How is a SWOT analysis useful to a marketing manager?

A SWOT analysis is typically used by a marketing manager to determine a product's or service's place in the market. SWOT stands for strengths, weaknesses, opportunities, and threats. The SWOT analysis typically highlights key points that address marketing needs of the product. A SWOT analysis for an outdoor property management may be as follows.

STRENGTHS:

• Few workers needed. Available at minimal cost.


• Own all tools and supplies required. No expense.


• Five years experience with property management.


• Positive reviews from past customers.

WEAKNESSES: 

• No large contracts in the past.


• Work has primarily been as subcontractor.


• Difficulties with getting employees to work on time.


• High turnover due to nature of work. 


• Focus primarily on retail business.

OPPORTUNITIES: 

• Secure contract with nursing home or other large entity.


• Obtain assignments as primary contractor.


• Enlist regular payroll employees.


• Engage community members for some projects.

THREATS:

• Four other property management businesses in same area.


• Large contractors in nursing home market.


• Expense of large equipment necessary for other projects.


• Placing competitive bids with other businesses.


• Name recognition versus larger companies.