Overview
SWOT (Strength, Weakness, Opportunity, Threat) analysis evaluates the current marketing situation of a business. The keys to enhancing profits with SWOT analysis are to focus on quality, to describe key customers, to compete on strength, and to delegate weaknesses.
Opportunities and Threats
A macroenvironmental audit identifies the opportunities and threats that a business cannot control:
- The mission of the business is an opportunity to focus on a quality solution to a problem.
- The business describes its target market as key customers who remain despite threats in its microenvironment.
Strengths and Weaknesses
After defining its mission and target market, a business conducts a marketing audit to ...
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