- add to the perceived benefits for a customer
- be difficult for the competition to imitate or implement
Some questions to ask when analyzing (not compiling) your strengths:
- What are some advantages created by a strength or combination of strengths?
- What value do these strengths add to my product or service that is unique or difficult to imitate by the competition?
- Which of the four elements of marketing strategy (product, price, promotion and placement) or what combination of the four elements is driving a perceived customer benefit?
- What are the main contributors to that element?
- Does the customer value the strength or combination of strengths in the form of repurchase, loyalty, positive word of mouth, paying more or going out of their way to buy your product?
To read more on SWOT Analysis see the following post:
Using a SWOT Analysis to Develop Business Growth Strategy