Marketing 101: The SWOT Analysis

When implementing any new marketing strategy, it is important to conduct a SWOT analysis for your business. SWOT stands for strengths, weaknesses, opportunities, and threats. It is pronounced the same way as SWAT, but unfortunately it isn’t as interesting as Samuel L. Jackson in a bullet-proof vest breaking down a wall. To get a better understanding of what SWOT means, let’s expand on each topic.

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A New Kind of Synergy: Incorporating Online Marketing with an Offline Business

Many of us don’t like change. We tend to stick to the things that we know and are comfortable with. If it worked in the past, it should work now, right? Not necessarily. Whether we like it or not, times are changing. A majority of consumers find what they need on the Internet, even if it is a product that can’t be shipped through the mail.

It is much easier to find a product or service online, than it is going store to store trying to find the perfect purchase. The Internet allows customers to give feedback and recommendations about different products, which makes shopping simple. One example we can look at is the auto industry.

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A Very Small-Business Solution

How much do you pay for credit card fees per transaction? No idea? Let’s say your business uses a standard credit card processing company. You pay $0.15 per transaction, with 2000 transactions of $5 each. You just paid $300 to your credit processing company. What if you could cut that to $275? From Twitter’s co-founder comes a tiny payment tool designed to solve the problems of cost, mobility, speed, and reliability. This little gadget fits in the coin pocket of your jeans, and it deserves your attention.

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