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SWOT Analysi. This needless to say means an analysis of th. Strengths - which areas a business excells compared to it. competitor.
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Weaknesses - which areas other businesses has to improve o. in relation to its competitor. Opportunities - All things which benefit the busines. Threats - All things which can threaten a businesse.survival, or a products surviva. Aspects which influence a SWOT analysis ar. - Market share - Sales - Profit. - Competition - Advertising - Size of customer bas. - Pricing - Innovative potential. - Product characteristics (company reputation, price, design.
colour uniqueness, quality, warranty, packaging, sale.
support, and positioning in.SWOT Analysis..To conduct a SWOT analysis write down answers, as an individual or in a group, to the following questions. List your Strengths.What are your advantages in attracting quality employees. In performing the service you provide. In making whatever you make.What do you do well? Is there anything you do better than most? Better than anyone else.Consider this from your own point of view, and from the point of view of the people you deal with. Dont be modest, be realistic..Be sure to consider the critical areas people, technology, marketing, and finance. Weaknesse.What should be improved.What do you do poorly.What should you avoid, based on mistakes in the past.Again, consider these questions from an internal and external perspective. Do other people perceive weaknesses that you dont see? Do your competitors do any better? It is essential to be realistic here, and face any unpleasant truths as soon as possible.. Opportunitie.Where can you find, or create, a competitive advantage.What are some major trends in your business?.- Consolidation / Diversification?.- Specialization / Generalization.Opportunities can come from such things as.- Changes in technology. Such as computer software that lets you perform services that others can not.- Changes in the types of businesses in your potential market, such as the demand for healthcare or telecommunications expertise.- Changes in social patterns, population profiles, lifestyle..- Changes in creative trends.- Changes in demand for certain types of services, perhaps related to interactive / Internet. Threat.What obstacles do you face?.What are your competitors doing that may result in a loss of clients, customers, market share.Are the required specifications for your job, products or services changing.Is changing technology threatening your position?.Do you have cash-flow problems?.SWOT Analysis Lesso.SWOT analysis is a tool for auditing an organization and its environment. It is the first stage of planning and helps marketers to focus on key issues.Once key issues have been identified, they feed into marketing objectives. It can be used in conjunction with other tools for audit and analysis, such as PEST analysis and Porters Five-Forces analysis. It is a very popular tool with marketing students because it is quick and easy to learn. During the SWOT exercise, list factors in the relevant boxes. Its that simple..SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal factors..A strength could b.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 b.lack of marketing expertise.undifferentiated products and service (i.e. in relation to your competitors).location of your business.poor quality goods or services.damaged reputation.Opportunities and threats are external factors. For exampl.An opportunity could b.a developing market such as the Internet..mergers, joint ventures or strategic alliances.moving into new market segments that offer improved profits.a new international market.a market vacated by an ineffective competitor.A threat could b.a new competitor in your home market.price wars with competitors.a competitor has a new, innovative product or service.competitors have superior access to channels of distribution.taxation is introduced on your product or service.A word of caution, SWOT analysis can be very subjective. Do not rely on it too much. Two people rarely come-up with the same final version of SWOT. TOWS analysis is extremely similar. It simply looks at the negative factors first in order to turn them into positive factors. So use it as guide and not a prescription.Simple rules for successful SWOT analysi.be realistic about the strengths and weaknesses of your organization.analysis should distinguish between where your organization is today, and where it could be in the futures.be specific. Avoid grey areas..always analyse in context to your competition i.e. better then or worse than your competition.keep your SWOT short and simple. Avoid complexity and over analysis.SWOT is subjective..What is PEST Analysis.It is very important that an organization considers its environment before beginning the marketing process. In fact, environmental analysis should be continuous and feed all aspects of planning. The organizations marketing environment is made up from.1. The internal environment e.g. staff (or internal customers), office technology, wages and finance, etc... The micro-environment e.g. our external customers, agents and distributors, suppliers, our competitors, etc... The macro-environment e.g. Political (and legal) forces, Economic forces, Sociocultural forces, and Technological forces. These are known as PEST factors..Political Factor.The political arena has a huge influence upon the regulation of businesses, and the spending power of consumers and other businesses. You must consider issues such as.1.How stable is the political environment?..Will government policy influence laws that regulate or tax your business..What is the governments position on marketing ethics?.4. What is the governments policy on the economy?.5. Does the government have a view on culture and religion?.6. Is the government involved in trading agreements such as EU, NAFTA, ASEAN, or others.Economic Factor.Marketers need to consider the state of a trading economy in the short and long-terms. This is especially true when planning for international marketing. You need to look a.1. Interest rates.. The level of inflation Employment level per capita.. Long-term prospects for the economy Gross Domestic Product (GDP) per capita, and so o.Sociocultural Factors.The social and cultural influences on business vary from country to country. It is very important that such factors are considered. Factors include.1.What is the dominant religion?..What are attitudes to foreign products and services?..Does language impact upon the diffusion of products onto markets?.4.How much time do consumers have for leisure?.5.What are the roles of men and women within society?.6.How long are the population living? Are the older generations wealthy?.7.Do the population have a strong/weak opinion on green issues?.Technological Factor.Technology is vital for competitive advantage, and is a major driver of globalization. Consider the following points.1. Does technology allow for products and services to be made more cheaply and to a better standard of quality?..Do the technologies offer consumers and businesses more innovative products and services such as Internet banking, new generation mobile telephones, etc..How is distribution changed by new technologies e.g. books via the Internet, flight tickets, auctions, etc?.4.Does technology offer companies a new way to communicate with consumers e.g. banners, Customer Relationship Management (CRM), etc?... (www.google.com.
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