Situation or SWOT Analysis

SWOT is basically knowing what your business has to offer. You see what your challenges are and the benefits of your business. “Managing the marketing function begins with a complete analysis of the company’s situation. The marketer should conduct a SWOT analysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T).” (Marketing: An Introduction, Armstrong & Kotler, Chapter 2 page 55). Below I will do my own SWOT analysis my food truck Lunch in a Wrap.

Strenghts: In Vegas where the it is getting more popular to see more food trucks driving around, Lunch in a Wrap will stick out from the rest because of the fun and friendly look of our food truck. It will definitely will make you look when Lunch in a Wrap drives by you. Not only will our look turn heads but our healthy and delicious food will too. Mostly all food trucks will sell you fattening food and very unhealthy; Lunch in a Wrap is design to give you healthy fresh food all the time. No exceptions. 

Weaknesses: Like mentioned before there is a lot of food trucks driving around Las Vegas not a days and they seem to get there cliental by the food they serve and most of it is greasy and not so healthy food, but it seems to me that it has been working for them. The weakness with my food truck is that it is really healthy food that a lot of people might not like. There might be just a small niche of people that may be interested in eating healthy. “Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance.” (Marketing: An Introduction, Armstrong & Kotler Chapter 2 page 55). 

Opportunities: To biggest opportunity is that we are not a “brick” store we have wheels which means we can go anywhere we thing there is more business around. We are able to control our environments by simply just driving to places and selling our products. It is also a newer concept so people want to get that new and modern experience of a food truck. Also we plan to take advantage of all the free social networking that is around us which can help advertise through different groups of people.

Threats: “And threats are unfavorable external factors or trends that may present challenges to performance.” (Marketing: An Introduction, Armstrong & Kotler, Chapter 2 page 55). For Lunch in a Wrap one of the biggest threats will be other food trucks that are arising. People are more creative now and like to come up with new concepts and products. Food trucks are becoming to be very popular that it might be tougher for Lunch in a Wrap to stand out from the others.