Situation or SWOT Analysis
According to Gary Armstrong,
“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)…” (Armstrong, G., & Kotler, P. (2013). Marketing: An introduction (11th ed., p.
54). Boston: Prentice Hall.) And so, I will begin my SWOT Analysis. The goal of
SWOT Analysis is to allow a business to “…analyze its markets and marketing
environment to find attractive opportunities and identify environmental
threats.” (Armstrong, G., & Kotler, P. (2013). Marketing: An introduction (11th ed., p. 54). Boston: Prentice
Hall.) Once this analysis has been performed, it can be used as a tool to
capitalize on its strengths, and minimize its weaknesses.
Strengths
- Mobility: Since the Cluck Wagon is mobile, it will be able to go to wherever the customers are. We will be able to determine demand prior to arriving at destinations, by utilizing the various social media outlets, combined with our website.
- Experience: I have years of previous experience in food service industry. I have designed, opened and helped operate several restaurants. This experience should help me avoid various pitfalls.
Weaknesses
- Nomadic Nature: We will be without a fixed ‘home base’. The fact that we will have no fixed location means that some customers will have to actively seek out where we will be on any given occasion, and then come to us. Also, we will have to pre-plan and/or negotiate new locations daily. This could translate into daily challenges.
Opportunities
- Customer Base: When it comes to customers, the sky is the limit. Las Vegas is a great location, supplying a virtual plethora of tourists, and approximately two million locals. Customers can be found on construction sites, warehouses and factories, and offices all over the city. There are many potential customers here, and with them, lots of opportunity.
Threats
- Competition: There are already many food trucks operating in Las Vegas. This means that we will have to carve out a niche for ourselves, by chipping away at the business of others.
- Fuel Prices: The price of fuel fluctuates, wildly at times. Since we will rely on it to get to destinations, our bottom line could be adversely affected.
