SWOT Analysis
This article briefly provides in a few pages a comprehensive guide for marketers to develop a SWOT analysis. It is important for marketers to understand their firm's position in the marketplace, and to set realistic objectives within the marketing plan, as part of the organizational strategic plan. Note that this is an exercise and it requires the input of several key individuals to provide insight and input.
What Are the Elements of a SWOT Analysis?
Listing Your Internal Factors: Strengths and Weaknesses (S, W)
Internal factors include your resources and experiences. General areas to consider:
- Human resources - staff, volunteers, board members, target population
- Physical resources - your location, building, equipment
- Financial - grants, funding agencies, other sources of income
- Activities and processes - programs you run, systems you employ
- Past experiences - building blocks for learning and success, your reputation in the community
Don't be too modest when listing your strengths. If you're having difficulty naming them, start by simply listing your characteristics (e.g., we're small, we're connected to the neighborhood). Some of these will probably be strengths.
Although the strengths and weaknesses of your organization are your internal qualities, don't overlook the perspective of people outside your group. Identify strengths and weaknesses from both your own point of view and that of others, including those you serve or deal with. Do others see problems--or assets--that you don't?
How do you get information about how outsiders perceive your strengths and weaknesses? You may know already if you've listened to those you serve. If not, this might be the time to gather that type of information. See related sections for ideas on conducting focus groups, user surveys, and listening sessions.