One of the most popular tools among marketers this simple and effective tool helps to Understand the situation that the company is into the Market as a player; This tool is important for a business identify its Strengths and Weakness to outcomes Opportunities and avoid Threats:
- Outcomes the company’s Strength’s (Differentiation).
- Understand the company’s Weakness, therefore, support to develop the strategy to improve it.
- Highlight Opportunities in a niche that can be explored.
- Avoid Threats that external influences can bring.
See the chart below elaborated by corportatefinanceinstitute.com:
If you want to know more about SWOT Analysis take a look in the following link that corportatefinanceinstitute.com prepared explaining in detail about it.