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Adam McLainOL-317 Small Business Management Milestone 2Southern New Hampshire University14JUL19
We will now be shifting our focus towards an environmental and industrial analysis that Porkchop Productions operates within. A SWOT analysis will inform of us the internal strengths and weaknesses of the organization. We will also be examining the external opportunities and threats to the organization. Analysis of existing trends will help forecast its abilities to operate in the economy, work around competition, legal, political, cultural, and technological environments.The environmental and industry analysis reveals a massively growing market. The field of digital advertising is currently worth over $192 billion USD globally (Digita Global Marketing, 2018). By 2020 the market is predicted to be worth $306 billion USD (Digita Global Marketing, 2018). This is a doubling of worldwide digital advertising was in 2015 which was $161.77 billion USD (Statistica, 2019). As an organization that has its hands in videography, photography, animation, website development, passive income via stock photos, and social media marketing, Porkchop Productions is working to establish itself through multiple means within a competitive market. Video production organizations have a thirty to sixty percent profit margin (Simpson, 2018). Some industry leading products include omni-channel marketing, AMP and ALP for websites and out stream video (Instapage, 2018). In 2019, key trends include vertical video as society has embraced smartphone footage, cinemagraphs which appear similar to the moving newspapers in the Harry Potter films, long-form content, wider adoption of 4k and 8k, LinkedIn Video, and it is expected that smartphone use will exceed five billion users (ProductionHUB, 2019). In the United States, video production companies have experienced a 2.9% annual growthin the period of 2014-2019 (IBISWorld, 2019). Simply, the environment of the industry is one of optimism and growth.
Porkchop Productions has several key strengths. As a one-man operation it remains small