Title: Conduct a strengths, weaknesses, opportunities, threats (SWOT) analysis.
Course: Strategic Marketing (formerly Marketing, Advanced) (12152) > Section: Understanding Product/Service Positioning

Conducting a SWOT 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?
- Why must a business look at threats and weaknesses as possible opportunities?
- What factors contribute to potential market growth?