Question and answer
Swot analysis indicating the strenghts and weaknesses
Strengths and Weaknesses Relative to market needs and competitors? characteristics, a manager must begin to think in terms of what the firm can do well and where it may have deficiencies. [ Strengths and weaknesses exist internally within a firm, or in key relationships between the firm and its customers. SWOT analysis must be customer focused to gain maximum benefit, a strength is really meaningful only when it is useful in satisfying the needs of a customer. At this point, the strength becomes a capability (Marketing Strategy, 1998). When writing down strengths, it is imperative that
they be considered from both the view of the firm as well as from the customers that are dealt with. These strengths should be realistic and not modest. A well-developed listing of strengths should be able to answer a couple of questions. What are the firm?s advantages? What does the firm do well (PMI, 1999)? A customer-focused SWOT may also uncover a firm?s potential weaknesses. Although some weaknesses may be harmless, those that relate to specific customer needs should be minimized if at all possible. In addition, a focus on a firm?s strengths in advertising is promotion is important to increase awareness in areas that a firm excels in. This method not only evokes a positive response within the minds of the consumer, but pushes the weaknesses further from the decision making process (Marketing Strategy, 1998). Weaknesses should also be considered from an internal and external viewpoint. It is important that listing of a firm?s weaknesses is truthful so that they may be overcome as quickly as possible. Delaying the discovery of weaknesses that already exist within a company will only further hurt the firm. A well-developed listing of weaknesses should be able to answer a few questions. What can be improved? What is done poorly? What should be avoided (PMI, 1999)? The role of the internal portion of SWOT is to determine where resources are available or lacking so that strengths and weaknesses can be identified. ]
s
Expert answered|selymi|Points 9002|
Question
Asked 10/9/2012 10:12:50 AM
0 Answers/Comments
This answer has been confirmed as correct and helpful.
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
31,999,096
questions answered
GET
Answers.
GET THE APP.
weegy*
*
Get answers from Weegy and a team of really smart live experts.
Popular Conversations
S
L
Points 804 [Total 3801] Ratings 2 Comments 784 Invitations 0 Offline
S
L
P
L
P
Points 760 [Total 6783] Ratings 1 Comments 750 Invitations 0 Online
S
L
P
R
P
R
L
P
P
C
R
P
R
L
P
R
Points 685 [Total 12776] Ratings 1 Comments 455 Invitations 22 Offline
S
L
P
1
Points 536 [Total 3392] Ratings 3 Comments 506 Invitations 0 Online
S
L
Points 403 [Total 1896] Ratings 1 Comments 393 Invitations 0 Offline
S
L
Points 302 [Total 4686] Ratings 1 Comments 292 Invitations 0 Offline
S
L
1
Points 170 [Total 3481] Ratings 2 Comments 150 Invitations 0 Offline
S
L
Points 125 [Total 276] Ratings 3 Comments 95 Invitations 0 Offline
S
L
Points 85 [Total 244] Ratings 0 Comments 85 Invitations 0 Offline
S
L
L
Points 64 [Total 5352] Ratings 1 Comments 54 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.