Question 1

The primary purpose of using a SWOT analysis is to ________.&#10;A) avoid exposure to threats&#10;B) eliminate internal weaknesses&#10;C) change weaknesses into strengths&#10;D) match opportunities and strengths

Accepted Answer

The primary purpose of a SWOT analysis is to identify opportunities and match them with existing strengths in order to create a strategic plan. It is not necessarily about avoiding threats or eliminating weaknesses, but rather leveraging strengths to take advantage of opportunities.

Question 2

Market segments are best described as ________.&#10;A) stationary&#10;B) flexible&#10;C) latent&#10;D) active

Accepted Answer

D

Question 3

In a SWOT analysis,which of the following would be considered a strength?&#10;A) technological advancements&#10;B) political environment&#10;C) internal resources&#10;D) market trends

Accepted Answer

Internal resources are considered a strength in a SWOT analysis as they are assets and capabilities that an organization possesses such as skilled employees, strong finances, and advanced technology. Technological advancements and market trends are external factors that can be opportunities or threats, depending on how they impact the organization. The political environment may also be an external factor that can have either positive or negative effects on the organization, depending on the policies and regulations that it imposes.

Question 4

Market segments change in size as consumer buying habits and preferences change and as latent needs develop.

Accepted Answer

Market segments are not static, but rather dynamic and subject to change over time as consumer behavior and needs evolve. As demographic, geographic, psychographic, and behavioral variables shift, the size and composition of market segments may also change, creating new opportunities and challenges for businesses. Companies that stay attuned to changes in their target audience and adapt their products, services, and marketing strategies accordingly are more likely to succeed in the long run.

Question 5

Which of the following is the first step in conducting a SWOT analysis?&#10;A) Study the environment for changes in consumer needs.&#10;B) Compare the value chains of the firm and its competitors.&#10;C) Match internal strengths to possible external opportunities.&#10;D) Scan the environment for significant shifts in market segments.

Accepted Answer

The answer of Which of the following is the first...

Question 6

Which activity should occur regularly to identify opportunities and threats?&#10;A) changing the marketing mix&#10;B) evaluating market segments&#10;C) conducting internal audits&#10;D) reviewing market fads

Accepted Answer

Evaluating market segments regularly helps identify opportunities and threats in the market, as changes in customer preferences, behavior, and market trends can significantly impact sales and revenue. Conducting internal audits and reviewing market fads may also provide valuable insights, but they are not as focused on identifying opportunities and threats. Changing the marketing mix is a strategic decision based on the analysis of the market and internal factors, but it is not an activity that occurs regularly to identify opportunities and threats.

Question 7

In terms of a SWOT analysis,a strength is best defined as something that the firm does ________.&#10;A) better than the competition&#10;B) with consistency&#10;C) really well&#10;D) profitably

Accepted Answer

A strength is best defined as a positive attribute of the firm that it does better than its competitors. It is an internal asset or capability that gives the firm a competitive advantage in the market. Consistency, doing something really well, or profitability are by-products of a firm's strength, but not the defining characteristic.

Question 8

How can regular environmental scanning improve the effectiveness of a SWOT analysis? What environmental factors pose opportunities and threats?

Accepted Answer

The answer of How can regular environmental scanning improve the...

Question 9

Opportunities and threats arise from internal sources such as inadequate employee skills and ineffective technology.

Accepted Answer

Opportunities and threats are typically external factors that affect an organization, such as market trends and competition, while internal sources like inadequate employee skills and ineffective technology are considered strengths or weaknesses.

Question 10

When conducting a SWOT analysis,any identification of strengths and weaknesses should be made in comparison to the competition.

Accepted Answer

Conducting a comparison with the competition is a crucial part of conducting a SWOT analysis as it enables businesses to gain an understanding of their relative strengths and weaknesses in their respective markets. This information can then be used to develop strategies that capitalize on strengths while addressing weaknesses and mitigating threats.

Question 11

Which quadrant of a SWOT analysis matrix should a firm's strategies be based upon?&#10;A) strengths-opportunities&#10;B) strengths-threats&#10;C) weaknesses-opportunities&#10;D) weaknesses- threats

Accepted Answer

The answer of Which quadrant of a SWOT analysis matrix...

Question 12

When studying the environment for opportunities and threats,it is most important to focus on ________.&#10;A) latent strategies&#10;B) niche markets&#10;C) consumer needs&#10;D) global trends

Accepted Answer

The answer of When studying the environment for opportunities and...

Question 13

The strengths found in a SWOT analysis are also known as ________.&#10;A) sustainable competitive advantages&#10;B) strategic business units&#10;C) market share opportunities&#10;D) value chain activities

Accepted Answer

The answer of The strengths found in a SWOT analysis...

Deck 25: Note : Swot Analysis