February 21, 2013 at 8:48 AM
By James Glover
Once a Day Marketing
James Glover, That Branding Guy, provides the inspiration and ideas for you to build more mindshare and capture marketshare with your customers in his Once a Day Marketing blog. Tune in often to his short, entertaining and practical marketing and branding tips and watch your organization become more successful and profitable.
Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™. Today is Recon Thursday where I have you review your brand, industry and competition.
In my opinion, one of the best tools to accomplish this is through a SWOT analysis. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. There is a large body of information available regarding how to perform your SWOT analysis.
This exercise is important because of the findings you may uncover. When you know your strengths, you can utilize them to strategically capture market share. Likewise, knowing your weaknesses enables you to shore them up before your competition tries to take advantage of them.
Identifying opportunities allows you to prioritize each one and allocate appropriate resource to benefit your brand and company. Lastly, understanding threats will allow you to develop contingency plans in the event a threat actually materializes.
Watch our Once a Day Marketing™ video to learn more: Understanding SWOT Analysis
Once a Day Marketing™ positions brands to become #1 in the minds of target customers. Visit our website at www.onceadaymarketing.com. You may also contact James Glover at (505) 501-1330 or email firstname.lastname@example.org
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