Swot Analysis: SWOT Analysis Of A Business

1501 Words 6 Pages
SWOT Analysis Any business must generate profits in order to be successful and competitive in the market. In order to make profits, businesses need to reach, engage with customers and persuade their business. This is possible when marketers by understanding the mission, vision, management, policies and operation of an entity, implement an effective marketing plan. According to Armstrong, G., & Kotler, P. (2015), “In addition to being good at the marketing companies also need to pay attention to management. Managing the marketing process requires the four marketing management functions” (p. 54). One of this marketing management functions is ‘analysis’. This is the first step that needs to be taken when a marketing plan is being prepared because …show more content…
It is understood that this analysis may assist to discover a strategic window of opportunity, or a differential advantage.
SWOT Analysis After analysis the environmental conditions to bring a new service to our facility, In order to be able to promote our new service effectively, I must conduct a SWOT analysis by analyzing internal and external behaviors. According to the Mind Tools Editorial Team (n.d.), “…is a useful technique for understanding your Strengths and Weaknesses, and for identifying both the Opportunities open to you and the Threats you face” (para. 1). So strengths, weaknesses, opportunities and threads are identified below.
Strengths
Strengths are the advantages that an organization has over the competition. The top management, managers and employees of a company must be able to be aware of what are the aspects that make their company better than the competition. According to Armstrong, G., & Kotler, P. (2015), “strengths include internal capabilities, resources, and positive situational factors that may help the company serve and achieve its objectives” (p. 54-55). So, in order to identify the strengths of my organization the following questions must be addressed: (1) What do we do well? (2) Is my organization known for doing a better job compare to the competition? (3) What positive factors add value to my

Related Documents