SWOT Analysis in the Marketing Plan Template

After performed the PEST analysis and 5-forces of Competitions mentioned in earlier posts, the data collected from these two analytical tools can be further evaluated and used into the input of developing the Marketing Strategy. In order to be systematic all the way, a SWOT Analysis Template is used collated these input and categorized into the respective four factors of SWOT.

What is SWOT Analysis?

SWOT Analysis is a tool formed an essential tools for Marketing Strategy. Briefly SWOT is an abbreviation for Strengths; Weaknesses; Opportunities and Threats. Fro the purpose of identifying the appropriate input into the SWOT factors, there are grouped into the Internal factors i.e. Strengths and Weaknesses and the External Factors i.e. Opportunities and threats.

The Internal factors are used to determine the capabilities of a business and operation competencies to deal with the Strengths and Weaknesses established from the data collection. Whereas the External factors collected from the PEST Analysis and 5-Forces of Competition are used

In order to complete a SWOT Analysis, the four factors are collated based on the guidelines below:-

Strengths

It refers to the internal competency related factors that can enhance or improve the capability of the business. Examples are :-

Strong financial

Good Reputation

Weaknesses

It refers to the internal discrepancies within the business or operation in relation to the fulfillment to the market expectations. Examples are:-

Late delivery

Over capacity

Opportunities

These are external factors collected from the PEST Analysis and 5-Forces of Competition and other sources. Briefly, those factors that has positive impact to the market are generally taken as an opportunities. Examples are:-

Implementation of import duty (Local demand increase)

Migration of skill workforce ( towards your industry)

Threats

These are external factors collected from the PEST Analysis and 5-Forces of Competition and other sources. Briefly, those factors that has negative impact to the market are generally taken as the Threats. Examples are:-

Formation of supplier cartel ( demanding of price )

Rapid technology changes ( inability to cope with new technology )

The above are mere brief illustration of the SWOT Analysis. You can read more detail at my SWOT Analysis Blog and witness the SWOT Analysis Template

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