Marketing - What is the SWOT Analysis?

The video tutorial introduces SWOT analysis, a strategic tool for businesses to assess their strengths, weaknesses, opportunities, and threats. It explains that strengths and weaknesses are internal factors within a company's control, while opportunities and threats are external factors that require awareness and strategic planning. The tutorial emphasizes the importance of differentiating between these elements and provides guidance on managing weaknesses and threats to develop effective marketing plans.

What is the primary purpose of conducting a SWOT analysis?

• To evaluate employee performance

• To assess financial statements

• To analyze customer feedback

• To determine the future direction of a company

Which of the following is considered an internal factor in a SWOT analysis?

• Market trends

• Strengths

• Threats

• Opportunities

How can a company address its weaknesses according to the SWOT analysis?

• By focusing solely on strengths

• By ignoring them

• By dedicating time and resources to improve

• By outsourcing them

What distinguishes opportunities from strengths in a SWOT analysis?

• Opportunities are internal, strengths are external

• Opportunities are external, strengths are internal

• Both are external factors

• Both are internal factors

Why is it important to be aware of threats in a SWOT analysis?

• To eliminate them completely

• To ignore them and focus on opportunities

• To react and develop plans to succeed despite them

• To convert them into strengths