S: Our company, "All Skate" strengths include and strong client base, our company will cater to young adults. Our location is on one of the busiest streets in Las Vegas. Transportation will be easy for those who do not own cars because Charleston has a main bus route. Our beverages and food entrees will be affordable. Our environment will cater to a diverse audience so everyone is welcome.
W: Budget will be a huge weakness. Our business resides in a huge retail space. It will be a challenge to make use of that space effectively and everything from the bar, wooden floors, Dj booths, and etc. will all have to be built in from scratch. We will also need a huge staff in order to cover all areas of the building to make sure the majority of customers are catered to properly.
O: We will have the opportunity to reach out to upcoming music artists who would like to play samples of their songs. DJ's can also boost their image and be exposed to a small but growing community of young adults. We also can expand to more than just a night club and cater to a wider audience; such as families who want to host birthday parties.
T: "All Skate" will be in competition with similar businesses that provide ice/roller skating, and neighboring pubs/bars that stay open late night. Our customers may leave our establishment to continue their evening at another bar. It is importatnt that our bar is casual and organized. A wild bar scene will be a turn-off for most customers.
Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives. Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance. Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage. And threats are unfavorable external factors or trends that may present challenges to performance. pg 55
The company should analyze its markets and marketing environment to find attractive opportunities and identify environmental threats. It should analyze company strengths and weaknesses as well as current and possible marketing actions to determine which opportunities it can best pursue. pg 56
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