Marketing Recap - Midterm

SWOT stands for?

• Strengths, Wellbeing, Opportunities, Threat

• Sudden Weaknesses, Outstanding Threats

• Social Ways of Overcoming Threats

• Strengths Weakness Opportunities Threats

A SWOT analysis looks at?

• The Internal Factors only

• The external factors only

• Both internal and external Factors

• None of the above

Negative factors that are beyond the control of the business.

• Strength

• Weaknesses

• Opportunities

• Threats

What are the six elements of PESTEL?

• Power, Environment, Science, Teaching, Education and legal

• Peace, Elements, Search, Tape, Environment and legal

• Political, Economic, Social, Technological Environmental and legal

• Paper, Element, Savings, Trust, Entry and labels

Used to describe a framework for the analysis of macroenvironmental factors:

• SWOT analysis

• CASE analysis

• TOWS analysis

• PESTEL analysis

In Porter’s five forces model, conditions are more favourable for firms within an industry if:

• Buyer power is high

• Supplier power is high

• Entry threat is low

• Substitute threat is high

 

Internal resources such as skilled, knowledgeable staff.

• Strength

• Weakness

• Opportunity

• Threat

What is Porter's Five Forces framework?

• Porter's Five Forces framework is a marketing strategy used to increase sales.

• Porter's Five Forces framework is a financial model used to analyze company profitability.

• Porter's Five Forces framework is a management technique used to improve employee productivity.

• Porter's Five Forces framework is a tool used to analyze the competitive environment of an industry.

How does the bargaining power of suppliers affect an industry according to Porter's Five Forces framework?

• The bargaining power of suppliers has no impact on an industry.

• The bargaining power of suppliers only affects the availability of inputs.

• The bargaining power of suppliers only affects the quality of inputs.

• The bargaining power of suppliers affects an industry by influencing the prices, quality, and availability of inputs.

What can decrease the bargaining power of buyers?

• High availability of substitute products.

• High concentration of buyers.

• Low switching costs for buyers.

• High differentiation of products.