The SWOT is a widespread strategic analysis tool that makes it easy to use. Its name is an acronym for Strengths ("Strengths"), Weaknesses ("Weaknesses"), Opportunities ("Opportunities") and Threats ("Threats"). So, we can also call it a SWOT analyzer.
How to do a SWOT analysis?
When to use SWOT analysis?
What is SWOT in marketing?
How to present an oral SWOT?
How to do a SWOT analysis?
The SWOT matrix:
The SWOT analysis consists of an internal diagnosis (strengths and weaknesses of the company) and an external diagnosis of the business environment (opportunities and threats). Everything is in the form of a matrix:
Internally, various elements can become a strength as well as a weakness. It will be necessary to study the technologies used (innovative or obsolete, simple or complicated to set up), the company's offer (originality, value for money, etc.), any patents filed, internal organization, market shares, reputation (customer satisfaction, loyalty, etc.) as well as the company's experience in the sector.
Externally, we will study the competition, the evolution of the market (growth or decline, prospects, etc.), international opportunities, ease of access to the market for newcomers, substitute products, legislation (potential or threat), environmental and social pressure, as well as technological development (support or threat).
Matrix analysis:
Once the matrix is completed, you will need to analyze it. It will then be necessary to ask whether the forces are sufficient to impose themselves on the market and to think about how to strengthen them, how to eliminate or mitigate the weaknesses, how to seize the opportunities and how to counter the threats.
When to use SWOT analysis?
The SWOT analysis is a decision support tool that allows you to take a step back through a synthetic approach. It is part of a global strategic approach.
The SWOT analysis is a means and not an end. Which results in the formulation of objectives, strategy, action plan, then operational implementation and finally monitoring.
The SWOT analysis can be used in different phases of the life of a company: for the construction of the Business plan, during the creation phase of activity, before the takeover of a company, to implement improvements in a business already in operation or for the launch of a new product.
What is SWOT in marketing?
The SWOT analysis offers market research before starting a new project. It enables marketing analysis to be carried out by targeting a project and its competitive environment. This new project can be a product, service, communication, etc. It aims to implement a strategy by determining business objectives.
The SWOT analysis can be a marketing audit tool whose goal is to find and retain customers. We use it in particular in the annual marketing plan that aims to plan communication actions over the year.
How to present an oral SWOT?
The oral presentation of the SWOT itself must be concise and fairly quick because the most important thing is what follows: the action plan. The SWOT only serves to establish the context
Second, the following order should be respected: threats, opportunities, weaknesses, strengths.
Finally, it will be necessary to provide support, in particular a slide show where the main elements will be highlighted by highlighting them for example, as well as the documents allowing to justify the advanced elements.