Situation and SWOTI Analysis YETI coolers are built with a purpose and are designed to withstand the abuse of outdoor elements. The whole reason why the founders designed YETI refrigerators was to help outdoor lovers in their daily lives. From fly fishing in Belize to elk hunting in Colorado, the YETI was created to store perishable products for a long period of time and take the abuse of miles traveled. YETI's mission statement correlates with the founder's needs: "Build the refrigerator we would use every day." The refrigerator is made for outdoorsmen/women, commercial fishing, hunting and outdoor activities which can keep game, food, drinks, beer much longer and colder. Our marketing plan is aimed at a niche market that is beneficial to our company. YETI's popularity is increasing, which translates into a steady increase in demand for our products. YETI can be seen as a necessity, meaning that the higher an individual's disposable income results in increased purchases of YETI products. Consumers who would normally never spend up to $400 on a cooler are now also purchasing YETI coolers due to constant exposure to YETI products and the perceived benefits of owning our products. YETI also has the ability and opportunity to reach untapped markets abroad as our products can be used by anyone who needs to keep perishable products cold for an extended period of time. The benefits of adding a fully sealable lid to our mugs include minimizing the risk of liquid spilling. the contents of the cup, as well as this lid has the potential to keep liquids at the desired temperature for longer thanks to the absence of external elements constantly entering the cup. One downside to making this lid fully sealable is that some of YETI's major competitors already have this option available to our customers, so YETI would not be the first mover for this niche market as we have been in the past. But since this product already exists in competing product lines, introducing a fully sealable lid into YETI products will certainly help YETI become more competitive, resulting in increased sales and profits. One potential threat to this new product is that YETI will almost certainly charge more for their product, even if the product already exists on the market.