SWOT Analysis

Every company should be able to identify their strengths, weaknesses, opportunities and threats so that they can fully understand every aspect of their brand. This is when a SWOT analysis takes place. “The marketer should conduct a SWOT analysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T)” (Marketing: An Introduction, Armstrong/ Kotler, Pg. 54).

For Lucky Vodka, the strengths are the unique ingredients we use to make our vodka. We use spelt to make our vodka instead of corn, wheat, or potatoes. The use of spelt eliminates the burn that people get when they drink other vodkas. We also will incorporate ginger and mint into the filtering process. It will give no flavor to the vodka but it will contribute and enhance the spelt, which comes on sweet, with notes of sugar and vanilla at the fore, before morphing into dry, slightly spicy mineral flavors.

The weakness of Lucky Vodka is the amount of knowledge we have for the vodka process. Nowadays there are more and more things that are continuing to involve and this includes vodka. Whether there is a machine invented or a new ingredient found to make the quality and taste of vodka better, we need to always be up to date and make sure we continuing to offer the best quality of vodka we can without altering the taste.

“The company should analyze its markets and marketing environment to find attractive opportunities and identify environmental threats” (Marketing: An Introduction, Armstrong/Kotler, Pg. 55). For opportunities and threats, we will continually observe consumer trends. It is through consumer trends that help us grow and expand. Currently, vodka sales have gone down because the trend right now is whiskey. It is observations like this where we can analyze our threats, which are other types of alcohol and the opportunities, which are to create a new campaign and reintroduce vodka.