Situation/SWOT Analysis

It becomes necessary at some time in every company's life to evaluate their situation.  This includes both positive and negative elements, easily done using the SWOT analysis-Strengths, Weaknesses, Opportunities, Threats. Being truthful about the company is important, because it can prevent overlooking a threat or weakness, even an opportunity, because of ignorance to the issues. "The goal is to match the company’s strengths to attractive opportunities in the environment, while eliminating or overcoming the weaknesses and minimizing the threats."(Marketing: An Introduction, Armstrong/Kotler, ch.2 pg. 56) In Hammer Time's SWOT analysis, the findings, applying to the current time period, were as follows.  Strengths we possess are high-quality, moderate pricing, convenient exporting from headquarters, and strong company values.  Having high-quality merchandise gives an easy leg-up over competitors, because it creates a higher value.  Having reasonable prices is attractive to customers, because with us, it means they get a lot without spending a lot.  Having our headquarters in Canada makes exportation across North America and maybe someday South America, very simple and cost-efficient.  We can eliminate the need for cargo ships, and rely on shipment vehicles.  Also, being in a foreign nation, the United States' rules and regulations for production factories do not apply to us.  The Canadian economy allows us more freedom.  Weaknesses include: lack of company history, limited market information, and a fairly small target market.  Being new gives us the appearance of an inexperienced company to consumers and other industry groups.  Also due to to our company's adolescence is the lack of customer demographics.  And at this point, from the little we know about our target market, it includes a pretty small number of individuals.  Opportunities we can hope for may be changing society's common ideals of beer.  As said many times prior, we want to instill a stronger appreciation of beer in the minds of consumers, therefore, this could become an opportunity.  Threats Hammer Time faces are those caused by competition, and the legal drinking age, which restricts our product for anyone under age 21. With the many weaknesses Hammer Time has currently, it's important that we always provide the best customer service.  "I.n order to provide a great customer experience, find out what customers are facing—what their problems and opportunities are." (Marketing: An Introduction, Armstrong/Kotler, ch. 3 pg. 68)  While offering this great service, we'll likely reduce our weaknesses, expanding the limited market information, and changing our image of an inexperienced company, by obviously getting experience!