Marketing, Chapter 4

Southwest airlines

And example of a strategy canvas is blank company being good at friendly service, speed, and frequent departures

Internal and external. Direction

SWOT analysis encompasses both the blank and blank environments of the firm. It provides blank for the development of viable marketing plans

Development of a strategic focus for the firms marketing efforts

SWOT analysis helps the marketing manager transition from a broad understanding of the markets environment to the

The firm can create lists without serious consideration for the issues. It often becomes a sterile academic exercise a class fine data

The two most common criticisms against the SWOT analysis are

An assessment of what could change in the environment that might transform current Strank's into weaknesses in current weaknesses and strengths

Upside down thinking is defined as

Aggressive, diversification, turnaround, defensive

Using SWOT analysis as a guide, a firm might consider four general directions for a strategic efforts

Focuses on building long-term relationships and understanding your customers needs better than competition. Netflix or Ritz Carlton

What does customer intimacy strategy focus on? Example

Focus on efficiency of operations and processes. Walmart operates at lower cost to offer lower prices

What does operational excellence strategy focus on? Example

Focus on excelling at technology and product development. Microsoft with the surface pro

What does product leader ship strategy focus on? Example

The current state of business based on known facts and information.

Right side up thinking is defined as

Visually evaluate each element of the SWOT analysis. Quantify the magnitude of each element on a scale of 1 to 3 for strength/opportunities and -1 to -3 for weaknesses and strengths. Rate the importance of each element on a scale of 1 to 3. Multiply the magnitude by the importance for a total rating

A SWOT matrix helps to blank. What are the three steps

Strategy canvas. Blue ocean strategy book

A blank is a tool for visualizing a firm strategy relative to other firms in a given industry. This was developed in the book blank

Strategic focus

At the conclusion of the SWOT analysis, the marketing manager must work toward establishing a blank

One

The most successful firms choose blank number of strategies to excel at

It focuses on the information exchange between different functional areas

Collaboration is a benefit of SWOT analysis because

Perception

Competitive advantages can refer to real differences between competing firms or they can be based more on blank

Firms can downsize their strategy planning departments

Decreased costs is a benefit of SWOT analysis because

Many internal weaknesses in many external threats. Overwhelmed by internal and extra problems in filing for bankruptcy. RadioShack

Define a defensive direction for strategic efforts

Many internal strengths many external threats. Have a great deal to offer but external factors week in the ability to pursue. Tobacco companies

Define a diversification direction for strategic efforts

Many internal weaknesses in many external opportunities. Too many internal problems where they need to get their own house in order. GM

Define a turnaround direction for strategic efforts

Many internal strengths and many external opportunities. Expand and grow with new products in new markets. And example is a Google

Define an aggressive direction for strategic efforts

Tangible and intangible resources

Every organization can be considered a unique bundle of blank and blank resources

Simplicity, decreases costs, flexibility, integration and synthesis, collaboration

Five major benefits of SWOT analysis

It can enhance the quality of the organization strategic planning without extensive information systems

Flexibility is a benefit of SWOT analysis because

Attainable, consistent, comprehensive, involve some degree of intangibility

Goals should have these four characteristics

Strength and weaknesses. Opportunities and threats.

In the SWOT analysis, what a firm can and cannot do is described in these two areas. The environmental conditions working for and against the firm are in these areas.

Customer perceptions. Greatest influence

In the SWOT matrix, the magnitude and importance reading should be heavily influenced by blank perceptions. The elements with the highest total ratings should have the blank in developing the marketing strategy

Exhaustively

In the initial stages of swat analysis it is important to identify Issues blank

It integrates new and old information from a variety of sources

Integration is a benefit of SWOT analysis because

Operational excellence, product leadership, customer intimacy

Many successful firms have developed capabilities and competitive advantages based on one of the three basic strategies

Resources

Most often than not, the cause of each issue in a SWOT analysis can be found in the blank possessed by the firm or its competitors

Measurable, quantitative outcomes. Attain ability, continuity, timeframe, assignment of responsibility

Objectives involve blank, blank outcomes. These are therefore characteristics

A laser like focus on customer needs

One thing that all innovative companies have in common is

Functional area of the firm

Organizational goals and objectives must lead to the establishment of consistent goals and objectives for each blank

Utilizing the idea of upside down thinking and applying it to a firms competitors. The process looks at competitors strengths and weaknesses with a goal of identifying areas where competitive advantage can begin by flipping the strengths and weaknesses of others

Outside in thinking is defined as

Stay focused, search extensively for competitors, collaborate with other functional areas, examine issues from the customer perspective, look for causes not characteristics, separate internal from external issues, adopt a disruptive mindset

Seven directions for a productive swat analysis

it requires no extensive training to be used successfully

Simplicity is a benefit of SWOT analysis because

Resources

Strengths and weaknesses exist either because of the blank possessed or not possessed by the firm

A customer need. A capability

Strengths are meaningful only when they satisfy a blank. When this is the case, the strength becomes a blank

Right side up

The basis of swat analysis uses blank thinking

Strategic competitive advantages

The marketing manager can develop marketing strategies that leverage capabilities in the form of