How we should identifying customers needs?

How we should identifying customers needs? what is swot analysis? how we should satisfy our customers?

Customer needs can be identified by so many means like observation, record keeping of sales items, general trend analysis and systematic ways i.e marketing research.

SWOT Analysis is used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It is used by the organization so that they can highlight their complete profile. There are two aspect of this analysis; internal analysis and external analysis.

Internal analysis includes organizations Strengths and weaknesses. For example if a company has so many financial resources to survive in the market it will become its strength. If a company lacks skilled labor force, that will become its weakness.

External analysis includes environmental element which affects the organization; ‘Opportunities’ and threats outside the organization. For example, if the demand of a particular product increases in the market that will become an opportunity for the company to make that product and sale it in the market. Likewise ‘threat’ may be entrance of a competitor in the market which will increase competition in the market.