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Analyze This!

Analyze This!. Marketing-Information Management LAP 8. Explain the reasons for conducting a SWOT analysis. Demonstrate procedures for conducting a SWOT analysis for use in marketing planning. Objectives. Objective. Explain the reasons for conducting a SWOT analysis.

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Analyze This!

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  1. Analyze This! Marketing-Information Management LAP 8

  2. Explain the reasons for conducting a SWOT analysis. Demonstrate procedures for conducting a SWOT analysis for use in marketing planning. Objectives

  3. Objective Explain the reasons for conducting a SWOT analysis.

  4. Carl’s lawn-mowing service • Where to go from here? • Needs to see “the whole picture”

  5. Discovering SWOT Strength • Strength • Any resource or capability your business has that can help you gain a competitive advantage in your industry • Opportunity • Any favorable situation in the environment surrounding your business Opportunity Threat Weakness • Threat • Weakness • Any unfavorable situation in the environment surrounding your business • Any limitation or shortcoming your business has that can keep you from achieving your objectives

  6. INFORMATION Discovering SWOT • Benefits of SWOT analysis: • Prioritize • Look at your business with the proper perspective • Discover issues you hadn’t thought of before • Filter for a great deal of information • Insight into competitors

  7. Discovering SWOT • Who should be involved in SWOT: • Top company executives • Employees at every level • Suppliers • Customers

  8. Discovering SWOT • When to conduct SWOT: • Any time! • Especially helpful when you have a limited amount of time

  9. Objective Demonstrate procedures for conducting a SWOT analysis for use in marketing planning.

  10. How to Conducta SWOT Analysis Should I expand my lawn-mowing business beyond my neighborhood? • First, establish objectives and goals. • For larger businesses, define the scope of the SWOT analysis.

  11. How to Conducta SWOT Analysis • Strengths • Internal organizational factors • Questions to help determine: • What are our advantages? • What are our assets? • Where are we making money? • Don’t downplay strengths. • Consider them in relation with the competition.

  12. How to Conducta SWOT Analysis • Weaknesses • Internal organizational factors • Questions to help determine: • What can we improve? • What resources do we lack? • Where are we losing money? • Avoid being too negative. • Weaknesses are different from mistakes.

  13. How to Conducta SWOT Analysis • Opportunities • External organizational factors • Determined through environmental scanning • Helpful questions: • What new needs of customers can we meet? • What economic trends are beneficial to us? • What niches have our competitors missed?

  14. How to Conducta SWOT Analysis • Threats • External organizational factors • Determined through environmental scanning • Helpful questions: • What obstacles do we face? • What is our competition doing? • Do we have money problems?

  15. How to Conducta SWOT Analysis • Key issues in each category

  16. CAUTION How to Conducta SWOT Analysis • SWOT cautions: • SWOT is subjective—there isn’t necessarily a right or wrong. • Live in the present—where is your business right now? • Be specific.

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