Situation or SWOT Analysis

A SWOT analysis is defined as, "An overall evaluation of the company’s strengths (S), weaknesses (W), opportunities (O), and threats (T)." Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. P. 55. The book goes on to explain each factor. "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." Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. P. 55. For my food truck, "Poultry in Motion" it's strengths would be the use of social media. It sets us apart from other food truck businesses as well as gives us an edge in the social media world. A weakness may be because we are a food truck the seating is outside, that may dissuade people from wanting to come, or if the weather becomes undesirable to be out in. Opportunities for the truck come with our use of social media. It presents us with opportunities to go to places where the truck is desired. As well because we are a food truck and mobile, we have the opportunity to venture to other areas and bring in more customers that can, in turn, want to bring the truck back. Threats would be other food trucks. If there are other food trucks that decide to adopt our method of using social media it can hurt our opportunities.