Examples of SWOT Analysis
Swot Analysis is used by the companies in order to evaluate the current competitive position of the company in the market and the example of which includes SWOT analysis conducted by the newly opened bakery shop in the town to know its strengths, weaknesses, opportunities and threats i.e., its current competitive position in the market.
The following Swot analysis examples provide an outline of the most common SWOT Analysis. It is impossible to provide a complete set of examples that address every variation in every situation since there are thousands of such situations where SWOT Analysis could be done. Each example of the SWOT Analysis (business or personal) states the topic, the relevant reasons, and additional comments as needed).
Example #1 – SWOT Analysis of a Business (Apple Inc)
Let us now look at the example of SWOT analysis of a business
- Every user of an Apple device takes pride in owning it due to its strong brand image, popularity, and performance that has been entrusted over the years. It is one of the strongest and most valued brands in the world.
- Providing premium devices across product lines comes at a price that allows a higher profit margin per device.
- Innovation in every new device that is launched makes the product most sought after.
- Apple devices are priced very higher than its competitors, the iPhones cost over 1 grand apiece. Although the sale dependency is on the middle and high-income brackets, the customers in the lower-income brackets are kept at bay due to its high pricing.
- Apple does not have a commendable distribution network. The company selects all the authorized sellers for its products and as a result, there are not many at the international level. As a result, the market reach is limited to a number of authorized sellers.
- Since Apple products are sold at a higher price the customer base is limited to the middle and the high-income brackets thereby restricting the low-income bracket customers which form the majority of the population.
- Apple is the most sought after brand in mobile phones and laptop segment. The rising demand for mobile phones will help in increased sales volumes.
- The distribution network can be enhanced and increased. Apple needs to put in more of their authorized sellers across the globe to allow more and more customers to consider buying an Apple device since there is an authorized seller in the vicinity.
- Apple needs to lay its hands on new product lines. All its current products are a hit in the market and adding new products to the lineup would give a boost to its revenue along with increased brand equity.
- First and foremost – competition. The market today has cut-throat competition in terms of the technology and the after-sales services provided. The competitors provide almost the same technology to the customers at a very economical rate. The low-income bracket which comprises the major portion of the market tends to go for what the competitors have to offer at an economical price.
- Appropriation of the innovation by local brands that copy the design and look of the products of Apple.
- An increase in the cost of labor across the globe has resulted in narrowed profits which in turn has triggered an increase in the selling price.
Example #2 – Personal SWOT Analysis
Let us now look at the example of a personal SWOT analysis.
Let’s assume that Steve Rogers is a Marketing Manager for a leading marketing firm. Steve’s doing great in his current role but he feels that his performance can be better. How would a SWOT analysis look like?
- Creativity is something I can boast about. My habit of looking at the broader picture helps me to devise various perspectives on the betterment of any client’s brand.
- I have a knack to communicate with my team and the clients alike.
- The ability to think and ask questions helps me in identifying the best marketing strategy.
- Client-centric attitude has resulted in the success of all previous assignments thereby earning the trust and faith of the clients
- When I have too much on my plate, I tend to be in a haste to clear my ‘to do’ list since I want everything to be delivered before the deadline. This usually results in a compromise in the quality of my work.
- Prioritization of my tasks is something that I need to improve on, because whenever there are things that have the same level of urgency; I am unable to prioritize what task to complete first and what to do last.
- Due to my habit of delivering before time, I get stressed out due to the work volumes and the limited time.
- A major competitor has suffered reputational damage as a result of their poor service to smaller clients.
- I will be attending one of the most awaited marketing conferences in the marketing industry. This will be an opportunity for me to meet new people and enhance my networking.
- The marketing head is due for maternity leave soon. It would be a learning opportunity for me to understand her work and take over her task while she is on leave.
- My colleague Bucky Barnes has a much better style of delivery on the communication side. Bucky is in competition with me for the next level.
- The business performance across the industry is not favorable due to the current global economic situation. This has resulted in the slow growth of the business which results in businesses cutting off staffs. Many businesses including my firm are planning further layoffs.
- Due to layoffs, there is an increased workload which has negatively impacted my creativity.
This analysis helps Steve in understanding the current situation and encourages himself to approach his colleague Bucky about the marketing head’s maternity leave that’s around the corner. Steve suggests that both of them could cover their boss’s duties. Bucky concurs to Steve’s idea and acknowledges that even though he has an upper hand when it comes to presenting an idea, it is Steve’s creativity that has impressed Bucky the most.
This act of working as a team has made them serve their smaller clients in an effective and impressive manner. This, in turn, gives them an advantage over their competitor’s flaws in customer service.
- It is a powerful tool that helps us identify the strengths, work on the weaknesses, capitalize on the opportunities and mitigate the threats.
- SWOT analysis examples above provide gives a clear picture of the business and personal situations.
This has been a guide to SWOT Analysis Examples. Here we will provide you a detailed explanation with examples of business and personal SWOT Analysis. You can learn more about finance from the following articles –