Video 6

From Widgepedia

Video 6: The SWOT analysis

Video 6: SWOT analysis discussion (p. 28)

INTERN 1: OK, the first product we need to analyze is The Guilt Jar. Let’s see…according to the product proposal, its purpose is to “help people stay healthy by cutting down on cookies.” How does it do that? Oh, I see, it you set your cookie limit for the day, and when you get close to that number it starts to give you messages to make you feel guilty. Funny! OK, let’s start the SWOT analysis with the internal factors: the strengths and the weaknesses. Any thoughts?

INTERN 2: I agree that it’s funny. And it’s really easy to understand. Those are strengths.

INTERN 3: Right. And selling it would be easy, because we could make a funny commercial for it. So... easy to advertise. That’s another strength.

INTERN 2: But let’s be honest… it’s probably not very effective for dieting. Could that be a weakness?

INTERN 1: Yes, I think so. Also, no one will pay a high price for something like this, so it would need to be cheaply made. That means it would break easily – and that’s a big weakness.

INTERN 3: True. And, also dieting is quite a serious business for most people. This just doesn’t feel… well, serious, you know? We wrote down “funny” as a strength, but maybe that’s a weakness too?

INTERN 1: Absolutely. OK, great! These are all really good points. Now, how about the external factors? Can you think of some threats and opportunities?

INTERN 3: Well, people these days really care about being healthy, so it’s a good time to launch this kind of device. That’s an opportunity, right?

INTERN 2: Yes. Also, these kinds of “gag” gifts have been really popular recently at office and club Christmas parties. That’s another opportunity.

INTERN 3: On the other hand, I read an article last week about how people are getting tired of all these talking devices in their home. That could be a threat, if people decide that enough is enough.

INTERN 2: That’s a good point. And actually, I’ve seen a lot of phone apps that do the same kind of thing. So there’s a lot of competition, too. OK, let’s write both of those down as threats.

INTERN 3: And don’t forget another big threat, which is that this idea is easy to copy by other companies. Even if this is successful, we could still lose in the end!

INTERN 1: OK, good job, guys. I think we’ve done a good analysis there. Let’s move to the next product.

List of videos

Stage 1

Video 1: Welcome to Widgets (p. 5)

Video 2: Water cooler chat - 3 examples (p. 8)

Video 3: Meet the founders (p. 9)

Stage 2

Video 4: Jessica's R&D project intro (p. 15)

Video 5: Elevator pitch example (p. 22)

Stage 3

Video 6: SWOT analysis (p. 28)

Video 7: Titus' product selection intro (p. 29)

Video 8: Poster presentation example (p. 35)

Stage 4

Video 9: Titus' market research intro (p. 42)

Video 10: Focus group (p. 45)

Stage 5

Video 11: Miki's marketing project intro (p. 58)

Video 12: Ad campaign presentation (p. 62)

Stage 6

Video 13: Final message from the founders (p. 73)

Video 14: Job interview (p. 80)