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SWOT (situational analysis) analysis (Marketing Process) (strengths…
SWOT (situational analysis) analysis (Marketing Process)
define
Identifies and analyses strengths and weaknesses of the business measuring
projected performance
current performance
past performance
a planning tool, that is used to asses sustainable competitive advantages to maximise strengths
detailed examination of the product life cycle
controls
Strengths
things the business does better than competitiors
Weaknesses
things a business does not do better than competition
External
business has no control over
Opportunities
that arise from external enviroment
Threats
that arise from the external enviroment
strengths
quality of inputs
strong financial position
good reputation with customer/supplier
loyal employees
competitive price advantage
strong sales team
great management
highly trained staff
diverse product range
weaknesses
inefficient tech
outdated product
weak financial position
narrow product range
price disadvantage
diseconomics of scale
poor sales strategies
external influences
general economic conditions
government policy and regulations (
Competition and Consumer Act 2010
)
demographic changes (foot traffic)
technological change
changing consumer attitudes
oppurtunities
existing characteristics of new markets
vulnerable to competitors
government policy and legislation
improved economic conditions
fast growing total market
threats
new competitors
increasing interest rates
cheaper products
changes to government legislation
product lifecycle
introduction, growth, maturity and post maturity