SWOT analyses can have a significant impact on new product selection or development. Specifically, they provide a clear framework to analyze strengths, weaknesses, opportunities, & weaknesses. As well, they can provide essential information or evidence for necessary change to be implemented to the product as well as serve as motivation to further analyze and/or pursue noteworthy or significant strengths, weaknesses, opportunities, and threats. Conversely, SWOT analyses do not prioritize findings and nor do they provide an analysis of specific findings as they often focus on the specifics. Albeit important to identify such findings, the challenge often lies with the prioritization and undertaking of acting on such findings which can directly impact the success or failure of a product. [continues]
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