Strengths
Your internal strengths as a company to design, launch, produce, market and support the product along with the strengths of the product itself.Access to high volume distribution channels | Aesthetically pleasing design |
Can scale production to achieve lower cost | Color / style selection |
Customer service capabilities | Designed for accessibility |
Distribution partnerships | Durable |
Efficient e.g. low power consumption | Existing customer base |
Good packaging that's appealing and easy to use | High quality materials |
Integrates with other things | Intellectual property / trade secrets |
Low unit cost | Loyal customers |
Marketing & sales capabilities | Marketing partnerships |
Positive market testing results | Product is customizable |
Reliability | Safety features |
Serves customer needs | Standards compliance |
Sustainability - good for people & planet | Unique and valuable market position |
Usability | Useful features |
Useful functionality | Well known brand |
Weaknesses
The weaknesses of your product or your ability to produce and market it.Customer pain points with product | Dependent on a single supplier |
Design flaws | Few existing customers |
Few loyal customers | Few marketing resources |
High unit cost / high price | Inefficient product |
Lack of distribution channels | Lack of industry expertise |
Lack of marketing / distribution partners | Lack of marketing / sales expertise |
Lack of product differentiation | Limited distribution channels |
Limited market share | Limited media presence |
Limited scalability | Low brand recognition |
Low product quality | Low product variety such as styles and colors |
Market position of product is weak / unclear | Negative customer perceptions of brand / product |
Negative reputation / poor reviews | Poor / no customer service |
Poor packaging | Poor product performance |
Poor usability | Product doesn't meet an important customer need |
Product lacks durability | Product made with low quality materials |
Opportunities
Swot opportunities are external factors that are favorable to you. This should not be confused with regular opportunities such as plans you can make to improve things. The following are illustrative examples of swot opportunities for a product.Changing customer needs | Changing customer preferences |
Competition have weak brand recognition | Competitors often out of stock |
Favorable demographic changes | Favorable economic conditions |
Favorable market conditions | Functions and features lacking in competing products |
High demand for product | High prices of competition |
Low performance of competing products | Low quality of competing products |
Poor durability of competing products | Poor reputation of competition |
Poor reviews of competing products | Poor usability of competing products |
Reduced competition | Reduced trade barriers |
Trending new styles / colors | Weak marketing of competing products |
Threats
Threats are external factors that are negative from your perspective such as the strengths of your competition.Competitors who are highly creative and fast to change | Competitors who are skilled marketers |
Competitors with a strong reputation as a good business e.g. environmental | Competitors with excellent customer service |
Competitors with good product packaging | Competitors with high quality |
Competitors with lower costs | Competitors with more marketing resources |
Competitors with more pricing power | Competitors with strong brands |
Competitors with strong customer relationships | Competitors with strong product positioning / differentiation |
Competitors with superior operational capabilities | Inflation |
New regulations | New trade barriers that inhibit your access to foreign markets |
Political disruptions | Recessions |
Reduced consumer spending | Reduced demand |
Reduced trade barriers that produce more global competition | Supply chain disruptions |
Technological / competitive disruption to your business model | Unfavorable change to customer needs |
Unfavorable demographic change |
