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Understand your marketing environment by completing a SWOT analysis
September 2006
Understand your marketing environment by completing a SWOT analysis which
identifies Strengths, Weaknesses, Opportunities and Threats. Strengths
and weaknesses are internal to the business and opportunities and threats
are external. A SWOT analysis is a good way to start your marketing
plan.
One thing to bear in mind is that something or someone that you may see
as a strength could also be a weakness. For example you may identify
a member of staff who has worked for you for 20 years as a strength, bringing
many years experience, knowledge of the business and loyalty. However
they could also be identified as a weakness as they may not be receptive
to change in the business.
Once you have completed your SWOT analysis you need to turn your weaknesses
into opportunities for the business and build on your strengths.
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