In today’s food market there is an abundance of foods that are considered nutritionally-empty, of doubtful origin and made with questionable ingredients. Relative to the craft chocolate industry, we can identify the following strengths:Ĭonsumers are craving quality in their food. In a SWOT analysis, the Strengths are the characteristics of the business that give it an advantage over others.
Therefore, let’s dive into a SWOT analysis of the craft chocolate industry in 2018.
Profit margins are tight, and those engines need to run like there is no tomorrow! But it might be a good idea to stop those engines for a second and take a moment to analyze what’s happening at a macro level in the market. In the craft chocolate industry, the mantra is “produce, produce, produce!”. The ethical or unethical way in which certain companies use marketing is entirely up to them. Marketing is meant to explore consumers’ needs and behaviors, so that a business can find the most effective ways to communicate the strengths and positive values of its products. But Marketing doesn’t necessarily have to mask a bad product or sell consumers things they don’t need. From the Mast Brothers scandal to the new Ruby Chocolate launched by Callebaut, it’s clear how marketing can bring you a long way even without a brilliant product. This is often considered a way to make up for a mediocre product. Let’s face it: the craft chocolate industry doesn't appreciate marketing.
On the other side, the company can take important decisions based on the real opportunities and threats from the market. On one side, the company becomes aware of its advantages and disadvantages compared to the competition.
In the marketing field, the SWOT analysis is a tool that allows a business to figure out its internal Strengths and Weaknesses, as well as its external Opportunities and Threats.
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