SWOT Analysis: Understanding Strengths, Weaknesses, Opportunities, and Threats, Summaries of Auditing

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SWOT Analysis

What is SWOT?

 Tool for auditing an organization and its environment  First stage of planning  Helps marketers to focus on key issues.  SWOT stands for S , W , O , and T .  Strengths & Weaknesses = factors  Opportunities & Threats = factors

Why Use It?

• The main purpose of a SWOT analysis is to to products and services
• Doing this can help a business new customers, loyal customers, and products and services to customer segments over the long-term.

When to Use It?

 per year  When individual. : ◦ staffing issues ◦ business culture and image ◦ organizational structure ◦ advertising ◦ financial resources ◦ operational efficiency

Which one is a STRENGTH for

McDonald’s?

A—Unhealthy food B—Lawsuits against McDonald’s C—The idea to add home meal delivery D—Having the largest fast food market share in the world

Answer:

Which one is a WEAKNESS for

McDonald’s?

A—High employee turnover B—Lawsuits against McDonald’s C—$2 million advertising budget D—Changing customer habits and new customer groups

Answer:

Which one is an OPPORTUNITY for

McDonald’s?

A—Local fast food restaurant chains B—The idea to add home meal delivery C—Partnerships with many big brand names D—Negative publicity

Answer:

Which one is a THREAT for McDonald’s?

A—An unhealthy food menu B—Brand recognition valued at $40 billion C—Creating new menu items for changing customer habits and new customer groups D—Trend towards healthy eating

Answer: