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SWOT Analysis

A tool used by organizations to help  the firm establish its Strengths,  Weaknesses,  Opportunities and Threats (SWOT).  A SWOT analysis is used as a framework to help the firm develop its overall corporate, marketing, or product strategies. 

 

 

Note:  Strengths and Weaknesses are internal factors which are controllable by the organization. Opportunities & threats are external factors which are uncontrollable by the organization.


 

Strength examples could include:

A strong brand name.

Market share.

Good reputation.

Expertise and skill

Weaknesses could include:

Low or no market share.

No brand loyalty.

 Lack of experience.

 

Opportunities could include:

A growing market.

Increased consumer spending.

Selling internationally.

Changes in society beneficial to your company

Threats could include:

Competitors

Government policy e.g. taxation, laws.

Changes in society not beneficial to your company.

 

A SWOT Analysis is an excellent tool to use if the organization wants to take a step back and assess the situation they are in. Issues raised from the analysis are then used to assist the organization in developing their marketing mix strategy. A SWOT analysis must form the part of any prudent marketing strategy.

 





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