Marketing Analysis SWOT Analysis A SWOT analysis is

Marketing Analysis

SWOT Analysis • A SWOT analysis is done by businesses to analyze a situation to see how well they are doing in their market. • It helps businesses identify Strengths, Weaknesses, Opportunities and Threats of that business. Strengths and weaknesses are internal while opportunities and threats are external. • It can analyze the business, a product or service or a person.

Check Out An Example! • https: //www. youtube. com/watch? v=m. R 9 e. ICQJLXA&feature=emb_l ogo

Strengths • What advantages does your organization have? • What do you do better than your competitors? • What unique or lowest-cost resources can you draw upon that others can't? • What do people in your market see as your strengths? • What factors mean that you "get the sale"?

Weaknesses • • • How can you improve? What will cause you to lose sales? What is your perceived weakness by your customer? How can you change that perception? What area are you lacking in, compared to your competition?

Opportunities • What trends can you benefit from? • What customer need is currently not being met? • As you make a profit, how would you improve your experience or business? What would you add? • Is there an area of the market that you can expand in?

Threats • What are your competitors doing? • If using technology in your business, will changing technology impact your market? • Will any political decisions impact your market? • Will climate change impact your market?

Assignment • Use the business that you have created for last week’s assignment and conduct a SWOT analysis. • Try to provide at least three examples for each sections for analysis. • If you are having trouble, pick a tourist attraction or business that is already established and conduct the analysis on them.