# CTE Resource Center - Verso - Marketing, Advanced Task 927073164

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Conduct a SWOT analysis to analyze the effects of competition on the selected product/service.

Definition

A SWOT (strengths, weaknesses, opportunities, threats) analysis should include the effect of competition on pricing, merchandising, quality control, financial resources, debt, potential market growth, and sales strategies of the selected product/service. A SWOT matrix includes an environmental scan, including an internal analysis and an external analysis.

Process/Skill Questions

  • How does competition determine pricing?
  • What are some sales strategies a business might use to compete?
  • What direct and indirect competition exists in your local economy? What are the effects of this competition on the consumers? On the business community?
  • What effects can non-price competition have on the success of a product?
  • How can a SWOT analysis be used to improve a product/service?
  • Why must a business look at threats and weaknesses as possible opportunities?
  • What factors contribute to potential market growth?

Related Standards of Learning

English

11.1

The student will make planned informative and persuasive multimodal, interactive presentations collaboratively and individually.
  1. Select and effectively use multimodal tools to design and develop presentation content.
  2. Credit information sources.
  3. Demonstrate the ability to work collaboratively with diverse teams.
  4. Respond thoughtfully and tactfully to diverse perspectives, summarizing points of agreement and disagreement.
  5. Use a variety of strategies to listen actively and speak using appropriate discussion rules with awareness of verbal and nonverbal cues.
  6. Anticipate and address alternative or opposing perspectives and counterclaims.
  7. Evaluate the various techniques used to construct arguments in multimodal presentations.
  8. Use vocabulary appropriate to the topic, audience, and purpose.
  9. Evaluate effectiveness of multimodal presentations.

12.1

The student will make planned persuasive/argumentative, multimodal, interactive presentations collaboratively and individually.
  1. Select and effectively use multimodal tools to design and develop presentation content.
  2. Credit information sources.
  3. Demonstrate the ability to work collaboratively with diverse teams.
  4. Anticipate and address alternative or opposing perspectives and counterclaims.
  5. Evaluate the various techniques used to construct arguments in multimodal presentations.
  6. Use a variety of strategies to listen actively and speak using appropriate discussion rules with awareness of verbal and nonverbal cues.
  7. Critique effectiveness of multimodal presentations.

History and Social Science

GOVT.15

The student will apply social science skills to understand the role of government in the Virginia and United States economies by

  1. describing the provision of government goods and services that are not readily produced by the market;
  2. describing government’s establishment and maintenance of the rules and institutions in which markets operate, including the establishment and enforcement of property rights, contracts, consumer rights, labor-management relations, environmental protection, and competition in the marketplace;
  3. investigating and describing the types and purposes of taxation that are used by local, state, and federal governments to pay for services provided by the government;
  4. analyzing how Congress can use fiscal policy to stabilize the economy;
  5. describing the effects of the Federal Reserve’s monetary policy on price stability, employment, and the economy; and
  6. evaluating the trade-offs in government decisions.

Other Related Standards

National MBAResearch Standards-Business Administration

Utilize planning tools to guide organization's/department's activities.

 

National MBAResearch Standards-Marketing

Employ marketing-information to plan marketing activities.