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SWOT analysis (alternatively SWOT matrix) is an acronym for strengths, weaknesses, opportunities, and threats and is a structured planning method that evaluates those four elements of an organization, project or business venture.
To reach the goal of a company, there must be a vision and mission to draw a big picture to map the crucial and important strategies for driving out the best achievement of the company. While doing the mapping of the crucial and important strategies, SWOT analysis could become a mean for specifying and identifying the Strength, Weakness, Opportunity and Thread of the company to win the targeted market.
This analysis might seem as a very simple analysis theory. However, it will create the best strategy to win the competition if the marketer has the required capability. It is not about the IQ nor the EQ that will be needed by the marketers to achieve it because there is something more important know as art. The art that will give melody to the note. The art that will give style to the fashion. The art that will give achievement to the marketing.
Why is SWOT Analysis important?
The process of specifying and identifying of SWOT Analysis is important because they can give the information on the later steps in planning to achieve the objective or the goal of the company. The decision-makers should consider well if the objective is attainable, given by this analysis. If the objective is not attainable, the decision-makers should select a different objective and repeat the process.
SWOT Analysis will accordingly drive the plan of the strategy on how the company will go and fight with other competitors to win the market. This is the reason why SWOT Analysis should be well applied especially at the Marketing Department to come out with the best strategy to bring up the brand awareness.
To win the market is just simply as same as to win an online game. There is no much differences between them. So how could this analysis help the marketers to bring up the brand awareness at the market? The specification and identification of the four factors will let the marketers know exactly on what should they do to bring the brand of the company.
What is it? This is the part that will become the basic weapon for the company before going to the battle field. Make sure we have known what kind of weapon do you have before doing the battle. If we have only a small wooden knife, then we shall never try to fight with a giant troll unless we have a magic power. Just wait and build up a strong army to have the power. Identify what is the strength of the company and plan the correct strategy to achieve the attainable goals.
No one is perfect! But don’t let the weakness take away all we have gotten. Somehow, it is very important to see the weakness as a boomerang weapon because the weakness will take away all what we have and come back at the right moment. Prepare for it!
The eagle eyes should play their role to win the competition. Mostly opportunity is related to the timing. A qualified strength and zero weakness will be useless if the marketer can’t play with the time.
Once we have known our thread, we must be able to lock them and drag them far away to avoid any harmful attacks that might give a massive bad impact to the brand that we are riding on.
Once a marketer doesn’t know what is the Strength, Weakness, Opportunity and Thread of a company, there will be no way to win the market with an ease. Furthermore, the usefulness of SWOT Analysis is not limited to profit-seeking organizations.
SWOT analysis may be used in any decision-making situation when a desired end-state (objective) is defined because SWOT analysis can be carried out for a company, product, place, industry, or person.
Lastly, it is a compulsory to apply SWOT Analysis into Online Marketing…
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