Suggest to choose a product, any product you want and wish to launch it in any c
ID: 3450419 • Letter: S
Question
Suggest to choose a product, any product you want and wish to launch it in any country of your choice, and complete a SWOT analysis.
In order to do a SWOT analysis you will first have to do background research and analyze the situation.I would like you to provide some information about the background of the country, about your product idea, your target market, etc.
Then, you are to write a SWOT analysis (strengths, weaknesses, opportunities and threats). Thoroughly discuss each element and tell me why you think what you think.
Explanation / Answer
S= Strength
W=Weakness
O=Opportunities
T=Threats
SWOT is a beautiful tool of business especially in case of analysis of an product at the time of launching it in a market or to re-analyse it if sales have gone down.
Generally a product , wheather it will run or fails to establish in the market for which it has been targeted , depends upon the economic scenerios of that place. GDP, per capita income etc matters while doing the pricing of the product. We can also follow Phillip Kotlers theory of 4 P,s of marketing in which 4 P,s are : Place, product , price and promotion . Now a 5th P has also been added into it called Packaging.
So, according to the theory, for a business to make it successful he wants to say that product will also depends upon the place and not all the products can do successful business in every place.
In this case , as we are free to choose any product and country so I am choosing an FMCG product which is " toothpaste" and country is India. As we all know that India is a third world country , though it has an emerging economy and with a huge population , several foreign companies are eyeing this country for doing businesses of several products. To tell you further , this country,s buying behaviour , people of this country likes foreign products if their pocket permits.
Now as I have choosen the product "toothpaste", already it is a developed market and more than 20 FMCG companies with few foreign companies and each company having more than two or three different categories are doing business in this market.
DETAILS OF MY PRODUCT: Herbal toothpaste with germicheck formalae and 24 hours protection. Price Rs 30/- for 100 grams tube of toothpaste.
SWOT analysis of this product are as under:
S= Peoples in this country are now health concious and started thinking twice before using chemicals, but they are concerned about the prices also. Strength of my product is that it is herbal , competitive with other features like stops decaying of tooth etc or stops bad odour from mouth , strengthen gums etc and price is comparatively less than the other established brand like colgate, close up, amway, oriflame etc etc . Colgate prices are around Rs 50/- and amway costs around Rs 200/- approx. If my quality is maintained along with ISO certification etc then I will capture the market share .
W= My product has no popularity in the market and people will think before buying this product for the first time , thinking if its a wastage of money for them.
O= Opportunity is that price is low , so I can target lower income group peoples also , as there are peoples in this country who thinks of using NEEM LEAF( a herbal tree which controls bad odour and germs in the mouth, found in India). Small pouches of Re 1/- can make this product more popular in the interior areas.
T= Other companies are established here in this market , so if they started offering at discounted price and budgeted more on the 4th P i.e promotion of the product.
Overall scenerio in SWOT analysis is good to launch the product in this market because for other companies , discounting at around 30 to 40% on price will not be an easy job to do , as it will hamper their setups of distributerships interests on business and office and other expenses.
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