SWOT Analysis of Tango Brief: Leveraging Strengths and Seizing Opportunities
Tango, a well-established brand in the competitive drinks industry, possesses strengths such as brand recognition and a successful parent company. To maintain its market position and address weaknesses like declining interest, implementing innovative strategies like new flavor competitions could reignite consumer interest. It is crucial to monitor market trends and capitalize on opportunities to re-establish Tango as a leader in the industry.
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Strengths Strengths What advantages does your organization have? The brand is already well established, it isn't a new product that needs to put out into a new market. It has an image and is easily recognised already worldwide, so it would only be a matter of putting the product back out there or a slight re branding. The organisation that it comes from (Britvic) is a successful drinks supplier that makes other money making drinks such as J2O, so will have a larger budget that can easily fund the marketing. What do you do better than anyone else? I think this brand is good as it is still a well known which is especially difficult as the competition in the drinks industry. This is because it competes with other large brands such as Coca-Cola and is still a success. The brand has been going for a very long time, it started in 1950 so has done well to keep going during the ever changing market. What unique or lowest-cost resources can you draw upon that others can't? The brand is large so will have a substantial budget. Also because the drinks are ordered on such a large scale the business that makes them may be willing to offer other resources for a reduced cost. What do people in your market see as your strengths? Other competitors would see the brand as competition as it is very well established. Personally, I would say that I have a strength in public speaking and therefore would be good at pitching my ideas well. What factors mean that you "get the sale"? I think the ideas that would be well constructed and presented thoughtfully which would make it stand out amongst the other competitors. What is your organization's Unique Selling Proposition (USP)? The whole idea of tango is that it is a well known fizzy juice drink that sits amongst the most well known brands. Its unique as it is the market leader for this type of drink and is used in multiple establishments such as chain restaurants .
Weaknesses Weaknesses What could you improve? The main issue with this brand is that its starting to lose interest. I think the product needs to stay the same however, the awareness of it needs to improve greatly. I would suggest to create a competition on choosing a new flavour like the walkers crisps brand previously have as this will create a new buzz around the newer version of the product and would remind people of the original. What should you avoid? I think that we should avoid changing the brand completely. I think that people just need to become re-established with the brand to make it succeed again. This is important because the issue isn't in the actual product, however to prove this first I would conduct some consumer research. What are people in your market likely to see as weaknesses? The fact that the sales have dropped would draw other brands attention to the product and would perhaps encourage them to inject money into their own product to fill a gap in the market which could be an issue for the brand. Personally, I don t have much experience with in the marketing field which could be identified as a weakness. What factors lose you sales? If the new flavours decided were not enjoyable for the consumer they are very unlikely to buy the product again which would be a great issue because a lot of money would have to be put in to make the new products. Making this money back would depend on people repeat buying a product. Another factor could be if it was marketed wrong. The design and launch if the product mist be carefully considered to ensure that the product generates as many sales as possible. The other drinks industries should be carefully monitored to make sure that they aren't realising a product at the same time that would outshine the product.
Opportunities Opportunities What good opportunities can you spot? I think there is a great opportunity to re establish this product because for this particular drink there are very few big competitors so there is a small gap in the market. By using the competition idea, it would not only make the tango drinks more popular again, it would hopefully generate money from the new drinks as well. Another opportunity is that the product would be less expensive as it doesn t need to be greatly edited. The brand is well known so the packaging wouldn t need to be changed a great deal which would also reduce costs. What interesting trends are you aware of? I have taken inspiration from the trend of the walkers crisps competition. This would also create a social buzz if the poll was online which would mean that, especially the younger generation, which is the suggested target market for this product, more interested and engaged. This would boost the sales of the product.
Threats Threats What obstacles do you face? One main obstacle is the other competitors in the market. Particularly coke, there are brands with very large budgets that are already very popular that could cause risk to the other product, causing it not to sell. It would also be a potential threat if a competitor were to release a new product at the same time as this it could overshadow the new product. What are your competitors doing? Currently coke have a Christmas van which creates a lot of excitement and is greatly spoken about. This has potential to dominate the social media platforms so I would suggest to wait until the new year to release this product because it may get overlooked. Are quality standards or specifications for your job, products or services changing? There are discussions of new laws to increase the price of fizzy drinks. You also must display the sugar content. The UK government has published draft legislation for a tax on sugar-sweetened drinks, which is set to begin from April 2018. There will be two bands - one for soft drinks with more than 5g of sugar per 100ml and a higher one for drinks with more than 8g per 100ml. Do you have bad debt or cash-flow problems? The sales are bad for tango which is why the brief has been released. However there is no financial strain in the business yet as their revenue is 1.431 billion GBP Could any of your weaknesses seriously threaten your business? I think the weaknesses discussed are easily overcome and will not put the business at risk.
