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Strengths
- Selling plaid at events they sponsor
- When new plaid comes in, it is advertised on Facebook
- Plaid bowties, very popular
- Help the college of agriculture when a customer
makes a purchase
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Weaknesses
- Being “bag” heavy
- Creating too many products in a short amount of
time
- Pricing of particular products (ex. Cotton scarf
& silk scarf)
- Not enough variety in designs
|
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Opportunities
- Having limited time sales/product promotions
- Adding more features to previous products
- Changing the message of the UK Plaid
- Working with other departments on the UK campus to
raise awareness for their products
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Threats
- Holding too much inventory at one time because
lack of sales
- Running into product licensing issues
- Providing too many free products to customers
- Eco-friendly environmental activists
|
For
every success story or failure in business they tend to have what is called a
SWOT analysis. The UK plaid is no different, providing strengths, weaknesses,
opportunities, and threats. The UK Plaid has strengths that include selling
plaid products at events they sponsor and the very popular bowtie collection
they have. When new plaid products come in they are advertised on facebook, and
for every sale UK Plaid makes they contribute a portion to the College of
Agriculture. Some weaknesses they have include being “bag” heavy and creating
too many products in a short amount of time. By doing so, UK Plaid does not
give its customers time to love the recently presented products. They also don’t
have enough variety in its designs, and the pricing of specific products like
the cotton scarf & silk scarf, which is twenty four more dollars than the
cotton scarf. As far as creating opportunities for themselves, UK Plaid should
increase its product promotions and add more features to their “founding”
products. They should also work with other departments on the University of
Kentucky’s campus in order to raise awareness for plaid products. Another thing
they should do is change the message of its products, because in previous years
customers would come in expecting to receive free products when they look at
the price tag of certain items that were just handed out before. For their
threats, UK Plaid tends to hold too much inventory at one time because of so
much lack for sales. UK Plaid might also run into licensing issues when they
partner with such stores as the Bookstore in the student center located on
campus. Since the bookstore is located on campus it is required to sell UK
licensed products only as part of its collection. Also, by providing too many
free products to customers they can make this an ongoing issue that creates
confusion in the views of the customer. Another threat that UK Plaid might run
into is how its products are made and the working conditions of its
manufacturers, this might create a continuous battle between them and the going
green perspective that environmental activists are leaning towards.
