Marketing
What gets affected Externally in the SWOT ANALYSIS (2)
Externally: Opportunities always arise, and sometimes its in the best interest of the company to jump upon them so they can use it to their advantage or even go so far as to exploit it. Threats: current and emerging external factors and changes may challenge or jepordize the company's full potential. The best way for a company to control this external factor is to always be aware of competition and be adaptable to sudden changes in the atmosphere.
What is the benefit of a SWOT ANALYSIS?
Helps with planning stages of the marketing plan. We can evaluate if objectives are attainable and explore new solutions or factors to help improve the company.
What is the GOAL of a SWOT analysis?
is to match overall strengths with arising opportunities, improve upon or eliminate weaknesses, minimize and increase awareness of threats.
What is a SWOT analysis
A SWOT analysis is the evaluation of a company's overall strengths, weaknesses, opportunities and threats.
What gets affected internally in the SWOT ANALYSIS?(2)
Internally → a company's weakness can be holding them back from reaching their goal, evaluating and recognizing it allows us to improve upon it. → a company's strengths should be well maintained and used to the company's best interest and potential.
NAME and explain the four components and their use of a SWOT ANALYSIS
THE ELEMENTS OF A SWOT ANALYSIS Strengths In a SWOT analysis, strengths describe the core competencies of a business, strategic factors that may make a certain project more likely to succeed and areas where the business may have advantages over other similar businesses. Weaknesses Weaknesses are things that can make a certain project less likely to succeed and areas where a company is particularly lacking. Opportunities Opportunities are things that have the potential to increase profits, productivity or benefit a business in some other way . Opportunities include things like changes in government regulations that make it easier for a business to make profit, unfulfilled consumer need, new markets and new technology. Recognizing and taking advantage of opportunities are important aspects of running a successful business. Threats Threats are the final element of a SWOT analysis; they have the potential to harm a business.Unfavorable changes to laws, higher taxes and changes in consumer preferences other possible threats. Identifying a threat helps the business manager to limit its impact.