PST, Inc. SWOT Analysis

PST, Inc. SWOT Analysis

Psychology Software Tools, Inc. is a thirty-year-old tech firm located in Sharpsburg, Pennsylvania that creates hardware and software solutions for research, assessment, and education. Their primary product, E-Prime, is a cornerstone in behavioral research and is used in labs, universities, and research facilities worldwide. The company employs less than 40 people, most of whom have been with the company for 10 years or more.

Strengths:
  • Quality Products
    • E-Prime (a product used by universities and labs for behavioral research) is top in the industry
  • Small Company
    • Offers a more intimate experience
  • Long Term Employees
    • Low turnover due to satisfied, dedicated employees
  • High Product Knowledge
    • The creators of the products also service and support the products
Weaknesses:
  • Small Company/understaffed
    • Slow turnaround time on updates and product releases… which affects competitiveness in a dynamic, rapidly advancing industry
    • Lack of product documentation (or time to create them)
Opportunities:
  • Expand fMRI product line – attend more conferences in this field
  • Optimize SEO coordinating with new website
  • Mac compatibility
Threats:
  • E-Prime competitors are lower-quality but cheaper (or free) – easier for institutions to find room in their budget
  • Other companies products are Mac compatible
  • Many initiatives are at the mercy of grant funding
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