When organizations enter into a strategic planning, they conduct different types of relevant research and analysis. Marketers often talk about summarising and concluding their research and analysis in a SWOT and a TOUCE. Before we start, let us list the learning goals for this video. Firstly, the goal is to establish a connection and overview. When in the process with the SWOT and the TOUCE be conducted. Secondly, the goal is to gain an understanding of what a SWOT and a TOUCE is, why marketers use it and how we could go about conducting a useful SWOT and TOUCE. So let us begin. So what is the connection? When in the process with the SWOT and the TOUCE be conducted? Let us establish an overview. Once having established a problem or an opportunity that we wish to explore, we would do some research. We might wish to conduct both secondary and primary research, we would consider conducting qualitative and or quantitative research and use different survey types. We would check and evaluate the quality of our research data by critically applying the terms validity and reliability. The gathered data might be used in a process of conducting different analysis, internal analysis, which could include a look at the company account, current business model, core competencies and others, and external analysis, such as PEST, PORTAS 5 forces, competitor analysis and others. And ultimately, we would summarize all our research in a SWOT. This can be followed by TOUCE in order to identify several strategic options to choose between. This will enable us to make informed strategic decisions about which direction to take. The SWOT and the TOUCE is what we will address with this video. Let us use an example. This cafe is located in a large city close to a busy high street. It's called the French Cafe and it specialises in serving high quality cakes and desserts. The French Cafe is troubled by the fact that less and less customers visit the cafe and sales are decreasing as a result. The owner of the French Cafe has carried out some research and analysis in order to find out why the customers are looking elsewhere for their cakes and coffee. He is hoping that his research can help him make decisions about what to do to turn things around. Here is a short summary of the types of research and analysis the French Cafe have carried out. They have spoken to customers and suppliers. They have analysed their financial accounts and their online presence and interactions in detail. And they have also investigated their competitors. During the process they have collected vast amounts of data, both qualitative, quantitative, primary and secondary. But how do they organise and summarise all this information? They need an overview. They clearly shows what information is relevant, what is good and what is bad, and they need to distinguish between the information that described their own internal situation and which described the external environment, the world around them. This is where the SWOT comes in handy. The SWOT is like a large bucket where all the conducted research and analysis is collected. However, the information is not just thrown in at random. Instead, it is neatly organised and presented in order to provide the overview that we were looking for. Firstly, we will collect and present all the internal information that we find relevant. We will divide them into what we believe to be strengths of the French Cafe and what we believe to be their weaknesses. Let us highlight just a few of these findings. Let us start with the strengths. The analysis showed financial stability and the confectioners French and highly experienced which brings great authenticity to the cafe. Some of the weaknesses revealed by the research were a high turnover of staff which causes excessive time spent on hiring and training and the building is quite rundown which shows. Secondly, we collect and present all the external information that we find relevant. We will divide this into what can be considered as opportunities. These are external developments that we might want to take advantage of and threats. These are things that could have a negative impact on us. Some of the opportunities discovered are food tourism. An increased number of tourists actively seek out high quality food experiences and a general increase in disposable income. Some of the threats revealed are an increased focus on healthy living. This could be a threat considering the high fad and sugar content in the French Cafe's products. And locally, competition has increased considerably with many new restaurants and cafes opening up. Many more strengths and weaknesses, opportunities and threats should be included in the SWOT. But for the purpose of this video, we will deal with just these few to serve as an example. Now let us make the move from the SWOT to the TOWS. The purpose of the TOWS is to come up with possible strategic options based on the findings in the SWOT. We start by bringing in the SWOT and placing the four areas like this. Then we create four squares in the middle. These will serve as our framework for creating strategic options. Now let us see what strategic options our strengths and opportunities allow us to create. One option could be to create an offering and campaign targeted directly at food tourists. Our strength in having a highly skilled and experienced confectioner allows us to capitalise on this recent trend. Now let us see what strategic options our strengths and threats could generate. One option could be to intensify promotional activities. Our strong financial situation should provide us with the resources needed to face the threat of increasing competition. Let us move on to see what strategic options our weaknesses and opportunities could create. We could reorganise and invest in staff well-being in order to create a more consistent and positive cafe experience for our customers. If we are to take advantage of the general increase in disposable income and trends in our favour, then we will need to minimise our weakness of the poor staff retention rates. Finally, let us look at what options our weaknesses and the threats might suggest. We could carry out much needed repairs on the building or even consider moving location. If we are to face the increasing competition and appear attractive to our customers, then it could be necessary to minimise this weakness. Many more strategic options could be generated in a house, but for the purpose of this video, we have created just a few to serve as an example. So, the SWOT is a useful tool to conclude, organise and summarise our conducted research and analysis. It provides us with a good overview of what our findings mean to the French cafe. And the TOWS is a useful tool for taking the next step of generating strategic options, possible actions we can take based on our findings. We have now established a connection by showing when the SWOT and TOWS are used in a research analysis and strategic planning process. And by using an example, we have illustrated what a SWOT and a TOWS is, why they are useful tools, and ultimately we have shown how we can go about conducting a useful SWOT and TOWS. If you want to learn more about research, analysis and strategic planning, or about other marketing related subjects, then I suggest that you watch additional videos on my channel. To further support and substantiate your learning, I recommend that you read Market Research and Statistics by four or another, as well as Principles and Practice of Marketing by Jobber and Ellis Chadwick, and if you are able to read Danish, international markets foring, by role-efficient others and others. My name is Tina Wade, thank you for watching.