SEM2 4.05

SWOT analysis is a technique for summarizing which components of a company?

• Strengths, weaknesses, opportunities, and threats

• Skills, workers, organizations, and teams

• Strategy, wholesalers, objectives, and trademarks

• Store, warranty, occupations, and tariffs

Which is a factor that new businesses consider when conducting an analysis of competitors in a specific market?

• Product quality and price

• Size and availability of space

• Cost of supplies and equipment

• Industry research and training

What do businesses often take into consideration when forecasting sales for marketing plans?

• Company’s profit goals

• Quotas for salespeople

• Location of regional territories

• Competitors’ market share

Which is an activity that a business performs when conducting a competitive analysis?

• Sets productivity goals

• Monitors marketing strategies of rivals

• Calculates economic data

• Develops selling procedures

Businesses usually analyze market potential for a certain product by considering total demand for which component?

• Research sample

• Day of the week

• Geographical area

• Social situation

A SWOT analysis indicates that the buying preferences are changing, but the business has a very limited product line. This is an example of which situation?

• Internal weakness compensating for an external threat.

• Internal strength responding to an external threat.

• External threat attacking an internal weakness.

• External opportunity coinciding with an internal strength.

An important step in the process of developing a marketing plan involves selecting which component?

• Distribution agent

• Target market

• Sales force

• Research strategy

In which situation might a business decide that the cost of implementing a marketing plan for a specific product is much greater than the financial benefits?

• Advertising rates are increasing slightly.

• Level of profitability will remain the same.

• Two competitors have 65% of current market share.

• Target market buys $500,000 worth of product each year.

By conducting a competitive analysis, businesses often are able to determine if they have which attribute?

• A competitive advantage

• A target market

• A promotional plan

• A security problem

The marketing strategy of a marketing plan should include which component?

• Proposed annual budget

• Explanation of accounting methods

• Detailed product description

• List of current employees