SWOT ANALYSIS OF RESIN ART BUSINESS

STRENGTHS

What do you do well?

1. I make exclusive resin products which is currently done by only few people all over India.

2. My products are cost effective.

3. Quality Assurance.

4. Personalization and customization.

What unique resources can you draw on?

1. Best quality Resin

2. Raw materials procured from all over India

3. Exclusive Ideas

What do others see as your strengths?

1. Complete Quality Assurance

2. Cost effective products

3. Niche resin products

4. Understanding customers’ needs

WEAKNESSES

What could you improve?

1. Time management

2. Faster procurement of raw materials

3. Practice more

4. Market visibility.

Where do you have fewer resources than others?

1.Marketing

2.Data Base

3.Less Samples

What are others likely to see as weaknesses?

1. Time management

2. Visibility
OPPORTUNITIES

What opportunities are open to you?

1. Advance level of Resin training courses

2. Updating myself on courses

3. Instagram marketing

What trends could you take advantage of?

1. Focussing on Corporate gifting

2. Conducting Resin workshops

3. Instagram and Facebook platforms

How can you turn your strengths into opportunities?

1.Publicise my customer reviews

2. Highlight my price range

3. Reach out to more people through social platform through personal videos

THREATS

What threats could harm you?

1. Competition in the market

2. Faster service (Time Factor)

3. Less visibility

What is your competition doing?

1.Higher public visibility

2.Better advertisement on social media

3.Faster delivery

What threats do your weaknesses expose you to?

1. Less clientele

2. Lesser visibility on social media

3. Lower growth