SWOT Analysis Marketing

SWOT Analysis For Marketing

Strengths, Weaknesses, Opportunities, Threats

SWOT Analysis

Internal Assessment

  • S
    Strength

    Strengths provide an area to list everything done right either individually or as an organization.
  • W
    Weaknesses

    Weaknesses are aspects of your business that place you at a competitive disadvantage.

External Assessment

  • O
    Opportunities

    Opportunities are factors that represent the reasons your business is likely to prosper.
  • T
    Threats

    Threats are factors beyond your control that could place your business at risk for failure.

Strengths

These are the factors within your organization that lend themselves to its success. To determine strengths, ask yourself what your company does well and how those abilities will enhance your potential business.

Weaknesses

It’s great to be enthusiastic about your business idea, but you also have to be realistic. Examine the prospective business closely for internal weak points and consider how to eliminate or minimize them.

Opportunities

Opportunities are external positive factors that can affect your business. For example, they can include weak competition in your niche, growth in your particular market that increases demand, and technological changes that make it cheaper or easier to deliver your product or service.

Threats

Threats are external negative factors that can undermine your potential business. For example, a home renovation business can rise or fall based on the overall strength of the local real estate market or an economic downturn.

A SWOT analysis is essential to you digital strategy marketing plan.

  • Strengths

  • What are your business advantages?
  • What are your core competencies?
  • Where are you making the most money?
  • What are you doing well?
  • Weaknesses

  • What areas are you avoiding?
  • Where do you lack resources?
  • What are you doing poorly?
  • Where are you losing money?
  • What needs improvement?
  • Opportunities

  • Any beneficial trends?
  • Niches that competitors are missing?
  • New technologies?
  • New needs of customers?
  • Threats

  • Obstacles to overcome?
  • Aggressive competitors?
  • Successful competitors?
  • Negative economic conditions?
  • Government regulation?