Situation or SWOT Analysis

The clear strengths of our company are its unique concept, wide market, easily accessible market, and its fairly low competition. Though there are a few large name brand barbecue sauces, they do not offer the flavor of ours. Our weaknesses are that we are brand new. As stated in the book "Despite the amount of time and money spent on developing and testing new products, a large proportion of new product introductions fail. (Page 199)", meaning our biggest weakness is our lack of exposure to the public. Our opportunities lie in the grocery store development. We have the potential to cover barbecue sauces, wing sauces, hot sauces, most other condiments, organic, as well as our own frozen-premade chicken. Only minor adjustments would be made to make all of these new products. "An innovation is a product perceived as new by a potential adopter. (Page 200)". These new products are opportunities to grow once we develop our initial buyers. Obvious threats include our direct and indirect competitors (i.e. A1 Steak Sauce). Another could be ourselves if we aren't careful. As the book says, "A relative product failure results when the product returns a profit but fails to achieve sales, profit, or market share goals. (Page 199)".