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An analysis is extremely essential for a marketer to spotlight the various aspects affecting business growth. The best way to depict where your business is standing among thousands of competitors is to conduct a SWOT analysis. SWOT Analysis is a model invented in the late 1960s by a management Consultant named Albert Humphrey at the Stanford Research Institute. 500 Leading companies adopted the concept for long-term strategy build-up and planning at that time. Today, almost all the companies - Established or Start-ups prefer conducting a SWOT analysis. But, yet, they aren't aware of the real details and its application versatility.

Idea generation is often called the 'fuzzy front end' of the new product development process. A million dollar business, a successful website, a blockbuster movie and a top-selling product all have one thing in common: they begin with a great idea.