SWOT Analysis - involves looking at the strengths, weaknesses, opportunities and threats for a business

Example analysis on a car:

Strengths:

• Fuel consumption
• Image
• Price

Weaknesses:

• Emissions
• Environment concerns

Threats:

• Rising cost of petrol
• Competitors
• Legislation on emissions
• Rise of electric cars

Opportunities:

• New fuel technologies
• Growing markets overseas

Uses for a business:

• Asses the current market conditions
• Assess the quality of current marketing strategies
• Useful beginning in the strategic planning process
• Can be used with other methods of forecasting to plan ahead