A SWOT analysis is a business planning methodology used to compare a business, such as a flower shop, against its competitors and within its target market. "Strengths" and "Weaknesses" looks at positive and negative aspects of the business. "Opportunities" and "Threats" are external factors over which the company may have no control.
Other People Are Reading
The flower shop's strengths may include the wide range of flowers available or that the company offers free shipping on all of its orders. These are positive attributes that differentiate the company from its competitors.
Weaknesses may include higher prices than the competition or if the company has no differentiating factors. Because the company has a higher price point for its products, it may lead customers to look elsewhere for a better deal which would negatively impact sales.
The e-commerce aspects of the website of the flower shop may allow the company to sell its product beyond the local market. This provides an opportunity to reach customers and grow the business faster.
Threats are issues that might pop up, beyond the control of the company but which the company should be aware of. They may include economic factors or regulatory issues that could negatively impact revenue goals.
- 20 of the funniest online reviews ever
- 14 Biggest lies people tell in online dating sites
- Hilarious things Google thinks you're trying to search for