“A TOWS analysis will look to match internal factors to external factors help identify relevant strategic options that an organisation could pursue. It can help an organisation to see how it can take advantage of opportunities, reduce threats, overcome weaknesses and exploit any strengths.” (Oxford College of Marketing Blog, 2020)
| Threats -Competitors -Welfare standards -Politics (BREXIT) -Trading -Vegan (no leather) | Opportunities -Products outside of equine -Sponsorship for events -Own shop | |
| Weakness’s -Expensive -Limited range of products -No customised products | -Go to competitors as they do similar product for better value -Expand to non- leather riding boots | -Sponsor grassroot riders to help develop cheaper range of rider wear |
| Strengths -Cover lots of disciplines In lots of stores -International company -Good quality products | -Wider range of products compared to competitors -With them being an international company, trading prices may increase | -Sponsor events anywhere around world due to them being international -Own shop would be in high demand due to covering lots of disciplines and already having a large number of stockists |
A TOWS matrix is a variation of SWOT analysis, it is “A distillation of the findings of the internal and external audits which draws attention to the critical organisational strengths and weaknesses and the opportunities and threats facing the company” (Kotler et al 2005). It is more strategic and analytical than a SWOT analysis due to the fact that TOWS considers strengths and weaknesses within the context of the factors that generate opportunity and threat.
The TOWS analysis is important as it allows companies to develop and maintain the competitive strategy, however it is vital that the analysis is created in the correct pattern in order for the matrix to be largely successful.
References:
Kotler et al 2005
ariatmarketing.business.blog 