marketing-information management lap 8 objectives explain the reasons for conducting a swot...

Marketing-Information Marketing-Information Management LAP 8Management LAP 8

ObjectivesObjectives

Explain the reasons for conducting a SWOT Explain the reasons for conducting a SWOT analysis.analysis.

Demonstrate procedures for conducting a Demonstrate procedures for conducting a SWOT analysis for use in marketing SWOT analysis for use in marketing planning.planning.

Explain the reasons for conducting a Explain the reasons for conducting a SWOT analysis.SWOT analysis.

ObjectiveObjective

• Carl’s lawn-mowing serviceCarl’s lawn-mowing service

• Where to go from here?Where to go from here?

• Needs to see “the whole picture”Needs to see “the whole picture”

Discovering SWOTDiscovering SWOT

• WeaknessesWeaknesses

SWOTSWOT

• StrengthsStrengths

• OpportunitiesOpportunities

• ThreatsThreats

SWOT analysisSWOT analysis

• Looks at these factors in Looks at these factors in an organized fashionan organized fashion

• Important part of the Important part of the strategic planning processstrategic planning process


WeaknessWeakness

StrengthStrength

• Any resource or capability your Any resource or capability your business has that can help you business has that can help you gain a competitive advantage in gain a competitive advantage in your industryyour industry

• Any limitation or shortcoming your Any limitation or shortcoming your business has that can keep you business has that can keep you from achieving your objectivesfrom achieving your objectives

OpportunityOpportunity

• Any favorable situation in the Any favorable situation in the environment surrounding your environment surrounding your businessbusiness

ThreatThreat

• Any unfavorable situation in the Any unfavorable situation in the environment surrounding your environment surrounding your businessbusiness


INFORMATION

Benefits of SWOT analysis:Benefits of SWOT analysis:

• PrioritizePrioritize

• Look at your business with the Look at your business with the proper perspectiveproper perspective

• Discover issues you hadn’t thought Discover issues you hadn’t thought of beforeof before

• Filter for a great deal of informationFilter for a great deal of information

• Insight into competitors Insight into competitors


Who should be involved Who should be involved in SWOT:in SWOT:

• Top company executivesTop company executives

• Employees at every levelEmployees at every level

• SuppliersSuppliers

• Customers Customers


When to conduct SWOT:When to conduct SWOT:

• Any time!Any time!

• Especially helpful Especially helpful when you have a when you have a limited amount of time limited amount of time

Demonstrate procedures for Demonstrate procedures for conducting a SWOT analysis for use conducting a SWOT analysis for use

in marketing planning.in marketing planning.

ObjectiveObjective

How to ConductHow to Conducta SWOT Analysisa SWOT Analysis

Should I expand my lawn-mowing

business beyond my neighborhood?

First, establish objectives First, establish objectives and goals.and goals.

For larger businesses, For larger businesses, define the scope of the define the scope of the SWOT analysis.SWOT analysis.


Interviewing key contributorsInterviewing key contributors

• One-on-one sessions work best.One-on-one sessions work best.

You can give full attention.You can give full attention.

People will feel more free to People will feel more free to share information.share information.

• Explain the purpose of the Explain the purpose of the interview.interview.

• Keep answers confidential.Keep answers confidential.

• No need to go in SWOT order.No need to go in SWOT order.


StrengthsStrengths

• Internal organizational factorsInternal organizational factors

• Questions to help determine:Questions to help determine:

What are our advantages?What are our advantages?

What are our assets?What are our assets?

Where are we making money?Where are we making money?

• Don’t downplay strengths.Don’t downplay strengths.

• Consider them in relation with Consider them in relation with the competition.the competition.


WeaknessesWeaknesses

• Internal organizational factorsInternal organizational factors

• Questions to help determine:Questions to help determine:

What can we improve?What can we improve?

What resources do we lack?What resources do we lack?

Where are we losing money?Where are we losing money?

• Avoid being too negative.Avoid being too negative.

• Weaknesses are different from Weaknesses are different from mistakes.mistakes.


OpportunitiesOpportunities

• External organizational factorsExternal organizational factors

• Determined through Determined through environmental scanningenvironmental scanning

• Helpful questions:Helpful questions:

What new needs of customers What new needs of customers can we meet?can we meet?

What economic trends are What economic trends are beneficial to us?beneficial to us?

What niches have our What niches have our competitors missed?competitors missed?


ThreatsThreats

• External organizational factorsExternal organizational factors

• Determined through Determined through environmental scanningenvironmental scanning

• Helpful questions:Helpful questions:

What obstacles do we face?What obstacles do we face?

What is our competition doing?What is our competition doing?

Do we have money problemsDo we have money problems??


Key issues in each categoryKey issues in each category


SWOT strategies:SWOT strategies:

• S-O: focus on opportunities that are a good match S-O: focus on opportunities that are a good match with the business’s strengthswith the business’s strengths

• S-T: focus on using a business’s strengths to S-T: focus on using a business’s strengths to overcome its threatsovercome its threats

• W-O: focus on overcoming a business’s W-O: focus on overcoming a business’s weaknesses so the business can pursue weaknesses so the business can pursue opportunitiesopportunities

• W-T: focus on ensuring that a business’s W-T: focus on ensuring that a business’s weaknesses don’t make it even more vulnerable to weaknesses don’t make it even more vulnerable to the threats it already facesthe threats it already faces


CAUTION

SWOT cautions:SWOT cautions:

• SWOT is subjective—there isn’t SWOT is subjective—there isn’t necessarily a right or wrong.necessarily a right or wrong.

• Live in the present—where is your Live in the present—where is your business right now?business right now?

• Be specific.Be specific.

Kristen’s dilemma

• She disagrees with her boss on SWOT analysis.

• What should she do?

MarkED

Acknowledgments

Original DevelopersChristopher C. Burke,

Sarah Bartlett Borich, MarkED

Version 1.0

Copyright © 2006MarkED Resource Center

Copyright:

All photographic digital images on this CD are owned by the aforementioned photographic resources or their licensors and are protected by the United States copyright laws, international treaty provisions, and applicable laws. No title to or intellectual property rights to the images on this CD are transferred to you. These sources retain all rights and are not to be used, digitally copied, transferred, or manipulated in any way. To do so is a violation of federal copyright laws.

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