weaknesses and threats. SWOT analysis identifies strategic areas to develop. It can be used to verify that the strategy put in place a satisfactory response to the situation described by the analysis. (4)
INTERNAL ANALYSIS
STRENGTHS
-Skagen Design frequently release new and update designs keeping current customers interested in their products and attracting new customers with new designs.
-Skagen’s fast pace of growth, the company has been listed as one of the fastest growing companies in the U.S.A. by publications such as Inc. Magazine.
-Skagen Design watches have a relatively high product recognition with their watches launched in popular magazines such as vogue, sponsorships of popular T.V. shows such as Ally McBeal and use of outdoor advertising such as billboards.
-Diversification in fashion accessories: handbags, jewelry, sunglasses. WEAKNESSES
-The limited range of products Skagen Design is producing limit the revenue and profit the company can make.
-With watches only available in mainly Europe and North America, Skagen design doesn’t have the global reach of most of its competitors.
-Skagen Design is only a small company in comparison to its competitors w...
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[3] Euromoney Institutional Investor PLC. Euromoney Country Risk. 2014. Available from: .
[4] European Commission. L’analyse SWOT. European Commission: 2014. Available from: .
[5] FranExcel. Advantages And Disadvantages Of Franchising. 2014. Available from: .
[6] HOLLENSEN, S. Global Marketing. Harlow: Pearson Education Limited, 2014. 6th edition. 792 p. ISBN 978-0-273-77316-0.
[7] HOLLENSEN, S. Global Marketing: A decision-oriented approach. Harlow: Pearson Education Limited, 2011. 5th edition. ISBN 9780273726227.
[8] Skagen Denmark. Skagen Denmark. 2014. Available from: .
Kotabe, M., & Helsen, K. (1998). Global marketing management. Temple University. New York: John Wiley & Sons.
...design are lower than other competitor’s. For example, they have ultra fast computing power but our brand just has high speed computing power. Thence, some competitors which Workhorse chose their product are just they want and need.
A SWOT analysis is an acronym that stands for Strengths, Weaknesses, Opportunities, and Threats. SWOT is a planning evaluation used by businesses and organizations.
Just contrary to Porter’s five forces model, the SWOT analysis deals with both internal and external variables and forces of the company. The main quality of this analysis is that it is helpful in tracing out the real position of the company along with its strengths, weaknesses, opportunities and threats or the self-assessment. Consequently, it offers the company a proper framework to formulate, vision plans, strategies and goals. Here, it should also be assumed that the SWOT analysis includes both internal and external factors, whereas Porter’s five forces model only deal with external factors ignoring the internal factors.
SWOT analysis is a necessary tool for business that allows corporations to analyze where their strengths, weaknesses, opportunities and threats lie. The SWOT tool contains paramount information about the industry and helps the executives of the business make decisions that are necessary for the business’s survival and success.
The SWOT analysis (abbreviation for Strengths, Weaknesses, Opportunities and Threats) is an essential tool in marketing for understanding and supporting decision-making in all kinds of situations in business and organisations. In brief, it provides an accurate context for studying strategies, positions and directions of a company proposition. It is used mainly for business planning, competitor evaluation, marketing, business and product development and research reports. SWOT analysis is also a widely recognised method for gathering, structuring, presenting and reviewing extensive planning data within a larger business or project planning process. (Chapman, 2014)
Dansk Designs Ltd., founded in 1955, is a company that markets stainless steel flatware. The firm traditionally followed a strategy of differentiation. They produce high quality products for the “top of the table”. Their goal was to reach a small market segment, which consisted of upper class, prestigious customers. Dansk Designs wanted to sell the concept of the Dansk brand, and believed their consumers would purchase the Dansk products because of the prominent brand name and because the products were the very best in taste and quality. Ted Nierenberg, the founder of Dansk Designs has recently decided that he wants to keep Dansk growing at 15% to 20% per year. Nierenberg feels as if his current product line will not provide sufficient growth to meet his objectives, and believes it is in the company’s best interest to introduce a new line of house ware products called Dansk Gourmet Designs Ltd. Nierenberg believes they should market this new line to a much wider group of consumers at competitive prices. However, I believe that although expanding into a new market with a new product line will increase short-term revenues, in the long run it will be detrimental because the new line will dilute the brand identity of Dansk Designs. If Nierenberg wants to grow every year 15% to 20%, I believe he should consider ways to lower costs instead of increasing volume and revenues.
A SWOT analysis is simple exercise that could be implemented on multiple subjects including an individual or a whole corporation. The SWOT analysis is an operational tool for managing change, defining strategic direction and setting realistic goals and objectives according to Simoneaux and Stroud (2011). Discovering new opportunities and manage and eliminate threats that are present in the company and the surrounding market. SWOT is a valuable technique that leads to a better understanding of the strengths, weaknesses, opportunities and treats both internally and externally. The strengths and weakness are to be considered internal factors and opportunities and threats to be e...
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill Company.
A SWOT analysis is a measure tool to summarize a company’s internal and external aspects. By measuring the company’s strengths, weaknesses, opportunities and threats and looking for improving solutions by using the strengths and opportunities to improve on the weaknesses and take the necessary actions concerning any threats a company can survive in today’s world market.
What is a SWOT analysis? This concept involves assisting businesses to identify their strengths, weaknesses, opportunities and threats. It is often used to analyze an organization and its environment. Businesses find the analysis useful in assisting them to improve their business, establish goals and objectives.
The SWOT analysis is used to gauge a company’s strengths and weaknesses. It also outlines opportunities for tapping and presents possible threats that could affect a company’s operations.
Because in case of global marketing analyze the factors that need to be taken into account are significantly more, including the economics, environment, cultural differences that is going to affect the analysis of situation. The issues of marketing strategy were covered in detail during classes and this knowledge was cemented with the report I had to write as a part of project assessment that marketing analysis .It was very challenging and interesting at the same
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill.
Kotler, P., & Keller, K. (2012). Marketing management (14th ed., Global ed.). Boston, [Mass.: Pearson.