(v1-1.6) SWOT analysis

What is SWOT analysis about?

SWOT is an acronym that stands for Strengths, Weaknesses, Opportunities and Threats. SWOT is a common analysis tool that scans the past and present strengths and weaknesses of an existing business as those attributes are perceived by objective parties (not the management!). Furthermore, SWOT displays the upcoming opportunities and threats of the business in question, as perceived by its management > learn more

A practical tip!
In order to collect information on your strengths and weaknesses, approach your current consumers as well as your potential customers and ask them a basic comparative question.

For example, in a restaurant you might ask a returning client: "As a person who appreciates restaurants, when you think about our restaurant, what do you consider to be positive attributes, especially when comparing to other restaurants? What are the points for improvements (negative issues)?" and finally you can end your non-official marketing survey with: "As a thank you note - your desert and coffee are on the house".

Selected "quotes" from sample marketing plans Thanks to an in-house survey we have conducted; we finally realized what are our unique advantages in the eyes of our returning clients. They came up with our friendly approach while we always thought it’s all about our competitive prices. Jewelry shop and direct importers, Seattle, Washingnton, USA What can you write in YOUR marketing plan? Our main competitive advantages, as perceived by our clients, are... Our main weaknesses, as perceived by our clients, are... Based on our accumulated experience, the main opportunities that can be seized during the next year are... threats that can be addressed during the next year are mainly...
		> more tools

The next issue in your marketing plan
>> Positioning - analyzing perceptions