SWOT Analysis Essays

Analysis of SWOT (strengths, weaknesses, opportunities, and threats) is a framework used to determine the competitive position of an organization and to establish a strategic strategy. The study of SWOT measures internal and external variables as well as existing and future prospects. A SWOT review is a perfect way to guide company-strategy meetings. It is powerful to get everybody in the room to address the key strengths and weaknesses of the organization and then move from there to identify the possibilities and challenges, and finally to brainstorm ideas. Sometimes, before the session shifts, the SWOT study you imagine represents variables you were unaware of and would never have captured if not for the feedback of the party. For general business planning sessions or a particular category, such as marketing, development, or sales, an organization may use a SWOT. This way, before committing to it, you can see how the overall strategy built from the SWOT review would filter down to the segments below.

Strengths are things that are particularly great for your company or which differentiate you from your competitors. Consider the organization’s advantages over other companies. One of Kayman Beauty’s strength is the team which possessed strong teamwork that makes the brand does incredibly well today. Kayman Beauty’s team is small but the team is very close-knit as the team members are bind together by positive relationships and shared interests in skincare and beauty. The team works tirelessly day and night together to ensure that they deliver the best in terms of the quality of their skincare products and also customer service for the customers. For example, in conjunction with the Christmas seasons, the marketing team takes the initiative to design their official website with a Christmas theme besides incorporating a campaign, especially for this Christmas month. The campaign was named “ Kayman Gives Back “ and this campaign includes holiday promotion, exclusive gifts, free shipping, gifts for top spender of the year, and 20 lucky shoppers. Other than that, Kayman Beauty strength is on their signature look on all of their skincare products packaging which makes it easy for people to distinguish their products from other brands. Each one of the skincare products of Kayman Beauty is in black and gold-themed colour packaging. This gives the products a touch of exquisite look that would look good to be put on display at the dressing table. Kayman Beauty was one of the earliest local brands that produce skin care products with premium ingredients that undergone detailed research and development (R&D) in order to find the right formulation for each one of the products. Until now, that remains as the strength of the brand. Kayman Beauty is known for their deep knowledge and effort put in the process of making the products which give the customers a sense of confidence in what they are spending their money on. In 2014, Kayman Beauty started their business online. They did promotions to increase brand awareness through various social media platforms such as Twitter, Facebook, and Instagram. Their brands started growing solely through online engagements and now that Kayman Beauty has grown bigger, it already has a strong online presence on every online platform and this is one of the brand strengths that is beneficial for the brand since the number of online shoppers is increasing day by day.

Moving on to the weaknesses that brings disadvantage to the company in relative to others. Firstly, the company is not big enough to have sufficient production capacity and resources to do mass production. They have limited resources in terms of production capacity and also the premium ingredients used. Some of the ingredients are imported from Korea and hence, the prices of the products are slightly on the pricier side since they need to invest a lot in the process of making a product. Another disadvantage is a plenty amount of time is required to produce a product at a time. This is because of the comprehensive research and development (R&D) needed before finding the accurate formulation for a product that will give full benefits to the skin from the ingredients used besides avoiding irritation and sensitivity to the skin. However, it may react differently on different people so in some cases, some people may experience irritations or burns on their skin because of their skin allergy towards the ingredients used. The biggest weakness of Kayman Beauty is their products can only be purchased over the internet and not easily accessible in any drugstore. Some people prefer to buy products directly from the drugstore or offline due to urgency or convenience but Kayman Beauty is lacking in this area.

Opportunities apply to advantageous external conditions that could give a company a competitive advantage. Kayman Beauty’s biggest opportunity is to expand its brand globally. The awareness of the importance of having a good skincare routine has spread all over the world. Korea started the trend of the 10-Steps Korean Skincare Routine which claimed to make the skin stay youthful and glow from within. This 10-steps Korean skincare regimen has made its way across the world and a lot of people around the world have adapted this skincare routine to achieve the youthful glow of the skin. Kayman Beauty’s skincare products are suitable to be incorporated into everyone’s skincare routine as the brand has essential products such as cleanser, essence, serum, and sheet mask. Besides that, the sheet mask from Kayman Beauty was formulated in Korea because Korea is the country that is famous for the best sheet mask. The premium quality of all Kayman Beauty’s products makes it well-deserved to be promoted globally. Besides that, Kayman Beauty has the opportunity to increase more brand awareness by carrying out more dropship and agents program. This program’s main purpose is to help others that are new in the business industry to start a business and learn more on how to become a successful entrepreneur starting from scratch. At the same time, as there are more people joining this program to be an agent or dropship agent, it will increase brand exposure to the local public.

Threats apply to variables that have the potential to affect a business negatively. Nowadays, there are more other start-ups local skincare company that produces high-quality skincare product and people’s awareness of other local skincare brands are as good as Kayman Beauty. Due to this, people have more choices of brands to choose from depending on their preferences and Kayman Beauty may not always be the first choice for everyone. Increasing competition in the market can be considered a threat to the company. Another threat is the negative stereotype that some people still have in their mindset towards local skincare products. Some people are still not convinced about the quality of Kayman Beauty’s skincare products just because it is a local brand. Due to this, the number of potential customers will be less.