Full of Life Company’s Description and SWOT Analysis

Topic: Business Words: 1103 Pages: 5 Updated: Oct 6, 2021

Brand Name and Significance
Mission Statement and Rationale for Its Components
Trends in the Non-Alcoholic Beverage Industry
Strategic Position
Distribution Channels
Risks and Their Management
SWOT Analysis
References

Brand Name and Significance

The brand name for the non-alcoholic beverage company is “Full of Life.” The name represents the company’s attention to natural ingredients that are not harmful to consumers’ health. Since the beverage was initially created in a home setting, it will be beneficial for the company to continue working in the same vein and place emphasis on natural and home-made qualities, which are components that customers tend to value currently.

Mission Statement and Rationale for Its Components

The revised mission statement for Full of Life non-alcoholic beverages is “Bringing our customers the most refreshing beverages made with love and nurture from natural ingredients to inspire and gain energy to conquer the day.” The components of the mission statement communicate the company’s orientation to the customer. Instead of saying “our company is the best,” Full of Life shows that it cares for the customer and offers high-quality drinks made with attention and care. The last portion of the mission statement indicates that the drink will help customers gain energy and face their day with new power and attitude.

Trends in the Non-Alcoholic Beverage Industry

The non-alcoholic beverage industry is among the largest and the most dynamic industries, with new trends appearing and old ones disappearing. With products being launched every day, a NAB business must keep up with trends and convince customers that their beverages are the best. In 2017, the NAB industry is expected to see an increase of beverages infused with plant-based proteins, sparkling water, non-alcoholic adult drinks, cold brew coffee, and cold brew tea (Kazonaite, 2016). Therefore, drinks made from natural ingredients present a great opportunity. This type of non-alcoholic beverage was chosen for the following three reasons:

Healthy drinks are gaining momentum in 2017;
The product will be suitable for both kids and adults;
Opportunities for expanding the product line are endless.

Overall, the NAB industry is continually expanding, with healthy drinks becoming a priority for many consumers, as evidenced by the trends in the industry.

Strategic Position

A company’s strategic positioning refers to the efforts of the management to create a certain kind of value as well as how that value could be created differently in comparison to the rivals. In the case of Full of Life beverages, benefit positioning is the most appropriate choice. The company will focus on communicating the unique benefits of the Full of Life drinks by highlighting the most powerful attributes that consumers value. Among such benefits are high quality, health benefits, ethical sourcing, and the home-made approach. While the majority of NAB companies focus on price positioning to stand out among competitors, Full of Life will take a unique approach and will emphasize the benefits of its drinks.

Distribution Channels

When planning how the product will reach the end-users, it is important to take into account the new channels customers use to buy products. For example, creating an official website where customers will be able to purchase products directly is a great option. Collaborating with Amazon will open opportunities to sell the drinks worldwide. As to the physical stores, Full of Life will attain more benefits from working with health stores such as Trader Joe’s, Whole Foods, and other retailers that focus on healthy products. Cooperation with health-oriented retailers will help Full of Life to position itself as a beverage brand that cares about consumers’ health.

Risks and Their Management

The three types of risks Full of Life may face when entering the market and expanding the operations are associated with:

Competition;
Business plans and management strategies;
Supply chains.

To address risks related to competition, Full of Life will focus on its brand positioning as a health-oriented company that puts customers (rather than competitors) first. To address risks associated with management and business plans, Full of Life will create a strategy to involve skilled staff, managers, and investors to develop an action plan for eliminating any issues. As to the mitigation of supply chain risks, the company will have to collaborate with only responsible parties.

SWOT Analysis

SWOT analysis is a technique businesses use for understanding their strengths, weaknesses, and identifying open opportunities and threats. The SWOT analysis for the Full of Life non-alcoholic beverages is presented in the matrix worksheet below:

Strengths:	Weaknesses:
Strong benefit positioning in the market; A strong online presence with an official website and collaboration with online retailers such as Amazon; Drinks made with the help of ethical locally sourced ingredients; Orientation on the customer concerned with his or her health; A family business that has grown into a prospective company; Creative ad campaigns that capture a vast audience; Smaller barriers to entering the market of healthy NABs.	Fluctuations in demand for healthy drinks can stir the attention away from the brand; More expensive compared to other NABs due to higher costs of ingredients; Can be criticized for the strict orientation on health; Less appealing to the audience that is used to sugary fizzy drinks; Cannot be considered as healthy as still water or freshly pressed juice; Lacks coverage in the general media.
Opportunities:	Threats:
Opportunities for brand extension and the creation of new recipes for drinks are endless; Due to increased health awareness of the public, consumers are willing to invest more in high-quality beverages that do not contain any harmful ingredients (“SWOT analysis of vitamin water,” 2014); Full of Life can start positioning itself on the European market of healthy drinks due to the increased popularity of this product type overseas; The brand has an opportunity to collaborate with celebrities and influencers (e.g. bloggers, YouTubers, etc.) to capture the attention of the wider audience to include younger people who are concerned with their health.	Competition on the market of healthy drinks is growing with each year; Brands such as Coca Cola and Nestle are still dominating the NAB market, so the pressure from the larger companies will persist; Economic difficulties can significantly decrease the company’s opportunities to capture more consumers that are willing to invest; Maintaining high-quality standards will be more costly for a smaller NAB producer; The supply of local and ethically sourced ingredients for producing beverages will cost more for the company, which will lead to the increase of price on Full of Life NABs.

Overall, it is expected that Full of Life non-alcoholic beverages will position itself as a consumer-oriented brand that produces high-quality products from natural ingredients. Starting as a small family brand, the company has an opportunity to capture new audiences and attract customers that are concerned with their health. On the other hand, competition in the sector is rising, so Full of Life must develop a strategy to address the identified weaknesses and threats.

References

Kazonaite, M. (2016). Top 5 beverage industry trends for 2017.

SWOT analysis of vitamin water. (2014).