An acronym for a common approach to marketing and strategic planning that emphasizes comparisons between companies and/or products and services to find “holes” or positions in the market that represent more successful market opportunities as well as threats that should be alleviated.
Strengths = A comparison listing of competing company, product, or service strengths for the purpose of identifying which strengths a company or offering might have uniquely that can be leveraged for better market opportunity.
Weaknesses = A comparison listing of competing company, product, or service problems for the purpose of identifying which weaknesses a company or offering might need to strengthen in order to be successful.
Opportunities = A comparison listing of a company’s, product’s, or service’s greatest strengths compared to competitors’ strengths and weaknesses.
Threats = A comparison listing of a company’s, product’s, or service’s greatest weaknesses compared to competitors’ strengths and weaknesses.
Ideally, the comparison lists of strengths and weaknesses should be derived through the process of Environmental Modeling or Research and the list of competitors should include at least one “Competitor X,” that is, a competitor that isn’t commonly referred to that could become a competitor through plausible developments
WikiSWOT – Free SWOT Analysis Research. (n.d.). Retrieved March 11, 2011, from http://www.wikiswot.com/