Situtation or SWOT Analysis

A business can stay up and running depending on its SWOT analysis. This shows the good and bad things to a business and the problems that is from others just like it. "The marketer should conduct a SWOT analysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T)." (Marketing: An Introduction for Education Management 10th Edition, Armstrong Kotler, page 55). My food truck business, just like any other food truck business or any kind of business at the matter, has a few strengths, weaknesses, opportunities, and threats with some being exactly the same and others being different. "Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives. Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance." (Marketing: An Introduction for Education Management 10th Edition, Armstrong Kotler, page 55). The strengths of Meals on a Stick food truck are that we serve quick fresh food at low prices, a mobile business that goes from one location to the next, and have food that is easy for on the go people. The weaknesses to my food truck business is some customers might not like the idea and want some place that has plates and bigger portions, an order gets messed up which has to be made again slowing the speed of the service, and maybe another food truck might have a similar with better prices or food. "Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage. And threats are unfavorable external factors or trends that may present challenges to performance." (Marketing: An Introduction for Education Management 10th Edition, Armstrong Kotler, page 55). The opportunities that Meals on a Stick food truck will have is moving around everyday getting new customers, being able to change the menu and design of the truck, and having a website showing where we will be and any specials that we maybe having at the moment. There are a few threats to my food truck business which are any other food truck business in the same area, customers that are already loyal to other food trucks around, and keeping a good service that is the same or better with the other food trucks around the same place.