Select a company as the subject for your situation analysis assignment. It is advantageous to select a well known medium-large sized company that readily shares information and ideally a company which you are familiar. You have been hired by your selected company as a marketing strategy consultant. After conducting research, you will record a via face-visible video, to company executives (a.k.a. your instructor). This video will focus on your SWOT analysis and also describe how the company can build on its strengths and correct its weaknesses in order to take advantage of one designated opportunity in the market. Your video should be approximately 3-5 minutes in length (it should not exceed 5 minutes or penalties will be applied).
- Step 1: Research PEST: To prepare for your SWOT analysis, consider the elements of a PEST Analysis. The PEST Analysis is useful before SWOT. The PEST Analysis assesses a market from the standpoint of a particular proposition or a business. So, you should always keep your company and industry in mind when researching the elements of the PEST Analysis. Considering the elements of a PEST Analysis will help as you prepare for your SWOT Analysis.
- Political-Legal: In the political area, you are identifying government regulations in the industry or economy, as well as legal issues in the operating environment.
- Economic: The economic portion of the PEST analysis deals with the overall health of the economy and how these factors influence company, organization, or consumer decisions.
- Social-Cultural: The social aspect of the PEST analysis includes demographic, behavioral changes and social trends and statistics, such as age, health, and population. Also include current tastes and preferences related to the industry.
- Technological: The technological factors in the PEST analysis include trends in innovation, usage of technology, technological change, as well as access to technology.
- Step 2 – Research Competitors: As you prepare for your SWOT analysis consider the elements of a Competitor Analysis. Consider factors such as… Who are the major competitors? What are the strengths and weaknesses of the top 3 competitors? What are their positioning and market shares? How does my company or its main products/services differentiate? Are there any opportunities that are not being currently offered? Researching the answers to these questions will help you better understand the strengths, weaknesses, opportunities and threats of your own business, and where it stands compared to others in the marketplace.
- Step 3: SWOT Analysis & Advice Video Report Out: Describe the company’s internal Strengths and Weaknesses and external Opportunities, and Threats. Note that you may need to discuss factors related to your PEST and Competitor Analyses however, the main subject of your video report is the SWOT Analysis information and your advice. After reporting on your businesses main strengths, weaknesses, opportunities and threats, describe how the company can build on its strengths and correct its weaknesses in order to take advantage of one opportunity in the market. See rubric for additional details.