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When one seeks to integrate a new product within the market, one of the first steps that should be taken is a simple analysis of some of the reasons for why the product has been chosen, why it is relevant, what helps to differentiate it from a mountain of competition, what level of complexity it entails, and ultimately why people would buy it…
1. SWOT Analysis Firstly, with regards to why this product has been chosen, it has come to the attention of the stakeholders for this group that there exists a very large submarket for goods within the wine community. As a function of the fact that this community consumes goods based upon utility, function, and the level to which glasses and other tools of the trade can increase the overall experience as well as the taste of the wine. Accordingly, the product is relevant due to the fact that it fills a particular need for resilient wine glasses that are neither exorbitantly expensive no so cheap that they can be considered as little more than a novelty item to be disposed of or shelved away. Naturally, with regards to how the product itself is differentiating, this is of course denoted by the product name and description. Whereas there exist many fine examples of extremely expensive wine glasses on the market, there exist relatively few offerings that both serve to integrate consumer needs with the utility of a wine glass that is not highly fragile. In the past, cheap wine glasses had sacrificed form and function for their resilience; utilizing thick glass or crystal in order to prevent breakage; however, due to the new magnesium fusion process whereby the glass is blown, much thinner crystal is able to be used. ...
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