SWOT Review (Open Note) Marketing Chapter 2

SWOT stands for "strengths, weaknesses, opportunities and threats."

• True

• False

An environmental scan is an analysis of internal company strengths and weaknesses.

• True

• False

When completing a SWOT analysis, you should assess the strengths and weaknesses that are external to the company and out of your control.

• True

• False

Changing technology may be a threat for one industry, but an opportunity for others.

• True

• False

The 3 C's of internal analysis are: 

• company, caller, competition

•   company, customer, contests

•   company, customer, competition

•   companion, customer, competition

A PEST Analysis:

•   Studies of consumers based on social and psychological characteristics.

•   Scanning of outside influences on an organization. This is a methodical look at the world that typically includes four factors: political, economic, socio-cultural, and technological.

•   An analysis of outside influences that may have an impact on an organization.

• Identification of target markets and determination of marketing mix choices that focus on those markets

Select the correct SWOT category -A store owner has a Marketing degree & 10 years of experience

• Strengths

•   Weaknesses

•     Opportunities

•     Threats

Select the correct SWOT category - A company's market share decreased.

• Strengths

•   Weaknesses

•     Opportunities

•     Threats

Select the correct SWOT category - You work for a company similar to Netflix and legislation passed to make streaming TV shows online illegal.

• Strengths

•   Weaknesses

•     Opportunities

•     Threats

When completing a SWOT analysis, you should assess the opportunities and threats that are external to the company and out of your control.

• True

• False