SWOT Analysis/Target Market

SWOT Analysis/Target Market

Your SWOT analysis will consist of listing your Strengths, Weaknesses, Opportunities, and Threats.  You MUST keep in mind that your Strengths and Weaknesses concern your company INTERNALLY.  Your Opportunities and Threats are EXTERNAL concerns.  External concerns include the economy, political/legal issues, technology, competitors, consumers, etc. List these concepts via bullets under each heading (Strengths, Weaknesses, Opportunities and Threats.)

SWOT should include trends. For example, Allstar group is heavily focused on one product, Allround. Due to lack of diversity in the product portfolio of Allstar Group, the company faces too much risk in one market. What I mean by risk is that if a competitor enters the same market and gains some market share from Allround, the company is prone to lose sales and profits comparatively more than other companies, because other companies have more diverse product portfolios. It is like putting all your eggs in one basket. Please note that this is a trend and it is hard to change in a couple of years. To diversify your product portfolio, you need to launch new products, promote, distribute, and advertise them. These steps are most likely to take at least 3-4 years.

 

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