Marketing-Lehrbuch, Kapitel 2

The SWOT analysis serves to clearly summarise the most important findings about the current situation of a company in a four-field matrix. While the internal view refers to the results of the analysis of the company's strengths and weaknesses, the external view reflects the opportunities and threats identified in the company's environment (Kaufmann, 2021, p. 289ff.). Figure 1 illustrates the four-field matrix of the SWOT analysis. The results of the SWOT matrix then serve as the basis for deriving marketing strategies, through which the strengths and opportunities are to be exploited and weaknesses and risks minimised.

A manufacturer of sports equipment (e.g. exercise bikes, rowing machines, etc.) operates in a market niche (for market segmentation with partial market coverage, see section 5.2.3). In contrast to competitors' products, the sports equipment is primarily made of wood and is characterised by an unusual design, meaning that it can also be integrated into living rooms and bedrooms. The core target group is not gyms, but consumers who value style and aesthetics in their homes. Marketing management analyses the strengths and weaknesses of its own company (internal factors) as well as the opportunities and risks of the company's environment (external factors). The results of the analysis are shown in Figure 2.

The SWOT analysis is an analysis technique that compares internal strengths and weaknesses as well as external opportunities and threats in a four-field matrix. The focus here is on the objective and most complete possible description of the initial situation. In a second step, the SWOT factors are then combined with each other in order to derive suitable marketing strategies. The main focus here is therefore on future strategic options for action or solutions to problems.

For example, the following strategic options can be derived from the SWOT matrix of the manufacturer of wooden sports equipment (see Figure 3):

• Efficient development department (strength) + trend towards greater sustainability (opportunity) → Improving the sustainability of existing and new products.
• Weak market position in the USA (weakness) + good cooperation with influencers (opportunity) → Improvement of market development in the USA through cooperation with English-speaking influencers.
• Market entry of foreign competitors (threat) + weak market position in the USA (weakness) → Cooperation with a competitor from the USA (e.g. joint venture).

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Sources:

• Kaufmann, T.: Strategy tools from practice - analysing and assessing the strategic starting position, Wiesbaden 2021.
• O.V.: SWOT analysis: Identifying strengths and weaknesses for strategic planning - a concrete example;
  https://projekte-leicht-gemacht.de/blog/methoden/projektstart/swot-analyse-beispiel/ → 4.11.2021