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Aruna Mar Task 01

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SWOT
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  Task 01 Introduction “Tranquility” Chocolate Manufacturers:   “Tranquility” is a Chocolate Manufacturi ng company. This organization was formed in the year 2000 in Sri Lanka. Main factory is fixed in the middle of Colombo and they possess a capable distribution channel. Another two factories are situated out of Colombo city and altogether more than 400 workers are working under the managem ent of “Tranquility” The Company manufactures and market a wide range of products in various markets. The company is planning to launch a product line consisting of different sizes of chocolate slab, chocolate coated biscuits, wafers, candy and chocolate balls encouraging eating low sugar chocolate and preventing diabetes. The company marketing management needs to plan this before starting the production 1.1Differentiate the concepts of need, want and demand and identify their implications of them to the “Tranquility”  organization. Need, Want, and Demand  Needs, wants and demands are a section of basic selling principles. According to the marketing they have a very complex meaning and huge differentiation factor. In fact, A  product can be distinguished along the basis of whether it satisfies a client asks, wants or needs. Each of them is discussed in detail in this clause Needs -Human needs are the basic demands and include food, clothing , safety, belonging, and esteem. These needs are not created by society or by marketers. They exist in the very texture of human biology and the human condition. Without these humans cannot exist. An extended  part of needs today has become an education and health maintenance. Broadly, the products which flow under the needs category of products do not require a push. Alternatively Example of    needs : Chocolate, wafers, candy and chocolate balls. Wants    –    Wants   are desires for specific satisfiers of needs. Although people’s needs are few, their wants are many. They are continually shaped and reshaped by social forces and institutions, including churches, schools, families and business corporations. Example of Wants: old people need a beneficial health food. They need to eat healthy food and low sugar product, wafers, candy and chocolate balls.    Demand  -  Demand  are waiting for specific products that are backed by an ability and willingness to buy them. Companies must measure not only how many people want their  product but, more importantly, how many would actually be willing and able to buy it. Example of Demand : most diabetic patients like to eat sugar products, but they can't eat  because of the illness they can eat low carbohydrate products. Philip Kotler (Marketing Management, 9th Edition) 1 .2 SWOT analysis for “Tranquility”   SWOT analysis (alternatively SWOT Matrix) is a structured plan method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. A SWOT analysis can be carried out for a product, place, industry or person. It calls for defining the objective of the business venture or project and naming the inner and external elements that are favorable and unfavorable to achieving that aim. Defining the objective should be executed after the SWOT analysis has been done. This would allow achievable goals or objectives to be set for the system. SWOT Analysis Strength    15 years experience in industry    Main factory is situated in the heart of Colombo      Different sizes and types of  products    Excellent quality of the chocolates    Good availability in parts of Sri Lanka Weakness    less Experian’s staff   for new product    Fewer ingredients.    Presence mainly in Colombo Opportunity    Get highly recommended product    Increase  sale age between 50-80 years.      Increase its presence in other parts of country    Increase its quality    Concentrate on branding and advertising    Encouraged as a Corporate Social Responsibility for the society .  Threats    Competition with some major chocolate manufacturers      ingredient can be imported  
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