SWOT Analysis
This is a guide only to assist you in getting started when carrying out your own SWOT analysis.
Outlined are some of the issues you may need to consider, they are not the only issues to consider but rather a sample of what needs to be considered. This analysis should be relevant to the task of preparing your online marketing plan.
Strengths
That special edge that allows you to deal with the market better than your competitor.
Things that the business is good at – things that the business can build on.
When thinking of strengths consider
Unique products and services
- Capital base
- The management team
- The skills of the people working for the company
- Service standards to customers
- The quality of products
- The location of the business
- Suppliers to the business
- Low-cost structure
- Marketing skills
Weaknesses
Understanding your business weakness and forming a realistic response to overcome them.
Things that your business is not good at – things you need to eliminate or strengthen.
Issues to consider include
- High-cost structure of the business
- The quality of products
- The skills of your people
- Poor customer service
- Low morale
- Low sales power
- Ineffective management
- Outdated technology to communicate with customers
- Lack of capital
Opportunities
What will help improve the overall position of the business – what opportunities are available to capitalise on.
Issues to consider include
- New markets opening up
- New technology being introduced
- Improved customer service by being online
- New way of doing things, faster and cheaper Threats
What threatens the future viability and growth of the business online.
Issue to consider include - Action taken by competitors
- Speed with which competitors can implement new technologies online
- Global branding of products
- Government policy
- Size of the business
Threats
What threatens the future viability and growth of the business online.
Issue to consider include
- Action taken by competitors
- Speed with which competitors can implement new technologies online
- Global branding of products
- Government policy
- Size of the business