MKT 100 Midterm: MKT100 Midterm

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Published on 9 Jan 2019
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SWOT Designing the Business Portfolio
SWOT analysis- identifying internal environment of strengths (S) and weaknesses
(W) as well as external opportunities (O) and threats (T).
o Helps to organize your thoughts to develop your company goals and
strategies.
SWOT analysis helps identify the strategic direction the firm should follow
A SWOT can be used to identify an organization's everyday activities to ensure
that they align with corporate strategy and to ensure they are meeting objectives
SWOT is a pretty critical tool in a marketing--
To identify an organization’s strength and weaknesses
creates a good understanding of the situation
an help make a decision to go ahead with a planned project or stop the
project all together.
A SWOT can be used for many situations including the launch of a new
product.
Forces you look internally at your own company (strength weaknesses
outside at opportunities and threats
our annual planning process
When examining internal strengths and weaknesses, marketers should focus on
three key organizational categoriesfinancial, management, and marketing
environmental scanningthe collection and interpretation of information about
forces, events, and relationships in the external environment that may affect the
future of the organization or the implementation of the marketing plan. These
are inherently uncontrollable by the firm. That is, the company neither initiates
them nor stops themrather, companies can only prepare to act upon them.
External analysis (opportunities and threats) is called an environmental scan
these are inherently uncontrollable forces and events that may affect the future
of the organization of the implementation of the marketing plan.
Environmental scanning is at its best when it foresees business opportunities and
threats at an early stage so that trends identified may be acted upon to either
make or save money.
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The five most often studied macro-environmental forces are competitive,
regulatory, economic, social, and technological.
Strategic Alternatives: Linking SWOT to Growth Strategies
•The SWOT analysis will result in themes that can take the form of alternative
growth strategies
The key element in choosing a strategic alternative is the balance analysis
of SWOT with growth strategy that comes from the analysis using the
Ansoff matrix.
weaknesses, opportunities, and threats, certain ideas will emerge in the
form of Once an organization fully identifies strengths, alternative growth
strategies.
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Selecting which alternative to pursue depends on the overall company philosophy
and culture.
SWOT Profile
o Controllable
- Internal to the company (is it about the company, is it
uncontrollable by the business, is it about the company)
- Strengths: positive, if we do it better than the competition
- Weaknesses: negative, if we do it worse than the competition
o Uncontrollable
- External to the company (is it outside the business, out of control
of the business, would the data point exist in absence of the
company)
- Opportunities: positive attributes in the marketplace
- Threats: refer to negative attributes in the marketplace
Internal (strengths and weaknesses)
o Evidence(information) to support claim
- Customers (feedback, surveys)
- Employees
- 3rd party data
o from/about Microenvironment
- capabilities
- resources (money)
- processes
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