SWOT Analysis: What are My Opportunities & Threats? [Free Download]
A SWOT (strengths, weaknesses, opportunities, and threats) analysis is an important tool when developing your marketing strategy. As part of your SWOT analysis, you’ll have to identify any opportunities your company should take advantage of and any threats you could face.
You’ll be able to use your strengths to take full advantage of any opportunities that come your way, while creating a plan for avoiding any threats.
Are any of our competitors gaining a strong foothold in our target market?
Is our target market shrinking?
Are there any changes to policies or other regulations that could harm my business?
Is there new technology emerging that could threaten my business?
Examples of Threats
You can’t predict the future, but by preparing for some potential threats, you’ll be better prepared if they happen. To help you think about what could threaten your company, let’s look at some potential threats for that clothing boutique:
You’ve been selling quite well online, but now you have to charge more customers sales tax. You can’t afford to keep up with all the requirements, and many of your online customers are choosing to shop with other stores, since they now have to pay sales tax anyway.
A local competitor put up a billboard on a prominent road near your store.