SWOT – Strengths, Weaknesses, Opportunities and Threats

After looking at why apps fail I focused on and created this SWOT analysis for the project to help me identify a USP or Unique Selling Point.  By breaking down what the project and app is looking to achieve provides a visual list of the strengths and weaknesses as well as external potential threats and opportunities.  It will create a good visual grounding for the project whilst in the discovery phase and before the design stage.

Strengths

What advantages will the app have?

  • Accurate stock levels and data
  • Fast response times
  • Connection with local retailers and their products so product can be purchased quicker or more conveniently
  • Making it quicker for users to purchase
  • Give small and medium sized retailers a web presence possibly introducing them to technology – bring retailers more sales

Weaknesses

What factors could cause you to not gain new users, or to lose users once they have used your app once?

  • Unengaging app design
  • Difficult app funtionality
  • Bad initial experience when using the app
  • Incorrect information related to retailer and stock levels

What needs to be focused on to gain a competitive edge?

  • Creation of a brand experience to create a bond and relationship with user
  • Good response times – efficient useful tool
  • Accurate data – stock and retailer
  • Need to gain a large number of retailers on the app to be able to offer the app as a useful tool

Opportunities

What potential avenues can take your product down in the future?

  •  Greater connection between an individual retailer and the user in and out of store experience
  • Loyalty schemes
  • Virtual reality and Augmented reality
  • Embrace new and emerging technologies and changing technologies – design and platforms should be effective, efficient and not dated
  • Make social – “I saw this (product) and thought of you“.  Social engagement and retail is forecast to grow – “Social engagement is increasing when it comes to sharing retail experiences” says Wang. “And with more platforms for social sharing. Consumers are beginning to look at sharing as a key part of the shopping experience.”  Source tech.co

 What further businesses could your product collaborate with in the future to increase reach?

  • Incorporate other suggested products and online retailers if items not available locally
  • Large promotional events when have a number of retailers on board to promote the benefits to gain more of the app to users and further potential retailers

Threats

What could undermine the success of the app?

  • Larger and high street stores already have an internet presence so users often look to these sites first.
  • Larger and high street stores may already have the trust of users – users know them.  This is a new app and has to offer an improved more efficient service and prove trustworthy and reliable.
  • The retailers themselves have to offer good service when users connect with them or may give a negative impression of the app itself and the service offered.

 

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