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SWOT Analysis
veryday our !usiness is "aced #ith ne# challenges$ strengths$ #eaknesses$ o%%ortunities
and threats& The good thing is #hat ha%%ens to !e a threat "or our com%etitor could turn
into a golden o%%ortunity "or us& All #e need to do is kee% our eyes o%en and take the
right action'
S()T Analysis *Strengths$ (eaknesses$ )%%ortunities$ and Threats+ is also kno#n as
T)(S analysis& S()T Analysis is a %o#er"ul techni,ue to thro# light on your !usiness
%ossi!ilities& S()T Analysis hel%s you chisel out your strategies in a more streamlined
manner and create a niche in the market&
Outsource2india can help you conduct a SWOT analysis to help give your business a
more strategic focus.
Strengths
(hat do %eo%le in your market see as your strengths-
(hat advantages does your com%any have-
(hat do you do !etter than your com%etitors-
(hat uni,ue or lo#est.cost resources do you have access to-
/ook at your strengths in the conte0t o" the com%etition& I" you are com%aring your
%roduct #ith a com%etitor #ho has a large share o" the market$ your o#n large share o"
the market is not strength !ut a necessity&
What are your strengths?
Weaknesses
(hat should you avoid-
(hat could you im%rove-
(hat are %eo%le in your market likely to see as #eaknesses-
1ou might need to get into your customers2 or com%etitors2 shoes to check i" there are
#eaknesses that they %erceive !ut you overlooked& It is more an internal versus an
e0ternal vie#&
How could you turn your weaknesses into strengths? First find out what your weaknesses
are, with Outsource2india's SWOT analysis.
Opportunities
(here are the good o%%ortunities your com%any could leverage-
(hat are the interesting and %romising trends you are a#are o"-
)%%ortunities could come your #ay through3
Changes in the technology you use
Changes in the market
Changes in government %olicies that are relevant to your !usiness
Changes in your target audience such as li"estyle
vents in your industry
1ou can discover ne# o%%ortunities !y analy4ing your strengths& 1ou could also look at
your #eaknesses and think a!out the %otential o%%ortunities o%ening u% i" you eliminate
your #eaknesses&
Eciting o!!ortunities are co"ing your way with O2#'s SWOT analysis.
Threats:
(hat o!stacles do you "ace-
(hat is your com%etition doing-
Is changing technology threatening your %osition-
5o you have !ad de!t or cash."lo# %ro!lems-
Could any o" your #eaknesses seriously threaten your !usiness-
Are the re,uired s%eci"ications "or your 6o!$ %roducts or services changing-
Such analysis #ill o"ten thro# light on the "uture course o" action$ !oth in terms o"
%utting %ro!lems into %ers%ective and %ointing out #hat needs to !e done&
Strengths and (eaknesses are internal and )%%ortunities and Threats relate to e0ternal
"actors& Can you see the threats you could avoid- /et )7I shine the light on them so you
can take corrective measures&
Qualitative research methods are conducted among a small sam%le si4e o" %artici%ants&
Qualitative market research com%anies strive to understand the de%ths and range o" !uyer
attitudes and !elie"s$ and don8t usually contain any strong measura!le %arameters&
Qualitative marketing research methods "ind a%%lication in ans#ering these !road
,uestions3
Ho# "ar is my customer satis"ied #ith my %roduct or service-
Ho# %o#er"ul is my com%any8s !rand in the market-
(hat segments o" the market %rovide the most sales revenue-
Ho# can I "ind %otential customers in a market "or a ne# %roduct or service-
Ho# much do I kno# a!out my customers8 !uying !ehavior and %erce%tions
to#ards my %roduct 9 service-
)utsource7india has #orked #ith com%anies across the glo!e in creating %otent
,ualitative market research assignments that ena!le them to understand their customers
!etter& Based on your goals #e can custom design a research %rogram "or your !usiness&
Qualitative market research services from
Qualitative research can !e conducted in a "ocus grou% or one.on.one$ !ased on the
nature o" the research assignment& (e incor%orate %o#er"ul online surveys that %ro!e the
various %erce%tions o" a customer& (e use the "ollo#ing research methods to collate data3
1. Web based surveys
)nline surveys are a chea%er alternative to a "ield survey$ !ut have e,ual e""ectiveness in
gathering data& (e design survey ,uestionnaires that are !ased on the nature o" the
!usiness %ro6ect and attuned to your market conditions& The data is ca%tured through
channels such as emails and survey #e!sites&
2. Online focus groups
)nline "ocus grou%s are an innovative conce%t that involves a discussion o" %artici%ants
in a #e!.!ased virtual chat room at the com"ort o" their homes& Partici%ants need to only
have a PC and an internet connection along #ith s%ecial so"t#are to ena!le
communication among various %artici%ants o" the "ocus grou%& The entire session can !e
recorded and transcri!ed "or you to later revie# it& 1ou could also have a moderator #ho
monitors the discussions& )nline "ocus grou%s can also have audio 9 video using #e!
cams and Instant Messaging tools&
3. One-on-one in-depth interviews
)ne.on.one intervie#s are designed to go in.de%th into the !uying !ehavior o" a
customer& Partici%ants can !e chosen !ased on the various customer or market segments&
They can !e intervie#ed online or through interactive surveys& (hen used in con6unction
#ith "ocus grou%s they can give you the %ersonal ha!its o" customers that you can later
incor%orate into your marketing strategy&
. !ar"et research observation #ethods
This method involves o!serving a res%ondent in their natural environment& This can !e
used !y so"t#are %roduct com%anies #ho #ish to understand usage %atterns o" a
customer: this can hel% in kno#ing the "allacies 9 advantages o" a %roduct& It can also
include ethnogra%hy and %hoto.ethnogra%hy #here customers or %ros%ects record actual
!ehaviors through notes and also %artici%ate in "ollo#.u% intervie#s&
Qualitative research can !e a %o#er"ul tool to reveal hidden !uying and usage ha!its o"
customers& This can not only sho# ho# they %erceive your %roduct or service !ut also
gives you an o%%ortunity to customi4e your o""ering to match their emotional needs&
)utsource7india can %rovide #ith a lo# cost #ay o" conducting a success"ul ,ualitative
market research cam%aign #ithout com%romising on ,uality&
Quantitative market research services from
Outsource2india
In all our market research %ro6ects$ our initial o!6ective is to understand the high level
goals o" the customer and the %riorities o" the research e0ercise& This ena!les us to design
an e""ective methodology to collect and analy4e data& (e have ado%ted the "ollo#ing
%rocess in our ,uantitative market research services3
;& Defining the problem: Here the o!6ective o" #hy the research is !eing conducted
is derived and the %ro!lem statement is de"ined& All su!se,uent activities "ollo#
the goal*s+ and are accordingly e0ecuted&
7& Designing the research plan: A detailed research %lan is dra#n$ #hich com%rises
the target audience "or the research$ and the tools needed& The research %lan varies
#ith each research %ro6ect&
<& Data collection: This is the most im%ortant ste% in the ,uantitative market
research %rocess& These are the main methods "or collecting data3
o Online research
By using various online sources such as #e!sites and %u!licly availa!le
research re%orts$ #e collect data !ased on the various %arameters set in the
initial stages o" the research& )utsource7india has e0tensive e0%erience in
mining "or data "rom across various industries through channels&
o Telephonic intervies
(e can conduct tele%honic intervie#s o" the sam%le o" the research study:
intervie#s over the tele%hone are a chea%er o%tion #hen com%ared to in.
%erson intervie#s or "ield studies& They can !e a%%lied to all sam%le si4es
in a research assignment&
o !mail surve"s
mail surveys are chea% yet cost e""ective #hile collecting data "rom a
large sam%le si4e& The survey cam%aign can !e designed in such a #ay as
to ma0imi4e res%onse and can !e s%read over a %eriod o" time& (e utili4e
advanced email cam%aign and collection tools to ca%ture data&
=& #nformation anal"sis: The collected in"ormation is then su!6ected to statistical
analyses such as Regression analysis$ A>)?A$ Cross ta!ulation etc& This
%rovides "indings into various relationshi%s in the collected data&
@& Reporting: The "inal stage o" the research %rocess involves %resenting the
in"ormation in gra%hs$ charts and sel".e0%lanatory ta!les& These are intended to
hel% the end.user o" the research re%ort to assimilate the "indings o" the research
%ro6ect easily&
Though #e have #orked #ith com%anies o" all si4es in their research needs$ #e also
s%eciali4e in small !usiness market research& Based on your !usiness goals and the goals
o" a market research %rogram$ a #ell structured research %lan is dra#n and meticulously
e0ecuted& )utsource7india8s !usiness market research services cover these !road areas o"
a%%lication3
>e# %roduct develo%ment
Financial research
Com%etitor analysis
Marketing research
Brand e,uity and %ositioning study
Pharma research
Market %ro"iling
Market "easi!ility study
S()T analysis
Market research process
;& Defining the ob$ective of the research pro$ect: The "irst ste% o" the research
%rocess is to de"ine the goals o" the %ro6ect& Further activities are %lanned !ased
on the goals&
7& Research plan design: A detailed research %lan is designed$ #hich constitutes the
target market *sam%le+$ the data collection methods$ the duration and the
%ersonnel needed&
<& Data collection: 5ata is collected "rom the target audience through means such as
,uestionnaires$ e.mails$ online surveys$ online "ocus grou%s and "ield surveys&
The means o" data collection de%end on the nature and sco%e o" the %ro6ect& The
collected in"ormation is stored in a data!ase #hich is "urther used "or analysis&
=& %nal"sis: Asing statistical methods such as Regression analysis$ A>)?A$ Cross
ta!ulation #ith tools such as SPSS$ the collated data is tested on all "ronts& This
%rovides "indings into various relationshi%s and insights into the collected data&
@& &resentation: The "inal stage o" the research %rocess involves %resenting the
in"ormation in gra%hs$ charts and sel".e0%lanatory ta!les& These are intended to
hel% the end.user o" the research re%ort to assimilate the "indings o" the research
%ro6ect easily&