A SWOT is an important tool in evaluating an organization, business or person and its environment: both internally (Strengths and Weaknesses) and externally (Opportunities and Threats).
As a hotelier in the Sales and Marketing field, SWOT worked as a foundation tool for our marketing plans, budgets, Food &Beverage promotions, rates revision, branding and positioning.
A Strength could be your USP's (Unique Selling Propositions), Brand Name, Location, History, Quality of Staff / Service, Ambience, Quality of Food Served, Facilities provided to clients.
A Weakness could be the Location of the property, damaged Reputation, Poor Training, Grooming Standards, Age of the property, Poor Maintenance, Undifferentiated Product or Service compared to your competitor, lack of Marketing Expertise.
An Opportunity could be a Developing Market like the internet / Networking, The Socio-Economic situation of the country, Life Style of local residents, Disposable Income, a new International Market, market vacated by a weak competitor, Mergers, Joint Ventures and Strategic Alliances.
A Threat could be new entrants in the market, new markets being developed, staff turnover, price wars with competitors, new taxation, competitors have superior channels of distribution.
So, good luck with your next Marketing Plan!
