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SWOT Analysis
This section of the marketing plan analyzes the major external opportunities and threats to the company and the internal strengths and weaknesses of the company, along with a discussion of key issues facing the company.
External opportunities and threats to the company should be described with possible programs to capitalize on the opportunities, and possible solutions to potential threats to the company.
Internal strengths and weaknesses of the company should be described in a competitive context.
Key issues addresses decisions to be made by the company, based upon the analysis of these external opportunities and threats and internal company strengths and weaknesses, and helps to determine objectives, strategies, and tactics.
External opportunities may be seen in an analysis of the macro environment the company operates in. Other factors affecting your company may come from the market situation or the competitive situation that your company faces.
Strength |
Weakness |
Strengths within your business that add value to your product or your marketing efforts. Strengths describe your positive tangible and intangible attributes.
Strengths capture the positive aspects internal to your business that add value or offer you a competitive advantage. This is an opportunity to remind yourself of the value existing within your business. |
Weaknesses are factors that detract from your ability to have a competitive edge.
Weaknesses include the negative aspects internal to your business that distracting customers from seeing the value you offer or place you at a competitive disadvantage. These are areas you need to enhance in order to compete with your best competitor. The more accurately you identify your weaknesses, the more valuable the SWOT will be for your assessment. |
Opportunity |
Threats |
Opportunities are external to your business. If you have identified "opportunities" that are internal to the organization and within your control, you will want to classify them as strengths. |
A threat is a challenge created by an unfavorable trend or development that may lead to deteriorating revenues or profits.
Competition -- existing or potential -- is always a threat. Other threats may include intolerable price increased by suppliers, government regulation, economic downturns, devastating media or press coverage, a shift in consumer behavior that reduces your sales, or the introduction of a "leap-frog" technology that may make your products, equipment, or services obsolete. What situations might threaten your marketing efforts? Get your worst fears on the table. A part of this list may be speculative in nature and still add value to your SWOT analysis. |
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