SWOT Analysis

         Superiority Weakness Opportunity Threats (SWOT), proposed by Heinz Weihrich, professor of the University of San Francisco (USF), analyzes the various conditions contained inside and outside the enterprise for strategic analysis and analysis of competitors, and lets enterprises know their own opportunities and threats so that they strengthen and invest resources. SWOT means Strengths, Weaknesses, Opportunities, and Threats.
     <  Source: the SWOT analysis model - MBAlib>
1.Take functional socks as the trend in line with the current public 1.Because it is functional sock with high  cost, its price is high 1.Expand more physical storefronts 1.Facing the plagiarism of other companies, we can only continuously develop and upgrade technology
2.Be able to provide customized services to attract consumers to place orders 2.There are fewer physical stores, and consumers know about the news mostly from the Internet and the media 2.Actively participate in various activities 2.At modern times, more and more companies with their own brands affect competitiveness
3.Use online marketing to save the cost of setting up physical advertising 3.There are only a dozen employees 3.Add more different thinking of young people 3.There are more and more functional socks with chemical components outside, which will impact consumers’ choices
4.Film documentaries to increase popularity and exposure rate   4.Do more public service activities so as to enhance brand image  
5.Get consumers’ favor with high and stable quality   5.Use the media to promote the brand  
 
SWOT Analysis results：
        
1.From the perspective of advantages and opportunities, there are many conditions that can be used and invested more to accord with the modern public trend. Filming documentary not only improves the popularity, which makes OH9 famous outside, but also lets people re-recognize the development and enterprise of the hosiery industry, and at the same time, successfully promotes the popularity and development of the hosiery industry, killing two birds with one stone. Quality is the focus of the current society. OH9 meets the minds of consumers, which leads to their insistence on doing this brand at the beginning.
       
2.From the perspective of disadvantages, the company loses some consumers because they cannot accept the high price of functional socks. Besides, owing to longer producing time of the functional socks and higher cost, the company should work out a plan to solve the problem of quality decrease due to cost reduction, and increase productivity. Because there are only 3 physical storefronts, and older consumer groups may not be able to acquire relevant information for not using the Internet frequently, the number of physical stores should be increased to allow older people to get to know the relevant information except for young people.
       
3.From the perspective of threats, because modern people pay more attention to [functionality], many companies have begun to develop special socks. OH9 products are of high quality, and other companies have copied them in succession. Therefore, OH9 can only continuously develop new products, improve socks technology and prevent the loss of technology to the market. In the current market, more and more socks use chemical fiber with relatively cheap price, which is undoubtedly a threat for OH9 using natural materials. For this situation, the company only hopes that consumers carefully choose and purchase products. The solution is to educate the public to know that socks made of chemical agent are cheap, but the quality is not stable. At present, more and more companies create their own brands, greatly improving their competitiveness. How to let consumers choose one from various products is the primary task of the current OH9.
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