Swot Analysis : Swot And Swot

1957 Words Jul 26th, 2016 8 Pages
SWOT analysis focuses on the internal factors which are the company’s strengths and weaknesses as well as the external factors which are the opportunities and threats which are gained from situational analysis which focuses on summarizing all the pertinent information acquired about the key three environments of internal, customer, and external (Ferrell & Hartline, 2014, p. 39). A SWOT analysis further gives a company precise advantages and disadvantages in satisfying the needs of its selected markets.Even more importantly, SWOT helps a company to determine where it exceeds greatly in strategy and areas in which more improvements are needing to be made. SWOT is heavily utilized by many corporations and this analysis has gained an even greater global welcoming from its comprehensible structure in which is highly regarded for many aspects such as organizing a company’s strategic position when developing a marketing plan.

SWOT is primarily one of the most essential tools in analysis of marketing data and information (Ferrell & Hartline, 2014, p. 85). Furthermore, it is considered as highly effective and useful in unveiling competitive advantages that can influence a company 's marketing strategy if it 's performed correctly.

Additionally, there are many considerable benefits of a SWOT analysis such as it provides simplicity, lowers costs associated with strategic planning, provides flexibility, easy integration and synthesis and fosters collaboration. Furthermore, these…

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