swot analysis and marketing research

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S.W.O.T

Analysis

³a personalapproach´



Free Template from www.brainybetty.com 2

Course Objectives

� Familiarization of the SWOT Analysis

� Integration of one¶s personal SWOT with

with the source of business idea chosenby the course participant

� Personal level understanding of his/her

strenghts and weaknesses

� Personal level understanding of his/her

opportunities and threats



What is a Strength?

� Comparative advantage against

competitors ( if personal, against other

people)� Includes ³core competencies´ which are

advantages that are difficult to match or

imitate




� emerged brand name, market leadership,

excellent customer service resulted incustomer loyalty, superior quality products,

innovative Research & Development, ,

and/or strong financial resources

� Strengths must be developed maintained

and defended

� Strengths include all internal resources




Personal Strenghts include but are

not limited to:� Image

� Money� Time

� Connections

� Possessions

� Ideas

� Skills� Knowledge

� Attitude

� Others




Weaknesses

� refers to a situation when your competitors

have potential advantages over you in

their capabilities such as deliveries, profitmargin, market spread, customer base

etc.

� Or simple resources that you don¶t have

that your competitors or other people have




Opportunities

� External Opportunities is referred to an

external environmental factors that provide

additional venue to increase revenue� Or Resources that you can acquire due to

external factors such as technology,

economics, politics, legal, or socio-cultural

factors




Threats

� External Threats are environmental factors

that can hinder you in achieving your

business objectives and goals.




� perceived threats can include:

� the entrance of new competitors

� Suppliers and customer bargaining power

� impending negative legislation,

� New technology� Introduction of innovative products by

competitors,

� competitors open more new saleschannels,

� change of tax structure, removal of

incentive schemes etc.Free Template from www.brainybetty.com 9



Threats

� Or Resources that you can lose due to

external factors such as technology,

economics, politics, legal, or socio-cultural

factors etc




MarketingResearch



³A journey of a thousand miles begin with a

single step´




Problem Identification

� Problem well defined is a problem half

solved

� Objectives must be clearly stated� After which the research can be designed

properly

� ³Properly´ means = efficient generation of answers that which is needed




Sources of Marketing research

Problems� Unanticipated change

� Planned change

� Serendipity in form of new ideas

� ³The idea if which if we can find a solution

the problem, it may translate into either new or improved product or service´




Unanticipated Changes comes from:

� Environment

± Demographic

± Economic ± Technological

± Competitive

± Political

± Legal changes




WILL THIS CHANGES TURN

OUT TO BE A PROBLEM OR

AN OPPORTUNITY?




Unanticipated Changes comes

from:� Internal sources

±Losing market share

±Sales below forecast

±Losing sales people




The key is: Find out why and

formulate a product or

services that solves the

problem




Planned Changes arise from:

� Introduction of new products

� Improved Customer service

� Effective pricing and advertising

strategies




Planned Changes arise from:

� Answers the questions ³ how will

you bring about the planned

change?� Investigates on feasbility of

alternatives under consideration




Problems arise from serendipity

or chance ideas� New ideas come from:

±Research

±Feedabck from sales people

±Customer




IN ENTREPRENEURSHIP, OR

MARKET RESEARCH

PROBLEM IS ³USUALLY

SOURCED´ UNDER PLANNEDCHANGES AND SERENDIPITY




³RESEARCH DESIGNS´




exploratory

� Discovers ideas and insights used to

further defined the problem




Descriptive

� Determining the frequency by which

something occurs or the relationship

between the two variables

� Guided by one or more initial hypothesis

� Investigates trends in consumption w

respect to demographics




Causal

� Cause and effect relationship

� Experiments

� Determining effective sales promotionstrategies

� Trial and error




� Exploratory and used for unplanned event

� More known variables uses descriptive(providing for answers)




³PRINCIPLES OF

QUESTIONNAIRE DESIGN´




Components of questionnaire design

� Words

� Questions

� Formats� Hypothesis

This components must be integrated into a

recognizable, hierarchical layer system


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