Using Strengths to Pursue Opportunities in Business - Assignment Example

By establishing a strong local presence as a start-up along with lots of connections in the industry, the company can easily penetrate the local market and could possibly weaken the macro-brewers industry. With highly differentiated products, the company can also easily penetrate into other markets via the Internet and other technologies to strengthen market presence. W-O Strategy. Use weaknesses to pursue opportunities. Even if it's still a new company, it can still invite people to drink because Denver has a great craft beer scene.

Additionally, there are still a few established breweries in the area. Using the Internet can create brand awareness to the public. However, they have to get first the local markets attention to promoting it, thus generate huge revenues. S-T Strategy. Use strengths to minimize threats. They must maintain their product quality in order to stand against any competitions. They can use their own resources to explore new products since they are already experts of the brewery. W-T Strategy. Overcoming weaknesses to protect against threats.

Being a newly established company, strengthening its marketing strategies can create a competitive advantage in the market. They must meet the standards of the government to avoid any regulatory issues. SMART GOALS (Richmond) Specific. Since women are more eclectic when it comes to taste, young men ages 21 to 30 will be the main target market to increase sales. Measurable. Old beer drinkers are still into their American Laggers way of drinking and older women are no longer engaged in drinking beer.

Therefore, it can be measurable that young men are more motivated to drink craft beers. Attainable. It can be achieved by promoting these craft beers through sponsorships during big events like concerts. Relevant. This is relevant because it can increase brand awareness to the local market and hopefully internationally. Time. This project will end after one year to evaluate how likely young men drink craft beers within a year.