5 Killer Steps to Conduct a Tailor-Made SWOT Analysis!

A well-crafted SWOT analysis like the Jamba Juice SWOT analysis enables you to find out where opportunities lie for your business and what areas require extra attention.

Inserting a table to pen down the strengths and weaknesses of your business and setting them off against the factors of opportunities and threats in the marketplace, you will get a picture of what you have to focus on.

Doing an effective SWOT analysis gives you the right direction for your marketing strategy for the future. Most importantly, it is an overview of your internal and external factors.

• Internal analysis

First, begin with the strengths and weaknesses of your business. For strengths, you perform better than your competitors.

And for weaknesses, you need to determine where your competitors perform better than your company.

It would be best if you have some people in the discussion and determine what is strengths and weaknesses are.

• External analysis

After analysing the internal factors, you should determine which environmental areas are opportunities or threats to your business.

For this, you have to analyse the customers, competitors, and marketplace accurately. Additionally, you can also study the legal factors that can affect your marketplace.

• SWOT table

It’s time to put the internal and external factors on a table. On the left side of the table, write down the strengths and opportunities. These are your positive areas.

On the right side, you should put the weaknesses and threats. They are the negative areas of your business.

• Confrontation of the SWOT framework

In this step, you have to confront the most crucial strengths and weaknesses of your business with the most important opportunities and threats.

It allows you to see the connection between your business and the marketplace in which it is functioning. In this way, you can craft an effective marketing strategy.

• Determine the conclusion and strategy

Now, highlight the most authentic relationships from the confrontation matrix. After that, you can decide which action is most suitable for you.

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