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MKTG401 Week 3 Short Analysis P MKTG401 Week Three Short Analysis Paper American Public University MKTG401: Marketing Strategy Week Three Short Analysis Paper For my paper I chose to do a SWOT analysis on Apple Inc. SWOT analysis stands for strengths, weaknesses, opportunities, and threats....
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MKTG401
Week Three Short Analysis Paper
American Public University
MKTG401: Marketing Strategy
Week Three Short Analysis Paper
For my paper I chose to do a SWOT analysis on Apple Inc. SWOT analysis stands for
strengths, weaknesses, opportunities, and threats. This technique assesses these four aspects of a
business. Businesses can benefit from a SWOT analysis by reducing the chances of failure,
understanding what you’re lacking, and eliminating hazards that would otherwise catch you unawares
(MindTools, n.d.). It is key to gather a team to brainstorm techniques to build a list of ideas about
where your organization stands (MindTools, n.d.). Without a SWOT analysis corporate planning has
often failed at trying to get everyone on the same page and agree to the details of a plan which is
ineffective business and time consuming (Jackson, n.d.).
A SWOT analysis is a high-level strategic planning model that helps organizations identify
where they’re doing well and where they can improve, both from an internal and an external
perspective (Jackson, n.d.). SWOT works to evaluate your business by considering the strengths and
weaknesses which are your internal factors like team members, software, and geographic location
(Jackson, n.d.). SWOT also evaluates opportunities and threats represented. This is your external
factors like competitors, regulations, and economic trends (Jackson, n.d.).
SWOT analysis is designed to facilitate a realistic, fact-based, data-driven look at the
strengths and weaknesses of an organization, initiatives, or within its industry (Kenton, 2021). The
organization needs to keep the analysis accurate by avoiding pre-conceived beliefs or gray areas and
instead focusing on real-life contexts (Kenton, 2021).
Strengths
, Strengths are things a business does particularly well, or in a way that distinguishes you from
your competitors (MindTools, n.d.). Some aspects of strengths include motivating your staff, access
to certain materials, or a strong set of manufacturing processes (MindTools, n.d.).
Strengths in your business give you an edge to the organization over your competitors (Reddy,
2020). When discussing strengths in a business, ask the group “ “What are we good at?” and “How can
we be better than our competitors? (Jackson, n.d.).” The group needs to consider financial strengths,
what is a reliable source of financial growth; customer strengths, where are the customers coming
from; internal strengths, what does the company do well; and learning and growth strengths, where
does the company excel as far as employees are concerned (Jackson, n.d.).
Weaknesses
Considering your business’s weaknesses is crucial. Weaknesses are inherent features of your
organization, so focus on your people, resources, systems, and procedures (Mindtool, n.d.). The group
chosen for brainstorming needs to consider where to improve and what practices to avoid. The group
should ask themselves, “ “What are we not good at?”, “Where can we grow?”, and “What are we
lacking (Jackson, n.d.)”. The group should brainstorm financial weaknesses, what is your biggest
financial weakness, challenges with debt or credit; customer weaknesses, where can you improve with
your customers; internal weaknesses, what do you do poorly, are you slow at handling customer
complaints or maintenance costs too high; learning and growth weaknesses, what are your biggest
challenges with employees, are your employees properly changed (Jackson, n.d.).
Opportunities
Opportunities are openings or change for something positive to happen (MindTools, n.d.).
These opportunities usually arise from outside situations, developments in the market the
business serves, or in technology your company uses (MindTools, n.d.). You should always watch
for changes in government policy related to your business, changes in social patterns,
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