Harris Brown, the marketing manager at a small retail chain, wants to assess his firm's strengths, opportunities, weaknesses, and threats. Which of the following would be best suited for his purpose?
A) SWOT analysis
B) cluster analysis
C) portfolio analysis
D) regression analysis
E) Porter's five forces analysis

Question

Quizplus · Accepted Answer

Of the options given, SWOT analysis would be the best choice for Harris Brown's purpose. SWOT analysis is a strategic planning tool that helps to identify a company's strengths, weaknesses, opportunities, and threats. It can help Harris Brown to gain a better understanding of his company's internal and external environment, which can be useful in developing a marketing strategy.
Cluster analysis is a statistical technique used to group objects or individuals that are similar to each other. It is not directly related to the purpose of assessing a company's strengths, opportunities, weaknesses, and threats.
Portfolio analysis is a technique used to analyze a company's portfolio of products or business units. It is not directly related to the purpose of assessing a company's strengths, opportunities, weaknesses, and threats.
Regression analysis is a statistical technique used to determine the relationship between a dependent variable and one or more independent variables. It is not directly related to the purpose of assessing a company's strengths, opportunities, weaknesses, and threats.
Porter's five forces analysis is a framework used to analyze the competitive environment in an industry. While it can be useful for developing a marketing strategy, it is not specifically designed to assess a company's strengths, opportunities, weaknesses, and threats.

Harris Brown, the Marketing Manager at a Small Retail Chain