Example Below: Take a look at the chart below for the correct placement of each
ID: 399510 • Letter: E
Question
Example Below:
Take a look at the chart below for the correct placement of each item in the SWOT:
Strengths
Your business is in a location that is easy to get into and out of.
You have developed a software system that makes online orders extremely easy.
You have especially good relationships with many suppliers due to your years in business and your success.
Weaknesses
You are dependent upon a few artists to keep you in stock.
It is difficult to hire workers with retail experience in the area.
Opportunities
The highway that they have been talking about for years is finally being built.
Two new hotels are scheduled for opening next year.
Threats
Wal-Mart moves into a town a few miles away.
The price of gas goes up.
The Post Office decides to cut deliveries on Saturday.
Another gift shop may open next door.
A few things to keep in mind: A strength is only a strength if it matters to the customer in some way. If you owned a retail clothing store a prime mall location would be a strength. However, if you sold heavy mining equipment, it likely wouldn’t matter to your customers where you were located in the mall.
Factors can fall into more than one category. Something can be both an opportunity and a threat. For instance, a company may be threatened by a new technology, but if they can respond to those changes more quickly than the competition it could be an opportunity.
A company’s strengths and weaknesses may change over time given changing opportunities and threats.
Assignment:
Imagine you own a small gift shop in a popular but remote tourist location. You want to develop an effective marketing strategy to expand your business during the next two years, and have decided to conduct a SWOT analysis. Consider the situation factors listed below, and “drag & drop” (highlight to select, and then cut and paste) them into the appropriate section of the SWOT analysis grid:
Strengths
Weaknesses
Opportunities
Threats
· You have especially good relationships with many suppliers due to your years in business and your success.
· Your business is in a location that is easy to get into and out of.
· It is difficult to hire workers with retail experience in the area.
· Wal-Mart moves into a town a few miles away.
· The price of gas goes up.
· The highway that they have been talking about for years is finally being built.
· The Post Office decides to cut deliveries on Saturday.
· You are dependent upon a few artists to keep you in stock.
· You have developed a software system that makes online orders extremely easy.
· Another gift shop may open next door.
· Two new hotels are scheduled for opening next year.
Then, examining the entire SWOT analysis, recommend at least 3 marketing actions you could take to ensure the success of your shop and explain why you believe they will work
Strengths
Your business is in a location that is easy to get into and out of.
You have developed a software system that makes online orders extremely easy.
You have especially good relationships with many suppliers due to your years in business and your success.
Weaknesses
You are dependent upon a few artists to keep you in stock.
It is difficult to hire workers with retail experience in the area.
Opportunities
The highway that they have been talking about for years is finally being built.
Two new hotels are scheduled for opening next year.
Threats
Wal-Mart moves into a town a few miles away.
The price of gas goes up.
The Post Office decides to cut deliveries on Saturday.
Another gift shop may open next door.
Explanation / Answer
Answer
strengths
*good relationships with many suppliers
*business is in a location that is easy to get into and out of.
developed a software system that makes online orders extremely easy.
weaknesses
*difficult to hire workers with retail experience in the area.
*dependent upon a few artists to keep you in stock.
Opportunities
* The highway that they have been talking about for years is finally being built.
threats
*Wal-Mart moves into a town a few miles away.
*The price of gas goes up.
* The Post Office decides to cut deliveries on Saturday.
*Another gift shop may open next door.
*Two new hotels are scheduled for opening next year.
Recommendations:
1. It is recommended to arrange outsourcing for the employees with retail experience from another city or county to meet the requirements.
2.have some good alternative options for artists to keep up the stock
3. Keep the pricing competitive with quality supply to retain customers even if other competitors enter the market.
4. Bring new product lines and divest from unfruitful product lines and offering.
5. Focus on strength to grow continuosly.
6. Consider the opportunity and expand the business and market catering the large customer base.
* I believe that these recommendations if implied will work to keep the organisation successful and sustainable. Because, swot analysis gives a picture of what a company is good at and what it needs to improve and consider to achieve towards success. These recommendations will help in planning marketing activities and to keep the required workforce, resources and decide strategies to help business grow.
strengths
*good relationships with many suppliers
*business is in a location that is easy to get into and out of.
developed a software system that makes online orders extremely easy.
weaknesses
*difficult to hire workers with retail experience in the area.
*dependent upon a few artists to keep you in stock.
Opportunities
* The highway that they have been talking about for years is finally being built.
threats
*Wal-Mart moves into a town a few miles away.
*The price of gas goes up.
* The Post Office decides to cut deliveries on Saturday.
*Another gift shop may open next door.
*Two new hotels are scheduled for opening next year.
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