Question

Conduct a SWOT for the pet supply store’s new product. Each section should contain 3-5 bullets

Strengths

Weaknesses

Opportunities

Threats

Answer 1

Strengths:

1. Easy to promote the new product through existing pet owners network
2. Pet supply store's new product is an addition to the existing store which can be sold with the existing store's infrastructure.
3. Offers with new products
4. Referral promotion with the store's customers is quite feasible

Weaknesses

1. Demand is not estimated properly
2. Substitute and complementary products of the new products will influence its demand
3. There may be a requirement for additional fixed cost investment
4. Piloting has not been made yet

Opportunities

1. The new product can be scaled up with other pet products being sold in the store as a complementary product
2. Free of cost promotion through one to one or in group mode through social media
3. Online supply of the product
4. Home delivery of the product

Threats

1. Cutthroat competition in the market Product may or may not be liked by the pet owners and the non-liking of the product may have a quick spillover effect
2. With scaling up of the product existing production infrastructure may not be sufficient.
3. Technological change in the national and international market may bring a superior product in the near future to which the store may not adopt