Our company exists to provide customers with the highest quality carbon fiber bicycles and accessories. Carbon fiber bicycles are a fast-growing industry, and we intend to be the go-to resource in this field. Our company looks to serve carbon fiber cycle enthusiasts, as well as convert cyclists from other markets to ours. We will effectively serve both recreational and professional riders. We will be a proven industry-leader in providing both quality and affordability. Consumers will seek us out for our honest policies, helpful guidance, and quality products. Our company will be remembered for our superior customer service and first-in-class products.
Mission Statement
Downforce Cycling is committed to the safety and outstanding customer service for our riders. Our mission is to design and provide lightweight, secure, aerodynamic bicycles while assisting customers to find the bike that suits them best. Our company serves recreational and professional bicyclists who want to shred the tracks or just want to joy ride. There's nothing more important than creating five-star quality products that adhere to your needs. When you come to Downforce Cycling you'll be returning for our superior customer care.
Objective
Develop a situational (SWOT) analysis and your product's competitive advantage(s).
Your Marketing Planning Document will be broken down into three sections.
Prompts and Guiding Questions
SWOT Analysis
Remember, a situation / SWOT analysis is used to analyze the internal and external environment of an organization and the firm’s own capabilities, customers, and business environment.
Develop a two-by-two matrix.
Synthesize your findings from your two-by-two matrix.
Strengths are competitive advantages or core competencies that give the organization an advantage in meeting the needs of its customers.
- What are your product/company’s strengths?
Weaknesses are limitations a firm has in developing or implementing a marketing strategy. - What are your product/company’s weaknesses?
Opportunities are favorable conditions in the environment that could yield rewards for an organization if acted on properly. - What opportunities does your product/company face?
Threats are conditions or barriers that may prevent the organization from reaching its objectives. - What threats does your product/company face?
When examining internal strengths and weaknesses, you should focus on organizational resources such as production costs, marketing skills, financial resources, company or brand image, employee capabilities, and available technology. - What resources are contributing to both your internal strengths and weaknesses?
When examining external opportunities and threats, you should analyze aspects of the marketing environment (forces, events, and relationships in the external environment that may affect the future of the organization. The six most common forces are social, demographic, economic, technological, political and legal, and competitive. - Identify and explain which forces within the marketing environment are providing you external opportunities and threats.
Based upon the ideas you generate in your two-by-two matrix, prioritize them into statements.
Describe how you plan to match your Strengths to Opportunities, while Converting Weaknesses and Threats to your favor.
Specifically: Match your strengths with your opportunities (how can you capitalize on your strengths with this / these opportunities?).
Sample Solution