The purpose of this stepwise assignment is to provide an opportunity to play the role of marketing manager and gain valuable, first-hand experience in writing, organizing, and polishing a marketing plan.
In this first part, you will be beginning what will be come your Executive Summary for your marketing plan. This starts as a general description of your product. You will begin with:
A SWOT analysis is a strategic planning tool that is used to assess the Strengths, Weaknesses, Opportunities, and Threats involved in an organization, business or a project.
Information in a SWOT analysis is organized into internal and external factors.
An examination of strengths & weaknesses of a company is a internal look at current company operations. It is used to identify what the company does well and where it need to improve.
An examination of the external environment in which a company operates involves identifying industry trends & outside forces that pose future threats or opportunities for the company.
SWOT, as seen above, breaks down to:
Here’s a sample SWOT matrix for an online tailored-shirt business. Although many more factors came up during brainstorming, these were deemed to be the most important.
Strengths
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Weaknesses
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Opportunities
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Threats
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Info sources from WordStream, UNO LibGuide, LIU Post LibGuide, Shopify.
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