Contemporary Ti Designs 2.2 SWOT Analysis The following SWoT analysis captures the key strengths and weaknesses within the company and describes the opportunities and threats facing Contemporary Ti Design 2.2.1 Strengths Unique designs and construction methods Strong relationships with suppliers as well as galleries. The flexibility to provide custom pieces A comprehensive distribution network from a robust website and a network of galleries 2.2.2 Weaknesses A large portion of the target market that is unaware of Contemporary Ti Design's products Limited time and budget to market the company to the segmented target population The struggle to constantly create new designs. The possible inability to meet demand due to the small size of the company 2.2.3 Opportunities A growing market that, to a large degree, is unaware of Contemporary Ti Design Th ibility to grow the size of the company so Steve is spending his time creating and allowing others to deal with the administrative details The injection of fresh, creative designs in a somewhat stagnant industry 2.2.4 Threats a decrease of availability of raw materials due to demand from other industries Artistic copycats that enter the market and mimic steve's designs a slowdown of the economy that will have a reduction on individual's discretionary Income 2.3 Competition and Buying Patterns As previously stated the jewelry industry is composed of thousand upon thousands of people Some work and distribute locally, others have national distribution systems set up. Some artists will design products for larger companies to manufacture others will design and make the pieces themselves. This plan will have an abridged competition section. This is because of the very large and distributed nature of artisan jewelry design the market is entirely too dispersed to have a complete catalog of the competition Competition takes the following forms Artists creating designs that are manufactured on a large scale and distributed nationally The artists might be famous enough to have their own one-name studio that creates designs and the product is made and sold under the larger companies name. If the artist Page 52.2 SWOT Analysis The following SWOT analysis captures the key strengths and weaknesses within the company, and describes the opportunities and threats facing Contemporary Ti Design. 2.2.1 Strengths • Unique designs and construction methods. • Strong relationships with suppliers as well as galleries. • The flexibility to provide custom pieces. • A comprehensive distribution network from a robust website and a network of galleries. 2.2.2 Weaknesses • A large portion of the target market that is unaware of Contemporary Ti Design's products. • Limited time and budget to market the company to the segmented target population. • The struggle to constantly create new designs. • The possible inability to meet demand due to the small size of the company. 2.2.3 Opportunities • A growing market that, to a large degree, is unaware of Contemporary Ti Design. • The possibility to grow the size of the company so Steve is spending his time creating and allowing others to deal with the administrative details. • The injection of fresh, creative designs in a somewhat stagnant industry. 2.2.4 Threats • A decrease of availability of raw materials due to demand from other industries. • Artistic copycats that enter the market and mimic Steve's designs. • A slowdown of the economy that will have a reduction on individual's discretionary income. 2.3 Competition and Buying Patterns As previously stated the jewelry industry is composed of thousand upon thousands of people. Some work and distribute locally, others have national distribution systems set up. Some artists will design products for larger companies to manufacture, others will design and make the pieces themselves. This plan will have an abridged competition section. This is because of the very large and distributed nature of artisan jewelry design, the market is entirely too dispersed to have a complete catalog of the competition. Competition takes the following forms: • Artists creating designs that are manufactured on a large scale and distributed nationally. The artists might be famous enough to have their own one-name studio that creates designs and the product is made and sold under the larger companies name. If the artist Contemporary Ti Designs Page 5