How to indicate the organisation’s strengths and weaknesses?
To indicate the organisation’s strengths, it is necessary to answer to those questions as follows:
- What advantages does your organisation have?
- What do you do better than anyone else?
- What unique or lowest-cost resources can you draw?
- What do your customers define your strengths?
- What factors support that the sales could be achieved?
- What is the organisation ‘s Unique Selling Proposition (USP)?
Weaknesses are defined as the negative internal aspects of your business that diminish the overall value of your products or services provided. It could be a lack of knowledge of promotion strategy or other Marketing mix problems. Yet, as it is an internal factor which comes from inside the organisation, it may be hard to identify and admit own weaknesses. An example of a weakness coming from the promotion strategy is that when a sales promotion lasts so long, customers may perceive negatively about the value of your products and services. Hence, it is advisable to keep the length of sales promotions reasonable to prevent default long-term overall pricing strategy.
Keep asking these following questions to identify your weaknesses when necessary:
- What could be improved?
- What should be avoided?
- What your customers and other experts in the market define as your weaknesses?
- What factors may make you lose sales?