SWOT Analysis means a structured planning method, which is used to evaluate the strengths, weaknesses, opportunities, and threats that are involved in a project or in business venture.
- SWOT Analysis is considered as tool for auditing and its environment.
- It is the first stage of planning and helps the marketers to focus on key issues.
- SWOT stands for Strengths, Weaknesses, Opportunities and Threats.
- Strengths and Weaknesses are internal factors.
- Opportunities and threats are external factors.