3. SWOT analysis
|> marketing planning overview >|
|1. overview||2. planning||3. swot||4. marketing plan||5. marketing mix||6. product|
|7. price||8. promotion||9. place||10. literature||11. public relations||12. promos|
|13. advertising||14. sponsorship||15. sales|
Strengths Weaknesses Opportunities Threats.
The SWOT analysis is a very simple but effective means of carrying out an analysis of a company/product.
The SWOT analysis is probably the first step in putting together a marketing plan or business plan for your product/business. If you would like help with your SWOT analysis, please contact us.
Strengths: what are the strengths of your product? What makes it better than other products? Are these strengths being sufficiently exploited? Are they being sufficiently defended?
Weaknesses: what are the weaknesses of your product? What makes it inferior to other products? Are there strategies you should be adopting to offset these weaknesses? Should you be removing these weaknesses completely?
Opportunities: what external factors are there that could be embraced if appropriate resources were allocated?
(One of the biggest
opportunities, especially for a small
business, must be the setting up of a
Click here to see the small business package.)
Threats: what external factors are there that threaten to reduce your market share?
The above table gives an idea of what some of the major issues might be under the four main headings. This is a very simple exercise that all businesses should do, not least because of its simplicity. It also forces you to take a much more global view of your business - something which many owner/managers find very difficult when their working day is completely dominated by day-to-day firefighting activities
Once you have completed this task, you should proceed to the marketing plan.
Why not recruit the hourly consultancy services of a marketing professional?