OXO Kitchen Gadgets – Developing marketing strategy on a budget
1. SWOT analysis. A SWOT analysis is the cornerstone of any successful strategic plan. A business should be evaluated from all angles before mapping its future and a good way to do that is by looking at its internal and external resources and threats. Identifying the positive and negative influencing factors inside and outside its business, will help navigate and implement a sound marketing strategy. Figure 1.1 shows the internal and external factors affecting the marketing opportunities for OXO International. Pairing external threats with internal weaknesses highlights the most serious issues OXO faces. After identifying risks OXO can decide whether to use company resources to eliminate the internal weakness or reduce the external threat by abandoning that area of business until the company is stronger (Kotler and Armstrong 55-57).

2. OXO target market. Before targeting comes market segmentation – dividing an entire market up into customer segments. There are various variables used in segmenting consumer markets (Kotler and Armstrong 193). In a marketing strategy video, Larry Witt, Senior Vice President of Sales and Market Development for OXO International said while they skew toward older consumers, OXO also attracts younger consumers with their design and innovation. Here the demographic, psychographic, and behavioral segmentation variables are discussed in relationship to three of OXO’s U.S. market segments: (1) seniors and the impaired, (2) the design savvy, and (3) foodies. Segmentation Variable | Seniors and the Impaired | The Design Savvy | Foodies | Demographic | * 65 and older * Younger and physically impaired in some way * Women | * Varied group of men and women * Aged 18-60 * More education * Make more money | * Average age in mid-40’s * Median annual salary of