Evaluating the Competition

SWOT stands for which of the following?

• Strategy, work ethic, optimism, tolerance

• Strengths, weaknesses, opportunities, threats

• Selling, web presence, overcoming objections, telemarketing

• Segmentation, workflow, orientation, targeting

A company building houses determined the cost of the bricks they use is increasing by 20 percent. This is an example of which of the following?

• Strength

• Opportunity

• Weakness

• Threat

A company selling umbrellas discovered the area is expecting increased rain this season. This is an example of which of the following?

• Strength

• Opportunity

• Weakness

• Threat

An office supply store has developed loyal, mutually beneficial relationships with many other businesses in its area, some of which are customers. This is an example of which of the following?

• Strength

• Opportunity

• Weakness

• Threat

A retailer hired sales people who are not experienced or knowledgeable about the company’s products. This is an example of which of the following?

• Strength

• Opportunity

• Weakness

• Threat

The first steps management should consider determining the feasibility of a new project or expansion project is to determine:

• Internal opportunities and threats.

• External weaknesses and opportunities.

• Internal strengths and weaknesses.

• External strengths and threats.

Jessica has just conducted a SWOT analysis of her firm. What should her next steps be?

• Making sure that weaknesses are offset by the strengths and threats are turned into opportunities.

• Making sure that weaknesses are offset by opportunities and threats are turned into strengths.

• Making sure that strengths are offset by weaknesses and opportunities and turned into threats.

• Making sure that opportunities are offset by threats and strengths are turned into weaknesses.

Why is environmental scanning used in marketing?

• To determine the feasibility of a marketing strategy based on its potential to damage the environment.

• To determine what strengths a company has that can be used to positively affect the environment.

• To analyze the overall marketing environment, including the economy, political, and technological changes.

• To determine how to market products specifically to a more liberal populace and supporters of green energy.

Why is it important for companies to evaluate managerial decisions using a SWOT Analysis?

• It analyzes strengths, weaknesses, obligations, and threats.

• It analyzes strengths, weaknesses, opportunities, and time.

• It analyzes strong points, weak points, opportunities, and threats

• It analyzes strengths, weaknesses, opportunities, and threats.

Why is a unique selling proposition important for a company?

• It is when a company has a margin of profitability higher than 25%.

• It is something that a company is very good at, but their competition is not.

• It is something a company has that is the same as that of their competition.

• It is a product that provides a company with a competitive advantage over their competition.