Use SWOT analysis to draw out the strengths, weaknesses, opportunities and threats affecting Tesco.
SWOT Analysis - Strengths
Begin your SWOT analysis by producing a picture of Tesco's strengths using strategic marketing reports and other business resources. Specific analysis techniques to employ:
- From the earliest stages of your research, generate an ongoing SWOT analysis diagram of Tesco's strengths, weaknesses, opportunities and threats. This will act like a mind map and brain storming tool that can lead you to ask more questions and generate more ideas than an unwieldy set of rough notes. Also, by the end of the process, you will have a diagram that could not fail to impress clients!
- Visit a Tesco store and look for strengths in Tesco's direct marketing. Compare Tesco with other stores. As questions like: Does Tesco have the best product line? Which supermarket group has the the best advertising?
- Look at SWOT analysis case studies for Tesco, and for other companies. These can be found offline and online. Find online sources by pursuing a Google search. For offline sources of information use your local university and public libraries and ask for help from the librarians in finding what you need.
SWOT Analysis - Weaknesses
In performing a SWOT analysis of Tesco's weaknesses, think about the weaknesses that other companies share with Tesco. For instance, comparing Tesco with British Airways might get you thinking about how dependent Tesco is on the UK market (73.8% of 2003 revenues.) Comparing Tesco with Amazon might reveal flaws in its attempts to move into new markets.
SWOT Analysis - Opportunities
Some of Tesco's main opportunities are on the internet. Look at the Tesco website, and compare it to the opposition. Ask yourself: What opportunities is Tesco missing? Which opportunities are Tesco exploiting? For instance, compare tesco.com and amazon.com. How do the prices of books compare? Which site has the best features? What opportunities can Tesco take that Amazon might be missing?
SWOT Analysis - Threats
Having already investigated the strengths, weaknesses and opportunities facing Tesco you should have some good ideas about the threats facing it. Concentrate especially on strategic planning to counter threats from other companies. For instance, investigate how Tesco's financial products compare with those from more established providers. A SWOT analysis of Tesco must consider all the competition in detail.