You have completed a SWOT (Strength, Weakness, Opportunity, Threat) analysis of the current marketing situation facing the business. Your macroenvironmental audit of the business identified its opportunities and threats while your marketing audit identified its strengths and weaknesses. The keys to SWOT analysis are to focus on quality, to describe key customers, to compete on strength, and to delegate weaknesses.
Your SWOT analysis guides the positioning of the business relative to its three types of competitors.
- Direct competitors offer similar products and services to similar customers.
- Industry-wide competitors offer similar products and services to different customers.
- Indirect competitors ...