SWOT Analysis of a commercial product (a new environmentally friendly Term Paper

SWOT Analysis of a commercial product (a new environmentally friendly car called Sun Top) - Term Paper Example The car is made with the ability to shift wheel engines so that the back of the car becomes smaller for efficient parking. It is therefore a space saving car. The cars can function as oxygen generators, recharging stations, and solar energy storage batteries. Opportunities The auto industry is under radical change. There are environmental concerns that require manufacturing of environmentally friendly automobiles; there are issues of increasing gas prices, and increasing economy fuel standards. These are push factors to the manufacturers to produce efficient cars that fit the consumers’ needs. There is increasing demand from the public for energy efficient, money saving, environmentally friendly, reliable and practical cars (X3). Weaknesses Electric cars reception in the market is still weak irrespective of the current market demand. Some people still consider it slow and not fit for the market. Some people are still not comfortable with the size of the cars which accommodates only two people (X3). The car still has a very low speed. The current highest speed is 130 mph, but there are other Sun Top types with 70 mph. This is not acceptable in the current market where so many automobiles have higher speeds of even 200km/h and above. The only advantage it has is its unique combination of money saving ability, efficiency, reliability and eco-friendliness. It cannot be used by families that need bigger cars to accommodate bigger numbers. Another problem is that the market is still full of other normal cars and it is not the only eco-friendly car in the market. The brand is weaker compared to other companies, such as Audi, Volkswagen, Chevrolet, Lexus, Hyundai, Mitsubishi, Subaru, Ford, Toyota, and Nissan, all with different types of eco-friendly cars entering the same market targeted by Sun Top’s company (X2). These companies have already established market. Threats The market has increasing demand for eco-friendly cars, but there are different types being introduced in the market. There are eco-friendly cars powered by electric batteries, hydrogen, natural gas, and biodiesel that emit less polluting gases. These are cars that will compete for the same market that Sun Top’s company is looking forward to exploiting. There is also a lot of competition from the normal cars with high speed, still common in the market, and still accepted in the market. There are various companies with eco-friendly cars, that is, companies such as Audi, Volkswagen, Chevrolet, Lexus, Hyundai, Mitsubishi, Subaru, Ford, Toyota, Nissan, and many more (X2). The same companies still offer competition from the normal cars they develop and their innovative and creative abilities. Competition is not from the structure, the size and the abilities of the cars, the companies are aware of the same market being competed for and so are a source of threat because of their abilities in different areas of management. Different types of cars are also entering the market. These could be preferred compared to the current eco-friendly car being introduced into the market. This is why innovation by other companies is a very big threat. An example is the existence of driverless cars introduced by Google. Uncertainty of consumer behavior is another threat. They may choose the driverless or any newly developed cars and leave the current eco-friendly cars in the market. Marketing Strategy Target Market Sun Top is a new product