SWOT Analysis of Extra chewing gum
The main strength of Extra chewing gum and its company is its innovativeness. Extra chewing gum and its company was able to create innovative products and add desirable taste in the chewing gum. Extra chewing gum was able to attract clients because of its flavor duration capacity wherein the long lasting taste of the chewing gum was maintained through the use of high intensity sweeteners. Moreover a strength of extra chewing gum is its numerous awards and recognition that prove their high quality of products.
Extra chewing gum main weakness is still lacking advertisements. The company that distributes Extra chewing gum doesn’t use many advertisements that can help it be known to more people from other regions. A weakness of Extra chewing gum is the limited area that has been reached by the company that created Extra chewing gum. The company has a small market; this makes it hard for the company to reach newer clients. It hampers the chance for the company to show that its products are better than products in other regions.
An opportunity for Extra chewing gum and the company that creates it is to find out more ways to give a distinctive look and features to their products. The company can continue to make sure that their products are uniquely packaged. The company can create attractive and trendy packages that will attract more market. By doing this the company will have competitive advantage over other firms. An opportunity for the Extra chewing gum and its parent company is to continue to make use of newer technologies that will provide the best service to clients. An opportunity for the Extra chewing gum is to continue to reach newer markets where it can offer its products. The company should consider reaching other regions and countries. Lastly an opportunity for Extra chewing gum and its company is to increase public knowledge about the company and the product it provides. This could be done through the use of internet and other media.
Globalization affected greatly almost all the industries of the world. Globalization is one of the threats to Extra chewing gum. Globalization can be a threat to the company because Globalization can produce alternative products with a better composition. A threat to Extra chewing gum is the competitors. The competitors will try everything they can to gain a better standing against Extra chewing gum and the company that sells it. The threat to the company includes the laws in the country they are operating in. The laws may be used against some components of their products. Another threat to the company is the tariffs and taxes that the company has in the region. The taxes and tariff constantly change and that may or may not give additional expenses for the company. Lastly a threat to Extra Chewing Gum and its company is the global financial crisis. The global financial crisis will reduce the client of Extra chewing gum and might force it to close some of its branches.
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