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SWOT Analysis

Summary

One of the most fundamental aspects of marketing is understanding the SWOT Analysis.  In many undergraduate marketing courses, this is a main point of discussion throughout a majority of the semester.  It isn't a perfectly comprehensive model for marketing and there are always more details that can go into the analysis of a company's marketing campaign.  However, the SWOT Analysis is a fundamental and basic entry point to know where a company stands in their marketing and what their future might be from a marketing perspective.

Key Points

SWOT:
  • Strengths: The current strengths of a company in terms of their marketing campaigns and overall business strategy
  • Weaknesses: Both perceived and unperceived weaknesses within the business that can and should be improved on
  • Opportunities: Opportunities that could come up within the next few months or years that the company may capitalize on
  • Threats: Looming threats to the business such as competitors, economic changes, product innovations, etc.

Discussion Questions

Identify a specific business and perform a SWOT analysis of that business, in consideration:
  1. How will the company discover their unperceived strengths and weaknesses therein?
  2. What strengths are most valuable to the business and what weaknesses are most detrimental?
  3. If not capitalized on, how much will potential "opportunities" threaten our business?
  4. how can we avoid looming threats while maintaining a forward-focused approach?

REFERENCE

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TOPICS

Marketing