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SWOT AnalysisThe following SW;T analysis captures key strengths and weaknesseswithin the company and describe the threats facing SteelWoods.

Strengths

Strong relationships with local artists.

%Acellent employees who are highly trained to oer outstandingcustomer service.

4reat retail space that provides large amounts of walk-throughtra#c.

)igh->uality product oerings.

Weaknesses SteelWoods lacks visibility.

& limited marketing budget to develop company awareness.

The struggle to get new creative artwork. &bility to keep up with demand for the products.

Opportunities & growing market with a signi"cant percentage of the target market

still not aware of SteelWoods?s product oerings.

The ability to increase the sales volume while maintaining the sameoverhead costs.

The ability to attract new and eAciting artists as SteelWoodsbecomes better known.

Threats & shortage of art work produced.

& slump in the economy which will decrease people?s discretionary

income.

& larger more established gallery starting to sell more of SteelWoods?s

genre of art work.

ompetitionSteelWoods has several competitors

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Other retailers in the mall!3eople that are gift shopping at SteelWoods are likely to visit otherretailers in the mall. While the other retailers are not direct competitors inthe sense that they are selling the same products their products will actas a substitute product.

Art galleries!These retailers speci"cally sell dierent types of artwork. While somemight specialie or carry a theme of industrial art none sell bicyclespeci"c art. 3eople that are looking for a wide range of art work are morelikely to go to these retailers.

"icycle retailers!Some bicycle shops carry gifts for cycling enthusiasts and this giftsection may be art work based on bicycles. Some of SteelWoods?s artistsalso sell to bicycle shops so they might have identical pieces. The bicycleretailers do not however have the same selection as SteelWoods. &sSteelWoods grows they will be able to leverage their vendors to make

SteelWoods the eAclusive dealer for their bicycle art.

#roduct O$eringSteelWoods will sell artwork manufactured from recycled bicycle parts.The art work will be made by approAimately three local artists one ofwhich is Steve?s wife Shoodnt. Some of the featured products are< wallclocks picture frames chairs tables mobiles wind chimes book endskitchen utensil holders and many other products.

%eys to SuccessSteelWoods?s keys to success are the following variablesue productdisplays will catch the eyes of the walk through tra#c.ustomer Service!;bsessive customer attention is the mantra.SteelWoods?s philosophy is whatever is needed to satisfy the customer willbe done. While this might hurt short-term pro"ts it will ensure long-termpro"tability.

Marketing +esearchCuring the initial phase of the business plan development several focusgroups were held to gain insight into the target market. These focusgroups provided helpful insight into the decisions and decision makingprocesses of prospective customers.&n additional source of market research that is dynamic is a feedbackmechanism based on a suggestion card system. The suggestion cardsystem has several statements that customers are asked to rate in termsof a given scale. There are also several open ended >uestions that allow

the customer to freely oer constructive criticism or praise. SteelWoodswill work hard to implement reasonable suggestions in order to improve

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their service oerings as well as show their commitment to the customerthat their suggestions are valued.

)inancialsThis section will oer a "nancial overview of SteelWoods as it relates tothe marketing activities. SteelWoods will address break-even analysissales forecasts eApenses forecasts and how those link to the marketing

strategy.

"reak,even AnalysisThe $reak-%ven &nalysis indicates *02192 will be needed in monthlyrevenue to reach the break-even point.

"reak,even Analysis

Monthly Revenue $reak-even *:62/

&ssumptionsuidate inventory to cover liabilities.