๐ง This lesson is available for listening.
๐ Part 1: Situational Analysis & SWOT
This and the next lesson belong to the block โSearching for Opportunities.โ We begin with a situational analysis โ an assessment of the current state of the business. Even when conducted informally, this step is crucial: it lays the foundation for strategic marketing planning.
๐ฏ Learning outcomes of this lesson
- โ Get familiar with 7 tools for analyzing the marketing environment.
- โ Analyze your companyโs position โ from the perspective of the company itself, customers, and the market.
๐ ๏ธ Core Marketing Analysis Tools
- SWOT Analysis
- PESTEL Analysis
- Porterโs Five Forces
- Customer Journey Map (CJM)
- Positioning Map
- BCG Matrix
- Market Segmentation Diagram
Note: Results may differ across teams โ expert judgments are normal when hard data isnโt available. The value comes from people and practice.
๐ SWOT Analysis
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. The quality of a SWOT depends on the quality of the questions you ask.
Guiding Questions
Strengths
- โ What do we do better than competitors?
- ๐ What do customers value most?
- ๐ Which processes are especially efficient?
- ๐ What helps us win orders?
- ๐ What protects us from risks and retains clients?
Weaknesses
- ๐ง What can we improve?
- ๐ซ What should we avoid?
- ๐ What do customers perceive as weaknesses?
- ๐ Which factors lead to lost sales?
Opportunities
- ๐ฑ Which market opportunities and trends can we leverage?
- ๐ Which regulatory changes may affect the industry?
- ๐ Which socio-demographic shifts open new perspectives?
- ๐ Which local events and projects create demand?
Threats
- ๐ง Which external obstacles and competitor actions limit us?
- ๐ Are standards of quality and service expectations changing?
- ๐ป Are there risks in finance, technology, or regulation?
- ๐ธ Do financial or cash flow gaps threaten stability?
- โ Can any weakness grow into a serious threat?
๐ Example (Party Rental Company in Wake County, NC)
What Does the SWOT Table Provide?
SWOT turns observations into actions: it shows what to build on, where the weak spots are, which external opportunities to leverage, and which threats to prepare for.
๐ฏ Example Goals
- ๐ Strengthen digital presence โ refresh website, improve SEO, grow social media, and encourage reviews.
- ๐จ Diversify the assortment โ add neutral and color options (covers/linens), launch light upsell.
- ๐ค Reinforce positioning โ focus on backyard & tailgating, local campaigns and partnerships.
- โก Increase operational flexibility โ prepare for peak seasons (inventory/contractors), tighten logistics and SLAs.