Situation or SWOT Analysis

For Joysticks to be able to succed it needs to know it’s strengths, weaknesses, opportunities and threats, that’s why we are doing a SWOT analysis

“Managing the marketing function begins with a complete analysis of the company’s situation. The marketer should conduct a SWOT analysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T)” (Marketing: An Introduction, pp. 55)

Strengths

• ·      We offer an experience like no one else.
• ·      We will host tournaments, which will keep our customers coming for more.
• ·      We offer complete attention and dedication to our customers.
• ·      Our Video Game selection will on customer’s suggestions.
• ·      We have an edgy new look.
• ·      We will use our connections in Venezuela to bring very best from there and offer an original menu.
• ·      We will satisfy every gamer’s taste.
• ·      We will support local indie developers.

Weaknesses

• ·      Since we’re just starting we need to build a customer base as soon as possible to be able to get things started.
• ·      We will spend our entire budget building and preparing the place, so we will need to start making profit soon.
• ·      Because of my lack of understanding for this country’s economy, I might make the wrong decisions with the prices.
• ·      Our menu might not appeal to as many people as we expected.

Opportunities

• ·      Virtually every teenager plays video games now a day.
• ·      Before us, gamers didn’t really have a good place to get out and share their passion with other real people.
• ·      People might love our unique menu and spread the word quickly.
• ·      Is easy to reach our target market with advertising.
• ·      Gamers are extremely competitive which means that they will keep coming to our tournaments either for revenge or to prove they are still the best.

Threats

• ·      There’s another place with a theme slightly related to ours.
• ·      Our location might no the most optimal since its in a place with very low traffic.
• ·      The market for gamers might not be as big as we are expecting.
• ·      We don’t know if in the future there would be room for expanding.
• ·      Since our competition has been here longer and has already made a name for themselves, it’s going to be hard to prove that we are better.

“Through strategic planning, the company decides what it wants to do with each business unit. Marketing planning involves deciding on marketing strategies that will help the company attain its overall strategic objectives. A detailed marketing plan is needed for each business, product, or brand… The main section of the plan presents a detailed SWOT analysis of the current marketing situation as well as potential threats and opportunities.” (Marketing: An Introduction, pp. 56)