September 17, 2020

Market Structure for SWOT Analysis: Step by Step Guide

Market Structure for SWOT Analysis

The SWOT analysis helps the persons to understand the external, as well as internal factors of the market structure. It can help you make, as well as break the success towards your marketing goal. This SWOT is an abbreviation that stands for strengths, weaknesses, opportunities, as well as threats. It is a process of brainstorming or thinking technique. It is designed to assist you in understanding that might differentiate you from the competition, as well as the resources you have to execute upon such opportunity. In a similar breath, such SWOT framework helps you to understand that might prevent you from grasping that opportunity.

These four areas encompass for helping you to explore internal, external factors. The internal sources can be considered as your own sources, and the external sources can be considered as the other sources such as competition, market and many other things relating to the market. We can divide the factors into two categories, and it is discussed in the following points.

  • Internal: It can be your resources that you have with you.
    • Strengths
    • Weaknesses
  • External: It may not be in your hand to control such as market, competition, and many other things.
    • Opportunities
    • Threats

The SWOT analysis inaugurates by accompanying an inventory of internal strengths, as well as weaknesses in your organization. You should, at that time, note the external opportunities, as well as threats that may affect your organization, on the basis of your market and the overall business situation. You may not be concerned regarding the elaboration on these topics at this stage; the bullet points may be the best way to start. Analyzing the factors you consider are applicable in each of these four areas. You may want for reviewing what you have renowned here as you work through your presentation or marketing plan. The primary determination of the SWOT analysis is to identify, as well as assign each significant factor, positive and negative, to one of the four categories, permitting you to take an objective appearance at your business. This SWOT analysis will be a useful mechanism in developing, as well as confirming your goals and your marketing strategy.

Understanding the tool:

In the simple answer, the toll that is used for such situation that is for personal or business analysis. As we have discussed above that the acronym SWOT stands for strength, weakness, opportunities and threats are analyzed here. Strengths: The factors that give an edge for the company over its challengers or the competitors. Weaknesses: The factors that can be harmful or destructive if its competitors use it against the firm. Opportunities: it is the favourable situation that can bring a competitive advantage.  Threats: there are unfavourable situations that can negatively affect the business.

Strengths and weaknesses are internal to the company and can be directly managed by it, while the opportunities and threats are external, and the company can only antedate and react to them. Swot is extensively accepted instrument due to its simplicity, uncomplicatedness and value of focusing on the key issues that affect the firm. Such swot aims to recognize the strengths and weaknesses that are significant in meeting opportunities and threats in a particular situation.

The SWOT tool has 5 key benefits. It is simple to do and practical to use so. It is clear to understand. It focuses on such key internal and external that may affect the company. It helps to identify future goals, and it initiates future analysis.

Market structure analysis:

What Are Your Strengths?

You should ask yourself in accordance with the company:

  • What tools do we have available to help us reach the marketing goal?
  • What advantages do we have to make the marketing goal a reality?
  • What resources (people, as well as time) will help us?
  • What unique differentiators will help us?
  • How may we leverage our existing audience to reach the goal?
What Are Your Weaknesses?

You should ask yourself in accordance with the company:

  • What improvements could we make?
  • What factors may suck time away from the work we would do to make the goal a reality?
  • What is not going so well right now?
  • What tech restrictions may prevent us from achieving the goal?
What Are Your Opportunities?

You should ask yourself in accordance with the company:

  • What content is not our competition publishing?
  • What could we do to get 10x results with 10% of the work?
  • What kind of stories is not our competition sharing?
  • What new trends could we capitalize upon?

What Are Your Threats?

You should ask yourself in accordance with the company:

  • What are we doing that our competition is also doing?
  • What market conditions or audience sentiment may prevent us from achieving the marketing goal?
  • What is our competition currently doing better than we are?

Example of this market structure for swot analysis:

Strengths:

  • Diversified income (5 different brands earning more than $4 billion each)
  • Second most valuable brand in the world valued at $76 billion
  • Strong patents portfolio (15,000 patents)
  • Competent in mergers & acquisitions.
  • Investments in R&D are reaching 4 billion a year.

Weakness:

  • Very low or zero profit margins
  • Investments in R&D are below the industry average
  • Poor customer services
  • Rigid (bureaucratic) organizational culture impeding the fast introduction of new products.
  • High employee turnover
  • Weak brand portfolio
  • High-cost structure

Opportunities:

  • Growing demand for renewable energy
  • Market growth for the main firm’s product
  • Our country accession to EU
  • The new technology that would drive production costs by 20% is in development
  • The disposable income level will increase
  • Changing customer habits

Threats:

  • Corporate tax may increase from 20% to 22% in 2013
  • Rising raw material prices
  • Rising pay levels
  • Increasing fuel prices
  • Intense competition
  • The market is expected to grow by only 1% next year indicating market saturation
  • Ageing population

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Bella Phillips

Bella Phillips is an essay writer at Myassignmenthelp.co.uk who is associated with the company for the past six years. She has finished her master's degree from the University of South West England and has served as a guest lecturer at several colleges.

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