Swot Analysis of Lux
SWOT analysis is a basic, straightforward model that provides directionand serves as a basis for the development of marketing plans. Itaccomplishes this by assessing an organizations strengths (what anorganization can do) and weaknesses (what an organization cannot do) inaddition to opportunities (potential favorable conditions for an organization)and threats (potential unfavorable conditions for an organization). SWOTanalysis is an important step in planning and its value is oftenunderestimated despite the simplicity in creation. The role of SWOTanalysis is to take the information from the environmental analysis andseparate it into internal issues (strengths and weaknesses) and externalissues (opportunities and threats). Once this is completed, SWOT analysisdetermines if the information indicates something that will assist the firm inaccomplishing its objectives (a strength or op nternal Analysis - The internal analysis is a comprehensive evaluation of the internal environment's potential strengths and weaknesses. Factorsshould be evaluated across the organization in areas such as: y Company culture, image y Organizational structure y Key staff y Access to natural resources y Position on the experience curve
Y
External Analysis
- An opportunity is the chance to introduce a newproduct or service that can generate superior returns. Opportunities canarise when changes occur in the external environment. Many of thesechanges can be perceived as threats to the market position of existingproducts and may necessitate a change in product specifications or thedevelopment of new products in order for the firm to remain competitive.Changes in the external environment may be related to: y Customers y Competitors y Market trends y Suppliers y Partners y Social changes y New technology y Economic / Political environmen Operational efficiency, capacity y Brand awareness y Market share
y
Y
External Analysis
- An opportunity is the chance to introduce a newproduct or service that can generate superior returns. Opportunities canarise when changes occur in the external environment. Many of thesechanges can be perceived as threats to the market position of existingproducts and may necessitate a change in product specifications or thedevelopment of new products in order for the firm to remain competitive.Changes in the external environment may be related to: y Customers y Competitors y Market trends y Suppliers y Partners y Social changes y New technology y Economic / Political environmen Operational efficiency, capacity y Brand awareness y Market share
y