What is a SWOT analysis?
A SWOT analysis is used in strategic marketing. The term comes from the English language and stands for strengghts, weaknesses, opportunities and threats. In this way companies can compare their strengths and weaknesses and their opportunities and threats.
The aim of this is to define measures with which the opportunities can be best used and at the same time the risk or threats can be kept as low as possible.
The SWOT analysis can be used as a basis for the entire corporate strategy, but can also be applied to sub-areas. However, it is particularly important for the business plan.
The contents are usually arranged in the form of four squares next to each other as follows:
S — Strenghts
What sets us apart? What are our strengths? USP?
W- Weakness
What problems arise? What are we not good at?
O — Opportunities
Which factors can be influenced? What economic improvements can be made?
T — Threats
What could harm us? What problems could arise?
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