PEST Analysis-
1.Political - In the starting company faced some political issues relating to the raw material to be used but when it was cleared that the raw material to be used is eco friendly and the straps are also made without using animal skins and all.
2.Legal- Legal issues were relating to the location of the company as it was not to be located near the residential area
3.Economic- Funding was done the banks and was easily available but still until and unless there will be good and profit proper advertisement cannot be done as it requires huge funds.
4. Socio-Cultural- Keeping in mind the socio-cultural factor we are trying to make watches which do not require battery as the watches in the old days were made. Having some good research and with the traditional idea we will be soon launching our some of the watches which will be really some best articles as compared to other companies.
1.Political - In the starting company faced some political issues relating to the raw material to be used but when it was cleared that the raw material to be used is eco friendly and the straps are also made without using animal skins and all.
2.Legal- Legal issues were relating to the location of the company as it was not to be located near the residential area
3.Economic- Funding was done the banks and was easily available but still until and unless there will be good and profit proper advertisement cannot be done as it requires huge funds.
4. Socio-Cultural- Keeping in mind the socio-cultural factor we are trying to make watches which do not require battery as the watches in the old days were made. Having some good research and with the traditional idea we will be soon launching our some of the watches which will be really some best articles as compared to other companies.
SWOT Analysis-
1.Strength- Our strength is we are making our products using the raw material which is eco friendly and is really very safe for our environment.
2.Weakness- One of our weakness is only relating to funding for advertisement on large scale.
3.Opportunities- We are dealing in men , women as well as unisex watches which is like a opportunity for us to explore a huge market and keep hold on it.
4.Threats- Treats is just from the current existing companies as they have hug advertisement funds as compared to our company.
1.Strength- Our strength is we are making our products using the raw material which is eco friendly and is really very safe for our environment.
2.Weakness- One of our weakness is only relating to funding for advertisement on large scale.
3.Opportunities- We are dealing in men , women as well as unisex watches which is like a opportunity for us to explore a huge market and keep hold on it.
4.Threats- Treats is just from the current existing companies as they have hug advertisement funds as compared to our company.
Competitive Aanalysis
Porter's Five Forces comparing to our competitors are:-
1.Threats Of New Entrances - Like new entrances of the companies brings more competition in the market so there is always a threat from the new entries in the market.
2. Bargaining Power Of Supplier - The suppliers are the people which delivers raw materials for the production of the goods and if they start bargaining as a group of whole so we need to accept their conditions
3.Substitutes - Mainly substitute for our product is only the technology as of today as people do not use watches to look for time as they always have cell phone in their hands .
4. Bargaining Power Of Buyers- Buyers also have a great impact on the company as they are the only reason that the product is made to be sold .
Porter's Five Forces comparing to our competitors are:-
1.Threats Of New Entrances - Like new entrances of the companies brings more competition in the market so there is always a threat from the new entries in the market.
2. Bargaining Power Of Supplier - The suppliers are the people which delivers raw materials for the production of the goods and if they start bargaining as a group of whole so we need to accept their conditions
3.Substitutes - Mainly substitute for our product is only the technology as of today as people do not use watches to look for time as they always have cell phone in their hands .
4. Bargaining Power Of Buyers- Buyers also have a great impact on the company as they are the only reason that the product is made to be sold .