STRENGTHS
Online Presence Limited staff required No costs for lease of business premises Low start up costs Quality Product Aussie Made and Designed IT knowledge Product is something to be proud of as it promotes safety No current competition in Australia Affordable Product Likely to have good financial returns Dynamic Marketing strategies |
· WEAKNESSES
Unknown Market Demand Marketing – need resources for strategic marketing supported by strong market research Financial Resources required IT Knowledge Sourcing Aussie product Cost of Aussie product Intellectual Property (IP) Rights not yet protected Communication with overseas producer Sustainable financial backing Risk Management strategies Return on investment Feasibility study because the product being developed is new |
OPPORTUNITIES
Potential customers worldwide Economies of developing product offshore New Product to market Product will assist in minimizing risks of drink spiking Product promotes personal safety Increased awareness of drink spiking risks Market Development – ongoing infiltration and education Possible development of strategic partnerships with Government agencies in the Health & Community Safety Sectors Contributes to the ability of individuals to take precaution when drinking. Free Marketing & Promotion through Social Media Sites |
THREATS
Competition from other online businesses Intellectual Property – Others copying the product and becoming competitors Market non-awareness of the issue of ‘drink spiking’ and lack of interest in personal safety Lack of investors Costs of importing from overseas Delays with importing from overseas Privacy - some customers still hesitant to shop online High Demand - Ability to keep up with potential demand Timing of financial returns |