Description

The SWOT Analysis
The Internal:
Identify strengths of the company/brand as it exists today.
The strengths are what the business does well. The business has direct control over its strengths. For example, if the business has a great working relationship with its suppliers, that’s a strength. If the business offers something new and innovative that their competitors lack, that’s a strength. Identify three strengths and explain why you consider them strengths.
Identify weaknesses of the company/brand as it exists today.

Weaknesses are what the business does not do well. The business has direct control over its weaknesses. For example, if the product tastes bad or has bad customer service, these are weaknesses. Identify three weaknesses and explain why you consider them weaknesses.

What does the company/brand do well and not so well at this very moment?

Think about the business, right now. What is the biggest thing they have going for them? Explain why this is a big deal. Now, think about what they currently do not have going for them, what is the biggest red mark against them right now? Why?
For example, a business may have wonderful customer service, but their product quality may need improvement. So, their customer service would be considered a strength since it is something that the business does well with and is a contributing factor for customers to continue to return to the business and it is something they have direct control over. Poor product quality, on the other hand, would be considered a weakness, since it would be a deterrent for customers to return and repeat purchase and the business has absolute control over the quality of their products/service.

The External:

Identify opportunities of the company/brand in the operating market as it exists today.
The opportunities are items outside of the control of the business that they can use to their advantage. The business has no control over opportunities. Opportunities can lie with the changes in the target audience, their income, their wants/needs/desire, their demand. Opportunities can also be found in the political, legal, economic, technological, sociocultural, and competition changes that are currently taking place in the world and market.

You are looking for items the business has no control over that they can leverage to gain market share, increase profits, or obtain new customers.

Identify threats of the company/brand in the operating market as it exists today.
The threats are items outside of the control of the business that can harm or damage the business. The business has no control over threats. Threats can lie with the changes in the target audience, their income, their wants/needs/desire, and their demand. Threats can also be found in the political, legal, economic, technological, sociocultural, and competition changes that are currently taking place in the world and market.

You are looking for items the business has no control over that they must protect themselves against to prevent losing their current market share, which could cause a decrease in profits or could cause them to lose their current customers.
For example, a prime competitor going out of business would be an opportunity for your business/brand. While the business has no control over the competition closing down, the business can take advantage of this opportunity by stepping up and trying to entice their target audience over to your business/business, which could increase your market share. Whereas new competition entering the market would be considered a threat. While your business/brand has no control over the increase in competition, as competition increases, you could lose customers and market share to the competitors that may be offering benefits/products your brand/business does not offer.

  
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