The SWOT analysis: Strengths, Weaknesses, Opportunities, Threats, also known as FODA or SWOT, is a very useful and necessary tool for the marketing plan, it gives us a very clear vision of the brand, the product, the competitors, the company and the sector.
Let’s start with the Situation Analysis
When we develop a marketing plan, it is essential to carry out a prior situation analysis of the market environment that the company or brand faces, including different sections on the product, customers, competitors, collaborators, context and trends. In this analysis, each of. These areas is evaluat in depth and then this information. Will provide the basis for the development of a strategy adjust to market conditions. This situation analysis is relatively exhaustive and attempts to show all the information requir for planning the marketing plan. Once all the information mention above is available, it is time to carry out a SWOT analysis.
What is a SWOT analysis?
SWOT analysis is an acronym for pricing tables Strengths, Weaknesses, Opportunities, and Threats. SWOT can be us to. Evaluate and analyze a company or. Business, personal brand, and even an idea. and Weaknesses are internal to the company, while Opportunities and Threats are external factors of the sector. Strengths and Opportunities are advantages over. The competition, while Weaknesses and Threats are disadvantages compar to my competitors.
Strengths and Weaknesses
An internal assessment of the organization must be carri out: brand value, brand loyalty, market share, brand awareness, corporate culture, industry know-how, financial strength, production capacity and flexibility, innovation capacity, responsiveness, etc. Some examples to answer:
How is my brand valu?
What is my market share?
What is the company’s core competency?
we have knowlge adb directory of the industry?
we have a big or small marketing budget?
Do we have a big or small budget for innovations?
are our advantages in the market?
What areas of the company can be improv?
is it that the company does not do very well?
Opportunities and Threats
An assessment of external factors must be made: competitors, collaborators, the country’s economy, the country’s politics, legal changes. To evaluate whether these external factors are opportunities or threats, the company’s own resources and its ability to address these external factors must be consider. Some examples to answer:
t is the competition bêste E-commerce-hostingproviders yn 2024 doing that is hurting me?
What are the competition’s prices like?
is the competition’s leadership in the market?
is happening in the market that provides an opportunity for the company?
W changes in the market would benefit the company in the future?
in the market would the company have a competitive advantage?
could change in the market that would make it less attractive for the company?
