There are many different factors will influence the business growing or when they develop a new product. To achieve the more effective performance of business, the marketer has to analysis each aspect from inside and outside of market which will have the direct or indirect power on the business and their product. Therefore, to use SWOT analysis can help marketers to find and increase the strength of business, minimize the weakness of a business, and identify the opportunities ,the treats from the outside of business. (Elliott, Rundle-Thiele & Waller 2010). The following essay will analyze the SWOT of CHANEL No5. Strength of CHANEL No.5
Strength is the advantage of a business that can bring more benefits to it and can also help it access the objectives. There are many strength of the very popular perfume "Chanel No. 5". The most obvious strengths of Chanel No. 5 is about the history of this product, that is, the Chanel No. 5 has given customer the image of classic and legend. And this kind of special impression of Chanel No.5 to the customer has become the very special character of this perfume which has the powerful attractiveness on customer. In additional, this kind of feature can make Chanel No. 5 always be popularly if the Chanel Company has a good promotion strategy based on it. The second strength of Chanel No .5 is because of the amazing design and Hollywood endorsements (marketingmagazine.co.uk, 2012). Andy Knowles, chairman from JKR Company state that the great design is one of the reasons that Chanel No. 5 can still so successful in the current market (marketingmagazine.co.uk, 2012). The Hollywood endorsements of Chanel is because the Chanel No. 5 has some very famous followers such as Marilyn Monroe and Nicole Kidman, since they are the icon of successful and beautiful women, so this kind of famous star can be the best advertising of the fragrance. Furthermore, Chanel No. 5 has been selling to the different county form the world in the earlier years since it produced which is a strength that can make the Chanel No .5 always be known by the customer form different country. Moreover, the Chanel No. 5 are invented in Paris of France where is the Fashion place in the world, thus the Chanel No. 5 is also stand for the very Fashion product.
Weakness of Chanel No. 5
There are no prefect products in the world, even the very successful Chanel No. 5. Adams (2005) stated that the weakness of organization or product is exist in the internal of business, in other word, the weakness can be controlled by the business, but why this weakness are exist is because the company have not found these weakness or they have not to deal with it yet. To identify the weakness and understand how to solve it can decrease the loss and avoid the failure of the organization. One of the weakness of Chanel No. 5 is that customer cannot access the online shop to buy it from their home page. However, the other brand of Perfume such as Gucci can linked to online by the home page which are more convenient for the customer to buy the product online to compare with Chanel. And the other weakness of Chanel No. 5 is the new advertising cannot satisfied by the most part of their customer, even make the customer confused and give them a bad impression of Chanel No. 5. Opportunities of Chanel No. 5
To compare with the Strength and Weakness, the Opportunities are the external factors of the business or their product. For example, the opportunities of Chanel No. 5 can be environment, the changes of political and the growing of economic. Most of time the opportunities are used by the business and cab turn it into the strength (BHP Information Solutions Ltd., 2008). Currently, The key opportunities of the Chanel No. 5 is that they have a great potential market around the world, especially in the Asia, such as China and Korean, one of the reason is that the increasing living standard of the people in these...
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