“IT’S POPCORN TIME!” SWOT ANALYSIS Caroline Westhall-Miller “It’s Popcorn Time!” Marketing Department Colorado Technical University Online Instructor John Cote MKT305-0803A-07 : Marketing and the Virtual Marketplace July 17, 2008 This SWOT Analysis presentation is created to be a visual explanation have how we will understand and maximize marketing opportunities for “It’s Popcorn Time!”.

BREAK IT DOWN S W O T TRENGTHS > INTERNAL EAKNESSES > INTERNAL PPORTUNITIES >EXTERNAL T HREATS > EXTERNAL The “SWOT” analysis is a fundamental tool in business planning for examining the advantages and disadvantages within an organization and its environment. The SWOT analysis is a strategy that will help IPT and the marketing team to focus on issues that directly affect how successful IPT is or isn’t now, or can be in the near future. SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal factors. Opportunities and threats are external factors. The SWOT Analysis is also a great tool for the “brainstorming” stage of your marketing plan, then zero in and focus in on the factors discovered, and evaluate them. It is important to remain objective about the strengths and weaknesses of your organization. The SWOT analysis should distinguish between where your organization is today, and where it could be in the future. Do a specific and thorough analysis, avoid grey areas. Utilize SWOT and apply it to our competition, are we faring better than or worse than our competition? Keep the SWOT thorough, but to the point. Avoid over complicating facts or becoming too “theoretical”, save that for the next steps. A SWOT analysis can tend to turn primarily subjective, and while we need to examine those aspects, we cannot let the facts get lost in the wind of opinions.

STRENGTHS AN INTERNAL FACTOR WHAT DOES THE COMPANY DO WELL? WHAT MAKES US UNIQUE? WHAT MAKES US STRONGER THAN OUR COMPETITION? LOYAL (RETURNING) CUSTOMERS Strengths should be observed from the perspectives of the: The company a. Our unique process for the thicker chocolate, and finer confectioners sugar coatings for the popcorn while maintaining the crisp and flavorful integrity of the popcorn. b. Established local businesses, (several storefronts). The competition a. Grandma's Treats, distinctively a rival company and several Amish family businesses who have expressed preference to remain independent of “It’s Popcorn Time!”, like us, specialize in gourmet gifts and treats. b. Should we can come to a consensus that we aim to be the more “sophisticated” of choices, this will greatly appeal our new target markets, and set us apart from the competition to our present markets. 3. The customer a. We have a loyal customer base that keeps our store front businesses going. b. Bulk sales to local gift basket producers and caterers thriving.

WEAKNESSES WHERE ARE WEAK WHAT ARE WE WEAK IN WHY IS THERE A WEAKNESS HERE OR THERE? HOW IN WHAT WAYS ARE WE WEAK? *Important to note to be straightforward and un-biased about our weaknesses. It’s not personal, it’s business. It is kind of like going for a check-up, we all benefit as a whole group if our company, or “body”, is healthy. Where- Relying on managers to run the stores and outside salespeople to develop relationships with resellers of its products. What- Competition. Our two major competitors, the Amish businesses who desire to stay independent of coming on board with us, and “Grandma’s Treats”, the rival gourmet food producer, where two of our former sales staff are now employed. Why- Lack of a marketing and expansion plan to fulfill Kiana’s vision; until now. How- The managers are overtaxed of time and energy working overtime running stores and dealing with outside people instead of concentrating on keeping individual stores running efficiently and profitably.

OPPORTUNITIES MARKET DEVELOPMENT PRODUCT DEVELOPMENT DIVERSIFICATION WHICH OPPORTUNITIES COME FIRST? Market Development Increase sales by sending sample packages to try, and selling present products to new markets, Metro areas of D.C., New York City, New Jersey, and beyond. Take advantage of foreign interest and appeal in trying new products, just as we might be. If we were a customer, what would we need, want, or be interested in? Product Development a. Offering new and/or improved products. b. Develop strong customer knowledge of loyal customer, and potential customers. C. Discovering new ways to satisfy customers. 3. Diversification a. Moving in different directions and venues, especially in the e-market. b. Explore different products to offer, or complement and that “go along with” existing ones, keeping with a particular theme, yet offer fresh perspectives. c. Explore different markets, making, then meeting the “connection” through existing ones. 4. Various opportunities a. Seek to grow enough from profits made from new market opportunity expansions and sell our products from our own new branch of business of bulk to local gift basket producing and catering. We need to examine if in the long term, this is cost effective. b. Increase profits from where you stand in experience and strength. c. Utilize current strengths and develop targets beyond local and international borders.

THREATS: DON’T DROP THE BALLS ARE OUR COMPETITORS STRONGER? IF SO, IN WHAT WAYS? DO THE EMERGING TRENDS MAGNIFY ANY OF YOUR WEAKNESSES? CHANGING LAWS, REGULATIONS AND/OR TAXES EXPECTED INCREASE OF EXPENSES New developments, internally or externally we are unprepared for. It is worth a little time to have plans in place for unexpected occurrences. If we evaluate probable threats along with the existing ones, we can be in step, and one step ahead. A threat can come disguised as an opportunity. Growth and change in potential markets and the competition that we are not in step with. Significant changes in the economic, political/legal, technological, or socio-cultural environments. Progressive changes in the area demographics if your business has local interests, and in any areas you serve.

SOURCES Cote, J CTU Online. (Ed.)..(c. 2008). SWOT Analysis Strengths, Weaknesses, Opportunities, and Threats[Powerpoint Presentation]. Colorado Springs, CO: CTU Online. Retrieved July 18, from CTU Online, Virtual Campus, BUS300 MKT305 https://campus.ctuonline.edu Marketing Teacher Ltd 20 (2008). SWOT Analysis: Lesson Strengths, Weaknesses, Opportunites and Threats (SWOT). Retrieved July 18, 2008, from http://marketingteacher.com/Lessons/lesson_swot.htm

SOURCES Perrault, Jr, W. D., Cannon, J. P., & McCarthy, E. J. (2008). Marketing’s Value to Consumers, Firms, and Society., Marketing Strategy Planning (pp.18-20, 44, 51-53). In Essentials of Marketing A Marketing Strategy and Planning Approach (11th ed.). New York: McGraw- Hill Irwin.