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SWOT ANALYSIS
COMPETITIVE ADVANTAGES
The following is a listing of the primary competitive advantages of the Company upon entering the market.
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Helping people to keep their memories alive myLife A.D. is a platform that allows you to prepare and preserve. Prepare for death while preserving memories. Competitive pricing for customers 30-Day Free trial period Digital support right at their computers and mobile phone, customers do not need to go anywhere Team of highly trusted people Automated system and less personal involvement Easy to use the desktop account and mobile app for customers Last Will & Testament will be powered by Rocket Lawyer through an API
SWOT ANALYSIS
The following is a listing of the key strengths and weaknesses of myLife A.D., as well as the opportunities and threats that exist within the marketplace.
Strengths
• Knowledge, expertise, and dedication of the founder • Customer service commitment • Scope and quality of services • Competitive pricing structure • Ease of payment solutions • Digital support right at their computers and mobile phone, customers do not need to go anywhere • Team of highly trusted people • Automated system and less personal involvement • As a new business, the Company must build its credibility and brand awareness • The Company must keep secrecy and confidentiality of client information
Weaknesses
Opportunities
• The increasing number of baby boomer demographics and marketability • The increasing trend of social media usage among the target market • Increasing mobile penetration among senior demographics in the USA • Instability of the US economy leads to unpredictable market activity • Larger companies that have more resources and the ability to reach deeper into the market and become a competitor
Threats
RISK ANALYSIS:
The risks involved with myLife A.D. will be minimal. The Company will implement a highly effective marketing campaign, build industry connections, and communicate its value to potential customers while focusing on how it uniquely fills a market need. Therefore, the Company stands as a viable business opportunity that has the potential to deliver significant returns to any investor or lending institution.