It is a way of producing a summary which then provides the basis for developing marketing objectives or aims, and ultimately strategies or plans.
Strengths, weakness, opportunities and threats analysis provides a framework within which marketers can identify significant developments in markets.
Strengths
The strengths of my business are
? Not much local competition
? Young and energetic entrepreneurs
? Unique product (home-made and well cooked hot meals)
? Large group of people to target
Weakness
The weakness of my business is
? Little entrepreneurial experience
? Shortage of investment capital may limit expansion
? No established reputation
? Limited experience in the prepared food trade
Opportunities
The opportunities for my business would be
? `Time-poor` people increasingly like food to be made for them as they do not have the time to make it for themselves
? Increasing disposable incomes means that people are better able to pay for such a service
? Students are more likely to eat lunch in a fast food outlet
? People like an increasingly varied diet
? Could diversify into a wider range of products
Threats
The threats that may occur could be
? A number of well-established, national fast food chains may remain the first choice for customers e... displayed 300 characters
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McDonald's, Burger King
? A lot more people would want to eat healthier and turn to sandwiches and baguettes
? This is currently a growth area, so additional competitors could be attracted to the market displayed 300 characters
