| A | B |
|---|
| Environmental scanning | Collecting information about the environment surrounding your business |
| Opportunity | A favorable situation in the environment surrounding your business |
| S-O strategy | A marketing strategy that focuses on opportunities that are a good match with the business’s strengths |
| S-T strategy | A marketing strategy that focuses on using a business’s strengths to overcome its threats |
| W-O strategy | A marketing strategy that focuses on overcoming a business’s weaknesses so that the business can pursue opportunities |
| W-T strategy | A marketing strategy that focuses on ensuring that a business’s weaknesses don’t make it even more vulnerable to the threats it already faces |
| Strategic planning | Long-range planning (three to five years) for the company as a whole |
| SWOT matrix | Table that displays the key issues in a SWOT analysis |
