Situation or SWOT Analysis

“The marketer should conduct a SWOT analysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T).” (Source: Marketing: An Introduction for Education Management Corporation, page 55) First of all, the strengths for The Bean Break would be the entertainment portion incorporated into the business along with the premium coffee, fresh, organic fruits for the smoothies, and the sandwiches along with some snacks for the business. Weaknesses for the coffee shop would be the pricing of the coffee, smoothies, and sandwiches/snacks, the pricing may be a little bit inexpensive and sometimes too pricey. Another weakness would be the stamp or punch cards that the shop will have. Customers may come in with many of those cards to get free coffee and/or a smoothie which will hurt the business for not getting any profit out of it. Opportunities at The Bean Break will be the entertainment because customers could have their art work shown in the coffee shop so all the customers can see and even purchase depending on the artist. It will also expand more listeners if a local band came in and played a little show for everyone, which does create opportunities for customers and the entertainment, it’ll kind of be a win-win situation. Lastly, threats for The Bean Break would be the competition with other coffee shops around town such as Starbucks, The Coffee Bean, Tropical Smoothie etc. The coffee shop business is pretty tough just because everyone goes to Starbucks mostly to grab their coffee and a pastry. The competition would hurt my business by a lot, which is why I have to find out more ways to upsell and have customers be loyal. I also want customers to know that the coffee and smoothies we will provide will be premium.