Swot Analysis and Evaluation of LaunchMe - Essay Example

One of the main strengths of the company is the possibility of having a wide range of innovative ideas to work on. Bringing innovation means bringing a new look to the company (Reid 2013). Innovation plays a key role in improving business productivity (Soard n.d.). All eight partners of the company have great communication, time management, and innovative skills that would help the firm to produce innovative ideas for the customers. All the eight partners have previous job experiences in which they worked in the administration, sales, and finance departments thus they have the ability to bring in innovative ideas for the customers.

Along with the rebranding, brand renaming, brand positioning, and many other services, the company also provides advertising and marketing services to its clients based on contemporary models and techniques which is definitely a strong point for the company. According to Kotler and Keller (2006), advertising refers to the non-personal presentation and promotion of ideas in such a way that they inspire the audience. The provision of advertising and marketing services to the customers is another strong point that will add to the value and profitability of the company. Another strong point for the company is its ability to deliver personalized care to clients. The company can use its small enterprise feature as an opportunity to provide personal attention to each customer which will consequently prove to be a strong point for the company.

Let us now discuss some of the main weaknesses related to the business of LaunchMe. Currently, the business does not have the required amount of funds to operate to its full potential in the market. Although there are many services in the services’ list of the company which the company aims to provide to the customers, the company does not have the number of funds required to provide all those services to the clients. Secondly, the company is also facing tough competition from Addison Whitney and Siegel and Gale, which are two established companies in the same field. LaunchMe is not having much business because customers prefer to use the services of well-established firms. Competition makes companies aware of their real potential (Business Competition 2013). Moreover, a lack of brand loyalty is also a weakness for the company. Since the company is new in this industry, the number of customers is also very less because of which brand loyalty is not developing properly.

As far as opportunities for the company are concerned, business expansion is the main opportunity for LaunchMe. Companies can successfully expand their business through proper analysis of the external business environment (Spaeder 2004). LaunchMe can expand its business to international markets based on its success in the local markets. Less number of companies in this field can prove to be a big opportunity for the company. LaunchMe can use this opportunity to increase it's business and profit. LaunchMe’s main target market should be the international market where it would get the chance to focus mainly on people wanting to start their own company in the UK or any other part of the world. LaunchMe can also increase its profit this way because a lot of rich individuals would be hoping and willing to invest in various countries in other to receive various needs from the country.

If we talk about threats, intense competition and lack of experience are the main threats for the company. Intense competition from strong competitors who have already established their businesses is one of the main threats for the company. The competitors of LaunchMe are well-experienced and professionals which can cut the business of this company to a great extent. Similarly, a lack of experienced employees will also be a threat for the company as experience is always needed for a company to grow in the market.

Summing it up, every company from any particular industry has some strong and weak points along with some opportunities and threats that they need to analyze properly in order to achieve success in today’s world of competition. In the case of LanuchMe, a proper analysis of the above-mentioned factors will definitely help the company in expanding its business in the field of a brand consultancy.