Analyze This! Pretest

Which of the following is an internal strength that a business might identify during a SWOT analysis:

• Financial resources

• Extensive reguylations

• Increased expenses

• Limited competition

What is a potential opportunity a manager might identify in a SWOT analysis?

• Falling trade barriers

• Strong research and development

• Managementy turnover

• Risk of takeover

One reason for conducting a SWOT analysis for use in the marketing process is to identify a business’s __________ strengths and weaknesses.

• internal

• financial

• regional

• external

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

• external threat attacking an internal weakness.

• internal strength responding to an external threat.

• internal weakness compensating for an external threat.

• external opportunity coinciding with an internal strength.

Which of the following is a weakness that a business might identify as a result of conducting a SWOT analysis:

• Inability to adapt to changes in customer preferences

• Possibility of competitors entering the market

• Need to comply with additional governmental regulations

• Availability of technically advanced equipment

One of the benefits to a business of conducting a SWOT analysis is that it enables the business to take advantage of possible external opportunities by identifying the

• capabilities that make it successful.

• economic conditions in the market.

• problems with the management staff.

• costs involved in developing a product.

Which of the following is an internal factor that a business should consider when conducting a SWOT analysis:

• Rate of productivity

• Type of industry

• Location of target market

• Amount of competition

What is a question that a business might ask itself during a SWOT analysis to determine its strengths?

• Where are we making money?

• What are our competitors doing?

• What economic trends are beneficial to us?

• What obstacles do we face?

Which of the following marketing strategies focuses on opportunities that are a good match with the business's strengths:

• S-O

• S-T

• W-O

• W-T

Gary works for a computer software company. He always keeps up on the technological advances in his industry, and he also makes sure he knows what products his competitors are developing. When Gary gathers this external information, he is participating in

• environmental scanning.

• threat appraisal.

• competition assessment.

• information collecting.