A SWOT analysis is a very useful tool when it comes to decision making on how to go about your business and or organizations. It is very important to examine various strengths and weaknesses so that you can only become successful against your competitors. Definition: "An overall evaluation of the company’s strengths (S), weaknesses (W), opportunities (O), and threats (T)." -Marketing: An Introduction for Education Management Corporation; pg56. In my individual project on raising awareness by filming short videos or commercials for needy organizations, I have listed my own SWOT analysis.
(Strengths): NGPStudio is a production company that takes videography to a professional level with high quality videos that captures every moment needed. Has potential to relay messages through another form of art on any topic.
(Weaknesses): Not 100% sure to get spot on local television as a commercial.
(Opportunities): Networking NGPStudio with many organizations and having a reputation of helping give back to organizations and or people in general.
(Threats): There will be other growing competition who will or may already have connections to different television stations or have already got their name out to people in need of videographers.
"Threats and opportunities assess major threats and opportunities that the product might face,
helping management to anticipate important positive or negative
developments that might have an impact on the firm and its strategies." -Marketing: An Introduction for Education Management Corporation; pg56.
Each business has it's own strengths and weaknesses. It is up to you on how to market your product. Drawing out a matrix on a board can help brainstorm ideas with your fellow partners.
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