Swot Analysis Essay Example

In the business world, outsiders from other companies may jump in and help a company get back on its feet by introducing new concepts. In my Entrepreneurship, Marketing, and Finance class, I completed a project which implemented this concept. The project involved taking on the role of a magazine company “Pechaitis Marketing”. Classmates were paired up by the luck of the draw and were instructed to blindly pick an envelope which contained a magazine. Each group had to take on the role of representatives from Pechaitis Marketing. Their goal was to help the magazine by creating a SWOT analysis, customer analysis using market segmentation (demographics, geographics, psychographics and behavior components) and customer profile. My group selected

Being the group leader allowed me to keep the group on task and moving forward so each day was as productive as possible. We began with the SWOT analysis because it was the hardest and would essentially take the longest. Designed to help a business strive, a SWOT analysis organizes strengths, weaknesses, opportunities, and threats of the organization. One of the opportunities brainstormed was to expand the target market to men by creating a male edition after discovering that a reasonable percentage of readers are men. Another opportunity was to have more celebrity involvement because even though celebrities are pictured on the cover of each edition, they do not have their own article depicting facts about him or herself nor tips for readers. Strengths consisted of being well-known and containing real-life personal stories. Too many advertisements, and having a misleading title, were some weaknesses of ‘Good Housekeeping’. Lastly, some threats were the surrounding competition such as ‘Women’s Day’ and ‘Womens Health’. All of our ideas for the SWOT analysis were unique and personal as a result of spending one class day (2-hour span)

While this seems like a lot of work, the rubric we were given included the specific pieces and parts of each segment (demographics, psychographics, behavioral and geographics) which broke the segments down in a easy-to-understand manner. The customer analysis needed to be shown through words so we typed out each portion with word art and cut them out, glueing them in an organized fashion with demographics in one corner, while psychographics were neatly organized in another.

Lastly, after the SWOT analysis and customer analysis were completed, we began to think of ideas for the customer profile piece which was to be presented in an artistic manner. This was supposed to look like a poster that could potentially be hung in the office of the magazine company chosen. Being someone who is not that artistically inclined as were my group members, we took to the internet researching ideas for a magazine collage. We brainstormed a few ideas after the google search. The artistic piece was a large part of our grade so it needed to be visually appealing and encompassing who the target market was through