For today’s task, we have to conduct a SWOT analysis for our pitch/idea. Conducting this SWOT analysis will allow me to understand any strengths, potential goals and obstacles. My pitch is a children’s smartwatch that monitors for any irregularities of the rhythm of the heart.
- My vision is strong about this product.
- It is an eco-friendly product.
- It helps impoverished children.
- It is cheap and lightweight.
- Wide possibility of uses.
- Simplistic modern design.
- Unique and innovative features.
- Global distribution.
- Provides medical monitoring.
- Some developing countries may not even have access to health services.
- Some developing countries don’t have access to electricity to charge devices.
- Unawareness of the capabilities of the smartwatch.
- This can open an untapped market (children’s wearables).
- Market expansion.
- This has the potential to save many lives.
- Build a loyal customer base to create a preference for customers faced with similar problems.
- Competition is dominated by a select few companies.
- Possible loss of market share growth potential when competitors introduce new products.
- Cheap knock-off brands can potentially de-value prices.