Hi LukeIn the book IGCSE Business Studies page 253, Activity 16.4, I am asked to carry out a SWOT analysis on a product of my choice. I was just wondering – does this have to be an existing product, or can the product be fictional?
You may use either a real product or a fictional one. This should be fine so long as your layout is correct; the strengths, weaknesses, opportunities and threats are realistic for the type of product used; and you use business-related terminology.
A common mistake with the SWOT analysis: it can be easy to confuse the internal/external nature of the SWOT elements. Remember that strengths and weaknesses relate to the internal situation of the business, whilst opportunities and threats are external of the business and thus tend to be more out of the control of the firm.
For more on this, check out this link: http://www.dineshbakshi.com/igcse-business-studies/marketing/revision-notes/801-swot-analysis
There are also some helpful slides here: http://www.tutor2u.net/blog/index.php/business-studies/comments/revision-presentation-swot-analysis