SWOT Analysis Is a Simple but Powerful Tool for

question 33

Multiple Choice

SWOT analysis is a simple but powerful tool for

• A)gauging whether a company has a cost-competitive value chain.
• B)sizing up a company's resources and capabilities, strengths and deficiencies, its market opportunities, and the external threats to its future well-being.
• C)evaluating whether a company is in the most appropriate strategic group.
• D)determining a company's competitive strength vis-à-vis close rivals.
• E)identifying the market segments in which a company is strongly positioned and weakly positioned.

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Definitions:

Product Obsolescence

Occurs when a product becomes outdated or no longer useful due to technological advancements, changes in consumer preferences, or market conditions.

Social Responsibility

The concept that businesses should not only focus on maximizing profits but also consider their impact on society and the environment.

Pricing Objectives

Specifying the role of price in an organization’s marketing and strategic plans.

Marketing Plans

Strategic documents that outline a company’s strategy for promoting its products or services to reach targeted customers.