Swot analysis

SWOT Analysis

Weaknesses

* Small player in big market * Product line * Reputation unknown * Limited venture capital * Brand awareness
Weaknesses

* Small player in big market * Product line * Reputation unknown * Limited venture capital * Brand awareness
Strengths

* Patented insole technology * Price Strategy * Sustainable manufactoring process * Product innovations ongoing.
Strengths

* Patented insole technology * Price Strategy * Sustainable manufactoring process * Product innovations ongoing.

Threats

* National economic stability * Saturated market * Strong competition * Seasonal market fluctuation

Threats

* National economic stability * Saturated market * Strong competition * Seasonal market fluctuation

Opportunities

* Government incentives * Growing target market * Proprietary technology advantage * End-users respond to new ideas * Government incentives

Opportunities

* Government incentives * Growing target market * Proprietary technology advantage * End-users respond to new ideas * Government incentives

After a thorough analysis of our internal and external market we have come to a few conclusions: 1) Our company will clearly focus on our patented insole technology which is our key competitive advantage. 2) We need to create product brand awareness in our saturated target demographic market to differentiate ourselves from the competition. 3) Investing on brand awareness is key in order to receive government incentives.

Promotion Strategy

Key Promotional Tactics

* Online advertisement * Web 2.0 * Facebook * Twitter

* Send press releases to health/exercise magazines and websites

* During our first month, we will be giving out 20% discount online coupons

* Athlete sponsorship

* Personal selling: Sales people at gyms