5.3.1.8. Phase 2 Tools: Choices
Detailed SWOT Analysis
The end result of all the data collection and analysis conducted during Phases 1 and 2 is to first make choices about what customer segments should be pursued and what the strategy should be to pursue them. One way to integrate the four Cs above into this analysis is with a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis. Context is used for the internal factors (SW), while Channels, Customers and Competitors are integrated into the external factors (OT). As a first step in applying this analysis, the team built up SWOT analyses for both markets.[1]
The basic thinking behind a SWOT analysis is that strengths can be used to exploit opportunities and mitigate threats in the market, while the impact of weaknesses either needs to be addressed to take advantage of opportunities or minimized to reduce the potential damage from external threats.
Footnotes
- ↑ The internal factors are identical for both markets, while the external factors are populated based on Phase 1 and Phase 2 research.