Marketing Tip #3 -- Conducting a SWOT Analysis

After a company develops their business mission, it must perform a SWOT analysis which defines a company's

Strengths

Weaknesses

Opportunities

Threats

Let’s assume a new beauty salon has just been established in a new shopping center. Lets develop a SWOT analysis for this new business

S (trengths)	W (eaknesses)
New designers can relate to our target market Comfortable environment - interior design located in busy shopping center near our target market	New store - low customer awareness

O (pportunities)	T (hreats)
Expansion into a new market demographic Exclusive retailer of selective hair products	Existing salons can already have loyal customers Customers afraid of trying new salon