SWOT Analysis
Strengths – Weaknesses – Opportunities – Threats
A SWOT Analysis is a strategic planning tool used to evaluate the Strengths,
Weaknesses, Opportunities, and Threats involved in a project or in a business venture or in
any other situation of an organization or individual requiring a decision in pursuit of an
objective. It involves monitoring the marketing environment internal and external to the
organization or individual.
In SWOT, strengths and weaknesses are internal factors.
Strengths could be:
Your specialist marketing expertise.
A new, innovative product or service.
Location of your business.
Quality processes and procedures.
Any other aspect of your business that adds value to your product or service.
A weakness could be:
Lack of marketing expertise.
Undifferentiated products or services (i.e. in relation to your competitors).
Location of your business.
Poor quality goods or services.
Damaged reputation.