Sparks Enterprise SWOT Analysis and Goal Setting
Nutusha Burns
South College
EDU 6520
06/04/2023
Sparks Enterprise SWOT Analysis and Goal Setting
Deliverable #1
Overview of the Organization
Sparks Cosmetics is a leading Cosmetic producer that produces high-end cosmetics. We take part in producing skincare products, and other beauty products are plentiful. The company operates online and offline in various cities. Sparks Cosmetics has become a major cosmetics company by developing innovative, cruelty-free, eco-friendly products.
Swot Analysis
| Strengths | Weaknesses |
| Ø customer loyalty and brand recognition.
Ø innovative, high-quality products. Ø Multi-channel distribution in stores and online. Ø cruelty-free and eco-friendly. Ø Effective marketing and influencer partnerships.
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Ø Limited international presence and market penetration.
Ø Need for more consumer involvement and personalization. Ø Challenges with Keeping up with beauty trends. Ø Dealing with cosmetic and skincare products alone.
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| Opportunities | Threats |
| Ø global and internet expansion.
Ø Natural beauty products are in demand. Ø Launching niche product lines. Ø Collaboration with social media and influencers. Ø personalized customer experiences using developing technology.
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Ø Consumer price sensitivity in a highly competitive market.
Ø Competition from big beauty brands and small cosmetics brands. Ø Consumers prefer natural and organic brands. Ø Customer complaints and social media backlash.
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List of the questions used to develop the analysis and explanation of why these questions were selected
- What makes Sparks Cosmetics stand out?These questions revealed the company’s internal advantages and selling strengths.
- What are Sparks Cosmetics’ weaknesses?These questions identified organizational flaws and areas for growth.
- What are the latest beauty, consumer, and technical trends? These questions examined external elements that enable growth, innovation, and market adaptability.
- What dangers, competition, and external factors could affect Sparks Cosmetics?These questions addressed the company’s external dangers and issues.
Analysis of the SWOT
Patterns that Emerge Through the SWOT: SWOT revealed multiple patterns. Opportunities like growing into overseas markets and introducing clean and natural beauty goods fit the company’s brand name and cruelty-free procedures. Limited worldwide presence and poor customer involvement can impair the company’s capacity to capitalize on opportunities or manage risks.
Alignment of internal and external factors: Internal and external forces match. Strengths can be used to grasp opportunities, while weaknesses may make the organization more vulnerable to threats.
Contradicting Data in the SWOT: The SWOT analysis showed no substantial contradictions. However, the changing beauty business, consumer tastes, and beauty trends may affect the company’s strategy and aim.
Balance Between strengths/weaknesses and opportunities/threats: The company’s strengths and opportunities outweigh its weaknesses and threats. For continued progress, vulnerabilities and challenges must be addressed.
Deliverable #2
Goals and Timeline Analysis
Goal 1: To Increase Product Diversification: We would like to launch new product lines targeting certain customer niches to increase product diversification. The purpose is to detect new trends and customer wants, conduct market research, and produce novel beauty products. Expanding the product line will attract more clients.
Goal 2: To Develop International Market Penetration: We would love to broaden its market reach to address its low international presence. This can be possible through Identifying important target markets, partnering with local distributors or merchants, and creating specialized marketing campaigns. This will boost brand visibility and attract new customers worldwide.
Goal 3: ToEnhance Digital and Social Media Presence:Sparks Cosmetics would want to boost its digital marketing to capitalize on influencer collaborations and social media marketing. Find relevant influencers, cultivate alliances, and create engaging social media content. Brand visibility, new audiences, and online sales will increase.
Goal 4: ToImprove Customer Engagement and Personalization: Sparks Cosmetics aims at promoting client engagement by improving customer experience. The goals are personalized marketing efforts, loyalty programs, and better online and offline customer interactions. This will result in a rise in Customer satisfaction and loyalty.
Timeline with projected steps needed to complete each goal
Goal 1: To Increase Product Diversification
- Research market trends and client needs (Months 1-2).
- Research new product lines and create a product plan (Months 3–4).
- Product development and testing (Months 5-6).
- New product line packaging and branding (Month 7-8)
Goal 2: To Develop International Market Penetration
- In Months 1 and 2, we will conduct research on customer preferences and target audiences.
- We will build connections with local distributors or merchants in targeted markets between the third and fourth months.
- In months 5 and 6, we will then Create market-specific marketing plans
- In months 7 and 8, we will focus on Marketing our brand.
Goal 3: To Enhance Digital and Social Media Presence
- Market and competitor research (Months 1-2).
- Define target consumer segments and essential digital marketing platforms (Months 3-4).
- Create an engaging and relevant content marketing plan (Months 5-6).
- Make a social media calendar and post regularly (Months 7-8).
- Analyze and improve digital marketing in the ninth month.
Goal 4: To Improve Customer Engagement and Personalization
- Months 1-2: Segment customers and identify relevant segments.
- Create a client data management system between months 3 and 4
- Carry out customer segmentation between Months 5 and 6
- Launch multi-channel tailored marketing efforts between the seventh and eighth month
- Monitor and adjust campaign performance in the ninth month.
