SWOT analysis is most affordable marketing tool

Date:

2020-06-10 23:00:15

Views:

6355

Rating:

1Like 0Dislike

Share:

Table of contents:

To win the competition, athletes need to know their strengths and weaknesses (use strong, weak, strengthen), as well as their rivals. The business – the same race, only the prize – profit and win the competition. SWOT analysis is:

  1. Strengths (strong sides).
  2. Weaknesses (Weaknesses).
  3. Opportunities (Opportunities).
  4. Treats (threats). swot analysis is a

The object of the analysis of strengths and weaknesses (S and W) are internal factors, opportunities and threats (O and T) – outside beyond the influence of the object.

Internal factors include:

  • Staff;
  • Pricing;
  • Marketing;
  • Management;
  • Finance.

Look, in turn, is:

  • Government (laws, taxes);
  • Social environment;
  • Competitors;
  • Natural factors, etc.

Analyze using marketing tools swot analysis weaknesses

At first glance, the methodology of the SWOT-analysis is much easier other ways to assess economic activity. It is easy to group all 4 factors and build upon them to make managerial insights. But if you do not focus on a specific product, market segment or individual specialization, you can obtain a list of General recommendations.

It Should be noted that strengths it is desirable to evaluate terms of the company's customers. Because the staff can't be objective in this matter. Therefore SWOT analysis is the opportunity to look at the activities of the company through the eyes of the consumer. Important work here for feedback. To explore consumer attitudes to the company, you need to conduct market research. On the basis of its built results of the analysis of strengths and weaknesses.

Recommended

Staff evaluation: system and methods

Staff evaluation: system and methods

Personnel Assessment allows you to identify how competent the employees involved in the enterprise, and it is the performance of their work – the most significant factor affecting the efficiency of the company. To clarify the impact of performa...

How to start your own business: important aspects.

How to start your own business: important aspects.

Many people, tired of working for someone else, are increasingly thinking about how to start your own business. Someone wants to open a salon, someone store, and someone enough and vegetable stalls. Before you throw in the pool with his head, it is i...

business activities. its essence and basic functions

Business activities. its essence and basic functions

The Entrepreneurial activity of the citizen – is undertaken at your own risk and independent activity, which aims to systematically profit through the sale of works, goods, services, use of the property. The citizen engaged in such activities, ...

The matrix is Usually made of four parts, which have a familiar name "SWOT analysis". Weaknesses are ranked by importance, strong similarly and so on. Then, each object is checked for the impact of any object from another part of the matrix. For example, highly qualified staff – a strong side. This is for any company of importance one of the first priorities. Am I affected by this measure, the impact of competition? Yes, the frames are often lured. Therefore, one of the conclusions will concern the minimization of this risk.

How to practice? methodology swot analysis

Another example: the company maintains a highly competitive pricing due to tax concessions and the use of cheaper raw materials. This advantage, which may influence both the government and competitors. Therefore, in the long term does not exclude the possibility of the disappearance or weakening of this strengths. Conclusion: the need at the moment to take advantage to the maximum, and then to diversify activities or to go to the expensive, but prestigious products.

Thus, SWOT analysis is the opportunity cost-define its position in the market at the moment, to develop recommendations in the short term. Any marketer should know these basics. Since in practice such a matrix is often applied when evaluating forces and capabilities of the firm.

It May be that not all recommendations are feasible, because a SWOT analysis is only a tool. From the list of received strategies to choose a successful, arithmetic methods do not do this. Clear recommendations for the choice of no, remember the definition of entrepreneurship: economic activity is at your own risk.


Article in other languages:

AR: https://tostpost.com/ar/business/22659-swot.html

BE: https://tostpost.com/be/b-znes/40109-swot-anal-z---geta-samy-dastupny-marketyngavy-nstrument.html

DE: https://tostpost.com/de/business/39630-swot-analyse---ist-die-g-nstigste-marketing-instrument.html

ES: https://tostpost.com/es/centro-de/39380-an-lisis-foda-es-la-m-s-asequible-herramienta-de-marketing.html

HI: https://tostpost.com/hi/business/24287-swot-analysis-is-most-affordable-marketing-tool.html

JA: https://tostpost.com/ja/business/22245-swot.html

KK: https://tostpost.com/kk/biznes/40502-swot-taldau---b-l-e-ol-zhet-md-marketingt-k-raly.html

PL: https://tostpost.com/pl/biznes/42348-analiza-swot---jest-to-najbardziej-przyst-pne-narz-dzie-marketingowe.html

PT: https://tostpost.com/pt/neg-cios/41969-a-an-lise-swot-o-mais-acess-vel-uma-ferramenta-de-marketing.html

TR: https://tostpost.com/tr/business/37038-swot-analizi---bu-en-uygun-bir-pazarlama-arac.html

UK: https://tostpost.com/uk/b-znes/40968-swot-anal-z---ce-naydostupn-shiy-marketingoviy-nstrument.html

ZH: https://tostpost.com/zh/business/36273-swot-analysis-is-most-affordable-marketing-tool.html






Alin Trodden - author of the article, editor
"Hi, I'm Alin Trodden. I write texts, read books, and look for impressions. And I'm not bad at telling you about it. I am always happy to participate in interesting projects."

Comments (0)

This article has no comment, be the first!

Add comment

Related News

Work in taxi drivers

Work in taxi drivers "for" and "against"

it is Noticed that in times of financial crises especially popular among the job seekers of additional income getting a job in a taxi. his car was making before. In some cities the owners of the vehicles ‘bombed" others...

FMCG market absorbs this world

FMCG market absorbs this world

People working in the retail trade, the phrase “the FMCG market” repeat several times a day. Although many do not fully understand the meaning of this abbreviation. Fast Moving Consumer Goods – FMCG (or fast wrap...

Grocery is a promising and profitable business

Grocery is a promising and profitable business

Grocery is borrowed from the Arabic language the word (literally translated as “look and take it”), in the authentic version meaning dry foods: raisins, dried apricots, various cured meats. In Turkey the word “ba...

The main goal of entrepreneurial activity

The main goal of entrepreneurial activity

Entrepreneurship — this timely organization and connection of certain factors of production such as capital, land, labour and entrepreneurial skills, to create products or services (intended for sale), always satisfying soci...

Multimodal transportation. The features and benefits

Multimodal transportation. The features and benefits

Multimodal transportation is an option of delivery through a mixed cargo that can be carried out both within the country and abroad. In other words - the products are supplied alternately by several modes of transport: air, road, ...

How to write a business plan: key points

How to write a business plan: key points

Many who decided to start their own business, ask the question: "How to write a business plan?" This formative stage of the new project performs three main tasks:Designation for managers common goals.Clearly laid out thoughts in w...