SWOT Analysis MKT 3850 Dr. Don Roy

What is SWOT? S trengths W eaknesses O pportunities T hreats SWOT reflects organization at a given point in time.

Strengths Organizational traits developed internally over time. Potentially can be used to advance organization’s mission Strengths reside in: –Product –Price –Place –Promotion –Customer relationships

Weaknesses Limitations of organization that could potentially harm business if not addressed Sources reside in same areas as strengths Weakness is not a permanent condition!

Opportunities Favorable trends or traits of external environment that could benefit the organization Cannot be controlled or changed given they occur externally External Environment –Sociocultural trends –Economic trends –Competitive factors –Technological trends –Legal/Political forces

Threats External conditions that could negatively impact organization Unable to change its occurrence, but can adapt to its presence Competition Economy Sociocultural trends

Operationalizing SWOT Analysis SWOT Responses Match Opportunity with Strength Convert Weakness to Strength? Convert Threat to Opportunity Minimize/Avoid Weakness or Threat StrengthsWeaknesses OpportunitiesThreats

Conducting SWOT Analysis 1.Competition – Broad is best! 2.See through customers’ eyes 3.Find underlying causes 4.Recognize what is (and is not) within organization’s control