Whether a business is just starting out or is an established one, they need to do a market assessment and see where they stand in that mix - or would like to stand in case they are brand new. Consciously or subconsciously they do what the marketing gurus call - a SWOT analysis. SWOT is an acronym. Simply put, it stands for Strengths, Weaknesses, Opportunities, and Threats. Let's expand on this just a little bit. Your company's list of 'Strengths' is basically all the areas where your business is better than your competition eg: better range of services, lower pricing, better vendors etc. 'Weaknesses' are all those areas where you think your business still has room to grow eg: customer service, crunchier pizza base. 'Opportunities' are usually external to your organization and are things that you feel you can or could achieve, that would help your business grow. 'Threats' are again external but make you acknowledge all the factors going ...
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