What does a SWOT analysis help businesses to identify?

A SWOT analysis is a strategic planning tool that helps businesses assess their internal strengths and weaknesses, as well as external opportunities and threats. By conducting a SWOT analysis, organizations can gain insights into their current market position and make informed decisions about future strategies.

Identifying strengths allows a business to leverage these advantages in competitive situations, such as unique capabilities, skilled workforce, or advantageous location. Recognizing weaknesses helps in addressing those areas that need improvement, which can enhance overall performance and competitiveness.

Opportunities present areas for growth or market entry that a business can exploit, such as emerging trends or underserved markets. Lastly, identifying threats helps organizations prepare for external challenges, such as increased competition or regulatory changes.

This holistic view is crucial for effective strategic planning, making option B the correct answer, as it encapsulates the full scope and purpose of a SWOT analysis. The other options focus on various marketing aspects but do not encompass the broader strategic evaluation that a SWOT analysis provides.