← Lessons 07-Marketing Strategies and Principles
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1. INTRODUCTION 2. SWOT ANALYSIS 3. THE MARKETING MIX 4. PRODUCT LIFE CYCLES 5. MARKET SEGMENTATION 6. MARKETING RESEARCH – INTRODUCTION 7. SECONDARY DATA 8. PRIMARY DATA 9. PUBLIC RELATIONS 10. SALES 11. CONCLUSION 12. QUICK EXAM FACTS – MEMORISE THESE 13. FINAL MEMORY CHECKLIST

2. SWOT ANALYSIS

  • SWOT analysis is a regular review of a business as part of its overall marketing strategy.
  • It considers both internal and external factors.
  • SWOT stands for:
  • Strengths – the strong points of the business.
  • Weaknesses – areas where the business is weak.
  • Opportunities – opportunities the business may exploit in the future.
  • Threats – internal or external problems that could threaten the business.
  • Regular SWOT analysis helps keep products and services aligned with changing market conditions.
  • It also gives the business time to take corrective action and avoid potential problems.