Title: Conduct a strengths, weaknesses, opportunities, threats (SWOT) analysis to analyze the effects of competition on a given product and/or service.
Course: Marketing Management (12166) > Section: Developing the Marketing Strategy

Conducting a SWOT analysis should include

- definitions of internal and external environment
- the effect of competition on pricing, merchandising, quality control, financial resources, debt, potential market growth, and sales strategies of a given product and/or service.
- an environmental scan, including an internal analysis and an external analysis
- analysis of the potential global influences on the marketing strategy.

Process/Skill Questions:

- How can internal and external environments affect the SWOT analysis?
- What factors should be considered in the environmental scan?
- What are examples of direct and indirect competition in the local economy?
- What are the effects of this competition on the consumers and on the business community?
- What effects can nonprice competition have on the success of a product?