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You can also take a closer look at
business environment. Often, opportunities arise as a result of a changing business environment. Some examples are:
* A new trend develops for which demand outstrips
supply of quality options. Early on,
trend toward healthy eating coupled with an insistence on good-tasting food produced a shortage of acceptable natural food alternatives, for example.
* A customer segment is becoming more predominant, but their specific needs are not being fully met by your competitors. The U.S. Hispanic population experienced this phenomenon in
late 1990’s and early 2000’s.
* A customer, competitor, or supplier goes out of business or merges with another company. With
demise of many pure-play "dot coms", examples of this abound. As each went out of business, opportunities arise to gain
defunct business’ customers.
You can also enhance a SWOT analysis through surveys. You can learn more about your own as well as competitor’s sites and businesses. Areas you can research include 1) customer awareness, interest, trial, and usage levels, 2) brand, site, and/or company image, 3) importance of different site or product attributes to your customers, and 4) product and/or site performance.
Whether using a basic or more advanced approach to SWOT analysis, you are sure to come away with newfound insights. Use these to increase your company's effectiveness and as input into your business or marketing plan.
~~~~~~~~~~~~~ Related Resources ~~~~~~~~~~~~~
* Book: Strategic Marketing Planning http://www.websitemarketingplan.com/sr.htm
* Resources: Market Research and Analysis http://www.websitemarketingplan.com/SR12.htm
* Article: Affordable Market Research http://www.websitemarketingplan.com/Arts/MktRsrch.htm

Bobette Kyle is author of "How Much For Just the Spider? Strategic Web Site Marketing." She used techniques detailed in the book to bring her own site, WebSiteMarketingPlan.com, from a ranking of 17 million to 54 thousand+ in less than four months. http://www.WebSiteMarketingPlan.com/sr.htm