SWOT is one of the easiest marketing tools to use, it’s also one of the most useful.
It uses a simple matrix, each cell listing attributes applicable to your entire business, part of it, or to an individual product or service.
- Strengths and Opportunities are positive aspects
- Weaknesses and Threats are negative
- Strengths and Weaknesses relate to the business, product or service itself
- Opportunities and Threats, to the business environment
The SWOT process gets us thinking about all four factors, to avoid clouded judgement, it’s useful to get acquaintances to repeat the process for you.