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Understanding the "S.W.O.T. Analysis"

Have you heard of the term, "S.W.O.T. Analysis"? It is a way to analyze your business and your competitors. This is the foundation of a strong marketing strategy. Strengths, Weakness, Opportunities & Threats (S.W.O.T.).

Develop categories to outline the unique features of your company. What do you do best? What areas of your business could use improvement? What useful resources are available to you? What are the needs or additional needs of your customers? What does your competitor have over you?

Take time to mull over the advantages and disadvantages of your business strategy. You will find the answers to these questions will change over time. This is normal. The S.W.O.T. Analysis is always a step in the right direction.


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