W: 5 PESTLE and SWOT Analysis

Perform market research

It is an estimation of the possible size and characteristics of customers or firms who could be buying your product

Analyze the Industry

Is a study of an industry’s current scope and the types of products being provided

SWOT analysis

is used to determine your internal abilities as well as external factors that may impact your performance.

Strengths, weaknesses, opportunities and threats

Acronym of SWOT

SWOT analysis

Tool for auditing an organization and its environment

SWOT analysis

First stage of planning and helps marketers to focus on key issues

Internal factors

Strengths & weaknesses =

External Factors

Opportunities & Threats =

Weaknesses

Are the factors which do not meet the standards we feel they should meet. They must be minimized and eliminated

Strengths

Beneficial aspect of the organization or the capabilities of an organization.

Opportunities

Chances to make greater profits in the environment - external attractive factors that represent the reason for an organization to exist & develop.

Threats

External elements in the environment that could cause trouble for the business - it is beyond organization’s control, which could place the organization’s mission at risk.

PESTEL

A complementary tool to SWOT, expands on the analysis of external context by looking in detail at specific types of issues that frequently have an impact on implementation of project/initiatives.

PESTEL

_____ involves identifying the factors in each of these six domains that are relevant for the project being considered

Politcal, economic, social, technological, environmental and legal

Acronym of PESTEL