Market Entry Strategy Paper Final
SWOT Analysis
After much in-depth research of NeverWet, the following table of the company’s strengths, weaknesses, opportunities and threats has been created:
STRENGTHS
- Multi-purpose product
- Anti-corrosion
- Self-cleaning
- Industrial uses
WEAKNESSES
- Primarily a water/liquid repellent
- Little to no rainfall in Saudi Arabia
OPPORTUNITIES
- NeverWet could be useful for workers in the oil industry as it could keep their shoes and clothes clean, and help them last longer
- NeverWet could be used as a rust and corrosion repellent
THREATS
- NeverWet’s name could be misleading to consumers as it does not suggest the product’s other uses
Strengths
NeverWet is a multi-purpose product that has a variety of uses including anti-corrosion, self-cleaning, and a many industrial uses. Since NeverWet is such a versatile product that can be used in many different ways, it has the potential to be quite successful in the Saudi market.
Weaknesses
NeverWet is primarily a water repellent, and annual rainfall in Saudi Arabia is very low, so this may contribute to, and be the cause of, low sales in the market.
Opportunities
As the oil industry is booming in Saudi Arabia, NeverWet would prove to be very useful for workers who wish to keep their shoes looking new. Further, it can be used as a rust and corrosion repellent
Threats
As the name suggests, NeverWet is a liquid repellent, which may be misleading to consumers as they may think that it is only used as a water repellent.
Market Analysis
Target Consumer
The ideal consumer of NeverWet is general labourers. According to the word bank, Saudi Arabia last measured a labour force of 9,558,815 people in 2010. This is an extremely large consumer group. Since Saudi Arabia has a rather severe shortage of water resources, water is very expensive there. NeverWet is therefore ideal for Saudi Arabians because it repels sweat and can ultimately reduce the cost of laundry. It is a very appropriate product for Saudi Arabia for
After much in-depth research of NeverWet, the following table of the company’s strengths, weaknesses, opportunities and threats has been created:
STRENGTHS
- Multi-purpose product
- Anti-corrosion
- Self-cleaning
- Industrial uses
WEAKNESSES
- Primarily a water/liquid repellent
- Little to no rainfall in Saudi Arabia
OPPORTUNITIES
- NeverWet could be useful for workers in the oil industry as it could keep their shoes and clothes clean, and help them last longer
- NeverWet could be used as a rust and corrosion repellent
THREATS
- NeverWet’s name could be misleading to consumers as it does not suggest the product’s other uses
Strengths
NeverWet is a multi-purpose product that has a variety of uses including anti-corrosion, self-cleaning, and a many industrial uses. Since NeverWet is such a versatile product that can be used in many different ways, it has the potential to be quite successful in the Saudi market.
Weaknesses
NeverWet is primarily a water repellent, and annual rainfall in Saudi Arabia is very low, so this may contribute to, and be the cause of, low sales in the market.
Opportunities
As the oil industry is booming in Saudi Arabia, NeverWet would prove to be very useful for workers who wish to keep their shoes looking new. Further, it can be used as a rust and corrosion repellent
Threats
As the name suggests, NeverWet is a liquid repellent, which may be misleading to consumers as they may think that it is only used as a water repellent.
Market Analysis
Target Consumer
The ideal consumer of NeverWet is general labourers. According to the word bank, Saudi Arabia last measured a labour force of 9,558,815 people in 2010. This is an extremely large consumer group. Since Saudi Arabia has a rather severe shortage of water resources, water is very expensive there. NeverWet is therefore ideal for Saudi Arabians because it repels sweat and can ultimately reduce the cost of laundry. It is a very appropriate product for Saudi Arabia for
Cited: Consumer Lifestyles in Saudi Arabia (2012). Euromonitor International (E I). Web. 25th Mar 2014. <http://www.euromonitor.com/consumer-lifestyles-in-saudi-arabia/report> Feinberg, Ashley UltraEverDry. Company Website. 2011. Web. 25th Mar 2014 http://www.ultraeverdrystore.com/ Liquipel Watersafe Technology Trading Economics. Labor force - total in Saudi Arabia. 2013. Web. 25th Mar 2014. <http://www.tradingeconomics.com/saudi-arabia/labor-force-total-wb-data.html> World Bank Data