"Acronym for strengths, weaknesses, opportunities, and threats. When planning to market of a new product a company needs to embark on a SWOT analysis to assess its strengths and weaknesses (internally) and the opportunities and threats facing it (externally). Internal strengths could be a good distribution system and adequate cash flow. Weaknesses might be identified as an already extended product line or poor servicing facilities. Opportunities could be consumer demand for a particular product or the vulnerability of a competitor, while threats might be forthcoming government legislation or diversification by a competitor."
"SWOT." A Dictionary of Business and Management. Ed. Law, Jonathan. : Oxford University Press, 2009. Oxford Reference. 2009. Date Accessed 27 Aug. 2013 http://www.oxfordreference.com/view/10.1093/acref/9780199234899.001.0001/acref-9780199234899-e-6259.