SWOT

Our greatest strength will be that we are a brand new product with a great image. As this can often be a disadvantage we believe with this type of product, using the right type of initial ad campaign can make a huge impact. When it comes to people buying fragrances, we believe that new is often better. We see many inferior products be highly successful with the right ad campaigns and plan on spending a great amount of our initial investment into this area of promotion.
Our greatest challenge will definitely be standing out in such a saturated market. There are an enormous amount of brands when it comes to fragrance and we will have to ensure our product will stand out from the rest. This is again why we plan to spend the majority of our initial investment into advertising.
As for opportunities, we hope to combine effective pricing and sponsorship to gain recognition quickly in the industry. We feel we can offer a superior product without the attached cost. We also want to sponsor events that society feels are important to show we are the type of company that will lead the way in taking social responsibility.
The biggest threat towards our success would be ineffective use of advertising causing us to not be able to recover enough of our initial investment. This would make it hard for us to continue our campaign for the following year with full momentum.