Monday, March 1, 2010

SWOT Analysis for Mike's Stonewear.

Strengths:


  • handmade

  • environmental friendly (renewable resources)

  • no color fading

  • can be custom made

  • naturally varied

  • handcrafted sometimes makes greater appeal than mass production: people get a sense of love put into the product.

  • wide range of audience?

  • can be worn anywhere

  • if people know that the money doesn't necessarily go to him, they see it as selfless and tend to buy it than something else

Weaknesses:

  • Rate of production

  • Nature of the stone (can be fragile)

  • Limited colors

  • Wear and tear (treatment of the product, gets smelly)

  • Limited sizes (can't go too small)

  • Possible breaking

  • Limited edition

  • Supply fluctuation

  • Post purchase

Opportunities:

  • Introducing new materials- would result in new pricing like wires, glass workings, acrylics, stone insets, and new kinds of chains to put them on.

  • New stonewear sets- rings, bracelets, anklets, etc.

  • New lines (sets with new materials added)

  • Beach Themes, Nature themes, Totem themes

  • Events and shows (like jewelry shows)

  • partnerships


Threats:

  • Big jewelry companies

  • Cheaper from over seas

  • Want something from that specific area

  • Activist not wanting the rock/hemp removed from its natural environment

  • Economic times

  • Other local artists

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