SWOT Analysis is a framework used to evaluate both your own product and competitors. SWOT stands for:
<ul>
<li>Strengths: What the competitor does well.</li>
<li>Weaknesses: Areas where the competitor struggles.</li>
<li>Opportunities: External factors that could be beneficial.</li>
<li>Threats: External risks that could negatively impact the business.</li>
</ul>

SWOT Analysis is only used to evaluate your own product, not competitors.

Which of the following is NOT a category in SWOT Analysis?

Breaking Down SWOT:
<ul>
<li>Strengths: Advantages a competitor has, such as brand reputation or unique features.</li>
<li>Weaknesses: Areas where a competitor struggles, like poor user experience or high pricing.</li>
<li>Opportunities: External trends or technologies that can benefit the competitor.</li>
<li>Threats: Risks that could harm the competitor, like new competition or economic downturns.</li>
</ul>

A company’s weaknesses in SWOT Analysis refer to external factors like market trends and competitor actions.

Which of the following is an example of a Strength in SWOT Analysis?

Example SWOT Analysis: Trello (Project Management App)
<ul>
<li>Strengths: Simple UI, Free plan, Large user base.</li>
<li>Weaknesses: Limited customization, Lacks advanced reporting.</li>
<li>Opportunities: Growing remote work trends, AI automation features.</li>
<li>Threats: Competitors like Asana and Notion offering more features.</li>
</ul>

One of Trello’s weaknesses in a SWOT analysis is its lack of advanced reporting.

Which of the following is an example of a Threat in SWOT Analysis?

How to Use SWOT Effectively:
<ul>
<li>Compare multiple competitors using the SWOT model.</li>
<li>Identify gaps where your product can differentiate.</li>
<li>Use insights from SWOT to refine your product roadmap.</li>
</ul>

SWOT analysis can help product managers refine their product roadmap by identifying strengths, weaknesses, opportunities, and threats.

Why is SWOT analysis useful for product managers?