SWOT

"The company should analyze its markets and marketing environment to find attractive opportunities and identify environmental threats."  Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing pg 56.   I am an artist, and when it comes to creating non-conventional methods for promotion, I have a background in marketing and body paint. When it comes to promotion, the body paint will be used as a way to premiere the drink and I can orchestrate and conduct those events myself.  I’ll get a little more into the body paint when I talk about promotion.  In the SWOT analysis the strength and weakness of the company are internal factors.  Internally a weakness of IV20 vodka is the lack of knowledge we possess when it comes to creating the vodka.  The distillation method is one in particular.  External factors that can affect the product are opportunities and threats.  When I say external forces, I am referring to things I cannot control.  "And threats are unfavorable external factors or trends that may present challenges to performance." Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing pg 55.  Environment, politics, market and consumer trends are just a few examples of external factors.  So what do you want first, the positive or the negative?  Let us start with the opportunities.  Vodka consumption remains strong, somewhat growing, but the demand for vodka has surpassed the want for other spirits that are distilled, like whiskey.  Let’s not forget, there really is not hemp vodka in the market, so the curiosity of the product may create a demand for IV20 vodka.  Political factors and the negative characteristics associated with hemp are the biggest threats.  Hemp comes from the same plant as marijuana, Cannabis Sativa and in the United States is considered a controlled substance.  Some retailers and consumers may assume IV20 is a controlled substance and associate it with drug use.  Although a few states produce hemp in the United States, the demand for hemp products is fairly low.