Marketing: Swot Analysis

MKT 301

Marketing Plan: SWOT Analysis

This is a SWOT analysis for a fictitious firm based near Atlanta, GA called My Payroll Services. It provides payroll processing services for small to mid-size companies around the Atlanta, GA area on a weekly, bi-weekly and monthly schedules. It is new, and is owned and locally operated by a retired payroll specialist.

INTERNAL |

Strengths | Weaknesses |

Locally trusted business- member of the Atlanta Chamber of Commerce | Low range of operation and not know outside the Atlanta area |

High demand amongst retired business owners | Not know amongst other new businesses |

Services in wage and Salary Administration | Lack of skilled staff |

Word of Mouth referrals | New in Business |

Financially leverage | Weak Management team |

Existing Customer loyalty | High Financial debt burden |

Discount incentives | |

In each of the cases above the firm has some, and in many cases a good deal, of control over the issue

EXTERNAL |

Opportunities | Threats |

Market is fragmented | Fragile economy |

Innovation and Software web updates | Very intense and growing competitions |

Growing technology in payroll | Government and IRS regulations |

Payroll laws and policies for no overtime above 40hrs | Price wars |

Out souring of payroll by other businesses | Taxation and licensing requirements |

Most businesses do not do payroll because of lack of time to do payroll, lack of staff and no real knowledge of payroll | |

For each of the cases above, the firm has little control regarding the issue; however, the firm can still respond to the issue.

SWOT Conclusion

Strengths and Opportunities = 13

Threats and Weakness = 11