Marketing : 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 eg 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.