Sample Marketing Plan - SWOT Analysis

A critical step in the planning stage when producing a sample marketing plan is to do a SWOT analysis that makes both an internal and external assessments of your existing or planned business.

This will subsequently tie in when it comes time to look at your product (and that of your competition). (Links)

So what is a SWAT analysis?

Well, SWOT stands for Strengths, Weaknesses, Opportunities & Threats. Write each of these as ‘headers’ across the top of a blank page the write in your conclusions taking into account the following:

Strengths

• Your capabilities, pertinent experience/ expertise/ qualifications/ reputation
• Product/ Services
• Competitive Edge/ Advantages
• Location
• Unique Selling Points (USPs)
• Financial Situation/ Cash Flow/ Accounting
• Pricing
• Staffing
• Resources
• Communications
• Systems

Weaknesses

• Lack of capabilities/ experience/ expertise/ qualifications
• Product/ Services shortcoming
• Lack of competitive advantage
• Lack of finance/ reserves/ cash flow
• Lack of Time/ Timeframe
• Pricing
• Staffing
• Resources
• Communications
• Systems
• Lack of Support/ Cover

Opportunities

• New product
• Gap in the market/ market development
• Changing trends/ new markets/ geographical
• Reduction in competition
• New USPs/ tactics
• Levels of economy
• Increased purchasing power
• Advancement in technology
• JVs (Joint Ventures), partnerships
• Improved distribution network
• New customer opportunities

Threats

• New competition
• Increased costs
• Change in working/ trading environment
• Decreased demand in the market place
• Political, geographical
• Advancement in technology
• Unforeseen circumstances
• Loss of business
• Increase in weaknesses
• Loss of key staff, essential support

Obviously these lists are not exhaustive and there will be areas pertinent to your type of business or service.

Note as well that certain topics can just as well be a weakness as well as a strength or a threat instead of a an opportunity.

Having completed your SWOT analysis and having satisfied yourself that your strengths far outweigh your weaknesses, that weaknesses can be turned into strengths – perhaps with time and that you have sufficient strengths to develop and that you have weapons in your arsenal to combat future threats, then its time to move on and take a sample marketing plan and develop it into the one pertinent for your business.

To make things easy why not invest in Palo Alto Marketing Plan Pro or Sales and Marketing Pro (the cheaper option of the two)

See Also:-

The First Steps In Your Market Planning Strategy
Definitions Of Marketing
Preparing Your Small Business Marketing Plan
Small Business Marketing Plans Stage 2
Small Business Marketing Strategy
Direct Business Marketing Plan
Marketing Plan Example For Price And Brand Positioning
Outlining For Budgets
B2B Marketing