SWOT

Right Products, Right Brand, Right Company, Right Place, Right Time

One of the brightest spots in the market in 2014 was effects pedals, which enjoyed a robust 13% increase in retail value. Chalk up the gains to fickle guitarists. A decade ago, they were clamouring for high-tech multi-effects devices that packed dozens of processors into a single floor package. Today, they have returned to the tonal authenticity of the humble pedal.

- Pg 62 Music Trades April 2015

Red Witch has ridden out the downturn created by the GFC. The continuation of product development during a period of market retrenchment was a vote of confidence in the future of Red Witch.

Red Witch believes it has the right products and the brand credibility to take advantage of the next wave of growth as well as having the right distributors on board. Red Witch has not only survived the downturn, but has emerged stronger and reinvigorated.

Red Witch believes that a SWOT is not about ticking boxes, it's what you are going to do about it that matters. It is the conversion strategies falling out of a SWOT that transform businesses, and the growth strategy outlined in The Plan greatly reflects this. 

There is no doubt we have a fantastic product that is loved and respected by an impressive list of users. Red Witch has worked hard to convert our largest post GFC weakness, into one of our strengths, and that’s or distribution network. We now have to support these new networks with great marketing to create revenue growth
— Geoff Matthews, Director

Strengths

'A' list of international celebrity users who give their endorsement for free.

Outstanding product reviews worldwide over a long period and across the entire range.

Brand Reputation for Premium Product with great tone and unique functionality.

Full product range.

Damon Waller's appointment, of International Sales Agent, brings international experience and contacts for establishing worldwide distribution.

New distributors on board.

Lack of bass pedals by big name international brands.

Boutique credibility.

Exceptional quality control - minimal warranty and repair issues.

Each pedal offers unique, innovative and usable features for consumers.

In-depth consumer behaviour knowledge.

Small, dedicated team with extensive experience and exceptional capability.

 

weaknesses

Low consumer brand and product awareness in some markets.

Lack of product in front of consumers.

New distributors need marketing support.

Lack of Red Witch specific product and brand knowledge throughout the new sales channels.

Some of the biggest A++ list celebrities use our product, but due to other commercial arrangements they are unable to endorse Red Witch.

 

OPPORTUNITIES

To turn brand equity into cash and shareholder returns.

Music distributors reinvented and invigorated themselves - time right to grow distribution, develop worldwide markets.

Lack of professional development courses worldwide for people working in the industry, leaves a gap in the market which Red Witch can exploit with its brand credibility, to engage the people at the core of the business, on the shop floor.

Becoming a market leader in bass pedal arena.

Knowing what to market, and how, and having the capability to execute.

 

threats

Not raising sufficient capital in-time to 'catch the wave'.

Lack of general floor-effects product knowledge in the music retail environment.

 

Fully developed and awaiting release in 2015, the Zeus Bass Suboctave Fuzz

Fully developed and awaiting release in 2015, the Zeus Bass Suboctave Fuzz