Market and customer research

Example SWOT analysis

The following is an example of a SWOT (strengths, weaknesses, opportunities and threats) analysis conducted by a business trying to decide if they should introduce a new product to their range.

The SWOT analysis does not cover the entire business, just the factors that may influence their ability to introduce a new product.

To get the most out of the SWOT, they have made specific statements in each category. For example, rather than simply list 'competitors' as a threat, they have included specific details about how their competitors are a threat.

Once you have read through this example SWOT analysis, you can delete the entries that do not relate to your business, and type your responses to build a SWOT analysis for your business.

Internal environment
Strengths (S)	Weaknesses (W)
Excellent sales staff with strong knowledge of existing products Good relationship with customers Good internal communications High traffic location Successful marketing strategies Reputation for innovation	Currently struggling to meet deadlines - too much work? High rental costs Market research data may be out of date Cash flow problems Holding too much stock Poor record keeping

External environment
Opportunities (O)	Threats (T)
Similar products on the market are not as reliable or are more expensive Loyal customers Product could be on the market for Christmas Customer demand - have asked sales staff for similar product	Competitors have a similar product Competitors have launched a new advertising campaign Competitor opening shop nearby Downturn in economy may mean people are spending less

To print this example SWOT analysis, or the customised information you have entered above, select Print this page (below). To print a blank SWOT analysis, delete the text in the 4 boxes before printing.

Review the SWOT analysis

In the above example, each category of this SWOT analysis could be expanded. The business can then assess the results to decide if they can use their strengths to take advantage of the opportunities and introduce the new product. After assessing the results, they may decide that the weaknesses and threats need to be addressed before they can make any changes to their existing product line.

When you have completed your SWOT analysis you should review the results to help you decide the next step for your business.