Identifying the Need of the Product Sunkis is a company which offers a unique product to its consumers. Traditionally, it is common to give outfit as a gift or souvenir, or use it in order to create special atmosphere at the party, therefore firm is offering customizable products to its customers by giving them the opportunity to personalize things like clothing and accessories. It is important to mention that the style of the product line is perfectly suitable as a vacation outfit for whole family, uniform for a special event or recreational competitions.
PEST Analysis
Political Stability
Company’s Headquarter located in US, which is considered one of the most consistent countries with its domestic policies regarding trading and manufacturing. Due to the stable government, strong legislative and law enforcement structures company ill be well protected from the legal aspect. One of the big advantages of the location is NAFTA, which will allow Sunkis to manufacture its products in Mexico and supply its market at a satisfactory cost.
Economic Situation
United States has a strong currency, recognizable at most of the countries around the world, that will secure firm from the high fluctuations in the prices of the raw materials. Strong economy, even during the crisis, allowed smaller businesses to keep growing. Availability of the large consumer market, provided Sunkis with an unlimited opportunities for growth.
Socio-cultural Status
There are several point need to be mentioned about the consumers in the United States. First, people are willing to spend money even if they don’t have, they will do it because product is on sale or discounts/ promotions offers available. Second, it can be considered as a national tradition to go shopping, and now when internet made shopping from home possible, people can buy clothes by making a few clicks of a mouse. Third, tendency to give customized gifts for different holidays, good example of it is a Christmas sweaters, in case of the Sunkis, consumers will have an opportunity to dress for any holiday by customizing their outfits. Fourth, many tourist attraction places around the country offer theme souvenirs, but Sunkis will allow people to create their own souvenirs, by advertising in those places. Another aspect is the tradition to spend vacations and holidays in the family circle, Company will let consumer to create an unforgettable atmosphere for every occasion.
Technological Advancement
One of the first aspects need to be mentioned is an advancement in production technologies, company will have to keep up with a development of the new machinery and manufacturing processes developments. Second is advancements in the internet technologies, as an internet based business it will a matter of survival for a Sunkis to keep it up to date and be ready to react to any changes. Third, advancement in computer technologies and it popularization is related to the ability of the company to update its servers and hardware on time in order to keep up with a new technologies, so as a new software development.