IXD302 – Pitch SWOT Analysis

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.

SWOT Analysis

 

StrengthsĀ 

  • 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.

 

WeaknessesĀ 

  • 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.

 

Opportunities

  • 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.

 

Threats

  • 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.

 

 

 

 

 

 

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