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Introduction In 2003, Gary Clegg decided to start “a little project where he could make some money,” (Deighton & Kornfeld, 2010, p. 1) and began selling a wearable blanket with sleeves called “the Slanket”. Utilizing television and print marketing channels such as QVC, an at-home shopping network, and SkyMall, a retail catalog exclusive to airlines, the Slanket became a success with $5 million in sales by its …show more content…
Their weaknesses are inter-related and limiting to their future growth by only marketing to a small percentage of the population with a limited amount of product offerings. The external forces are more volatile than the internal strengths and weaknesses. There is a significant amount of uncertainty with the future demand for this product. Offering different styles and incorporating new products in their product line might assistant with the brand being more relevant. Furthermore, in my opinion, there seems to be a disparity as to who the company should be marketing to. Unlike the Snuggie, which was marketed more as a fun, novelty to the masses, the Slanket, is a quality product which should be marketed to the demographic which will actually use it. If they can succeed in doing this, there is a wealth of opportunity. However, several threats exist in the marketplace. Because the wearable product is not patentable, there is high potential for new competitors to come into the market as well as existing competitors to copy their products.
Realistic Options Options | Risk Level | Concerns | Do nothing; stay the course with current marketing strategy. | High | This option does not require the company to change any of their strategies. It represents a high risk and has the potential to provide low-modest rate of