Module 2 – SLP<\/h1>\n

In this module SLP 2, conduct SWOT analysis for your charge based
\non the situation analysis in SLP1. This is the second step of this
\ncumulative research project. Be sure to revise the sections in SLP1 and
\ninclude them in this paper following the marketing plan outline provided
\nabove.<\/strong><\/p>\n

SWOT Analysis<\/h3>\n

A thorough situation analysis in the Module 1 SLP is the foundation
\nfor a SWOT analysis. Develop statements of the company\u2019s internal
\nstrengths and weaknesses, and external opportunities and threats. If
\nthere is any question as to whether a fact or issue is external (these
\nlead to opportunity and threat statements) or internal (these lead to
\nstrength and weakness statements), ask this key question, \u201cWould this
\nissue exist if the company did not exist?\u201d If the answer is yes, then
\nthe issue should be classified as external.<\/p>\n

Note:<\/strong> <\/strong>Remember that alternative marketing
\nstrategies and tactics are not opportunities. Opportunities and threats
\nexist independently of the firm. Strategies and tactics are what the
\nfirm intends to do about its opportunities and threats relative to its
\nown strengths and weaknesses.<\/p>\n

The SWOT will play a critical role (along with an in-depth
\nunderstanding of target market needs\/preferences and competition) in the
\ndevelopment of goals, objectives, and marketing strategies and
\nprograms. Key strengths need to be matched to opportunities and
\nconverted to capabilities that help serve customer needs better and lead
\nto competitive advantage. Goals, strategies, and program ideas stem
\nfrom an attempt to convert weaknesses into strengths and threats into
\nopportunities. Some alternatives will also come from thinking about how
\nto minimize the repercussions of weaknesses and threats that cannot be
\nconverted, and\/or how to avoid them altogether. Follow the instructions
\nbelow to identify strengths, weakness, opportunities, and threats.<\/p>\n

A. Strengths and Weaknesses (Internal)<\/strong><\/p>\n

Think about internal conditions; those things that management has
\nsome control over that are relevant to future success and effectiveness.
\nThe task is to identify internal strengths, which must be taken into
\nconsideration as management plans for the future.<\/p>\n

Remember, a strength is any internal characteristic that improves
\neffectiveness. Look for factors that help the company improve
\npositioning in the marketplace, enhance financial performance, and most
\nimportantly, fight off threats and take advantage of opportunities in
\nthe external environment.<\/p>\n

A weakness is any internal characteristic that limits effectiveness,
\nperformance, and the ability to accomplish objectives, meet threats, and
\ntake advantage of opportunities.<\/p>\n

It is also important to point out that a particular fact about the
\ninternal environment may have a weakness and a strength dimension. For
\nexample, we might say that the company’s technical skills are of the
\nhighest quality and this is a strength, but since these skills are
\npossessed by only a few employees, it is also a weakness in that we need
\nmore people with such skills and would be hurt if a few key people left
\nthe company.<\/p>\n

Using the following 16 internal factors to stimulate your thinking,
\nlist all of the company strengths you can think of for each category.
\nThen review the same list of 16 internal factors and develop a list of
\ncompany weaknesses. (You may not have access to all of the information
\nbelow, but try your best to identify at least five of them for your
\nproject).<\/p>\n

Internal Factors<\/strong><\/p>\n

The following categories of internal factors are commonly used to
\ngenerate a list of specific company strengths and weaknesses. This list
\nis to be used to stimulate your thinking about internal strengths and
\nweaknesses.<\/p>\n

\n
1. Management leadership\/capabilities.<\/li>\n
2. Organization structure and management systems.<\/li>\n
3. Facilities, equipment, and materials.<\/li>\n
4. Technical skills and expertise.<\/li>\n
5. Dedication, morale, and motivation of employees.<\/li>\n
6. Capacity to meet demand\u2014production capacity, including excess available for growing demand.<\/li>\n
7. Marketing effectiveness\/efficiency\u2014advertising, personal selling,
   \npublic relations, products\/services, prices, distribution, marketing
   \nresearch and planning, customer service, warranties, sales support,
   \nsales promotion, etc.<\/li>\n
8. Ability to deliver what the market wants.<\/li>\n
9. Ability to deliver in a timely manner.<\/li>\n
10. Image and reputation as perceived by customers and within the industry.<\/li>\n
11. Customer (and potential customer) perception\u2014likes, dislikes, and perceptions of service, quality, etc.<\/li>\n
12. Financial performance\u2014sales, market share, customer satisfaction\/loyalty, and profits.<\/li>\n
13. Financial situation\u2014availability of capital, internal funding, financial stability, etc.<\/li>\n
14. Cost of operations\u2014high cost vs. low cost, rising costs, costs compared to competition (manufacturing, distribution, etc.)<\/li>\n
15. Geographic location(s).<\/li>\n
16. Other relevant competencies\/resources that translate into strengths
    \nthat have not been mentioned. Also, any weaknesses we have missed
    \nrelated to a lack of competencies and\/or resources that are needed in
    \nthe future.<\/li>\n<\/ol>\n

    B. Opportunities and Threats (External)<\/strong><\/p>\n

    Think about the most significant trends in the organization\u2019s
    \nexternal environment that will have an impact on future success. The
    \nchallenge is to identify relevant opportunities and threats outside
    \nmanagement’s control that must be taken into consideration during the
    \nplanning process. You will need to list and describe the factors\/issues
    \nforming industry trends that may influence future efforts one way or the
    \nother, either as a positive force (opportunity) or as a barrier
    \n(threat).<\/p>\n

    An opportunity is the result of some trend or fact in the external
    \nenvironment that represents a marketplace and\/or financial performance
    \nadvantage. It may indicate a new direction, product or service, and\/or
    \nresource requirement for the company. It represents an attractive arena
    \nfor marketing action in which the company would enjoy a competitive
    \nadvantage.<\/p>\n

    A threat is the result of some trend or fact in the external
    \nenvironment that represents an area of concern for management. It
    \nrepresents a challenge posed by an unfavorable trend or development that
    \nwould lead, in the absence of effective marketing action, to the
    \nerosion of the company’s or industry’s position. A threat may:<\/p>\n

    \n
    1. Directly or indirectly affect the business.<\/li>\n
    2. Indicate an area to be avoided.<\/li>\n
    3. Demand a strategic response.<\/li>\n
    4. Represent an opportunity if responded to properly.<\/li>\n<\/ol>\n

       It should be pointed out that a particular trend in the external
       \nenvironment (for example, mergers\/acquisitions, technological
       \nadvancements, and\/or a recent change in the way competitors operate and
       \nwhat they are offering the market) can imply both a threat and an
       \nopportunity. Sometimes in strategic planning we say that behind each
       \nthreat (or problem) lies an opportunity. Or an optimist in strategic
       \nplanning will look at threats and try to turn them into opportunities.
       \nThus, it should be remembered that if management can adapt properly to a
       \nthreat (such as mergers and acquisitions), this trend may be viewed as
       \nan opportunity as well as a threat.<\/p>\n

       Review the following 13 categories of external environmental trend
       \nfactors and list the trends or issues that are relevant to the company
       \nand industry. Then translate each factor identified into a specific
       \nopportunity and\/or threat statement. That is, what are the implications
       \nof each environmental trend or issue outside the company in terms of
       \nspecific opportunities and\/or threats? (You may not have access to all
       \nthe information below, but try your best to identify at least five of
       \nthem for your project).<\/p>\n

       External Environmental Trend Factors<\/strong><\/p>\n

       The following categories of external environmental trend factors are
       \ncommonly considered in the planning process. They are used to develop a
       \nspecific list of company opportunities and threats. This list is to be
       \nused to stimulate your thinking about opportunities and threats in the
       \nexternal environment.<\/p>\n

       \n
       1. Mergers and acquisitions\u2014(e.g., among customers, potential customers, suppliers, competitors, and\/or within the industry).<\/li>\n
       2. Competitive trends\u2014specific competitive strategies and programs, or recent changes such as lower prices or new products.<\/li>\n
       3. Economic trends\u2014forces and changes in the economy such as inflation, interest rates, recession.<\/li>\n
       4. Technological trends\u2014new technological innovations.<\/li>\n
       5. Technical requirements\u2014within the industry.<\/li>\n
       6. Market\/industry trends\u2014size of firm related to industry, financial
          \nperformance of the industry compared with the firm, size\/growth rate of
          \ncurrent and future potential market characteristics and trends in
          \nmarkets and industry.<\/li>\n
       7. Customer and potential customer attitudes\u2014preferences, expectations, problems, wants, needs, etc. What changes are anticipated?<\/li>\n
       8. Legal trends\u2014government regulations and policies.<\/li>\n
       9. Societal\/lifestyle trends\u2014changes in people’s values, attitudes, and activities.<\/li>\n<\/ol>\n

          10. New products\/services\u2014on the market.<\/p>\n

          11. Supply sources.<\/p>\n

          12. Declining or increasing productivity\u2014in the industry or economy.<\/p>\n

          13. Other industry trends not previous mentioned that are relevant to the future.<\/p>\n

          Based on the detailed discussion of strengths, weaknesses,
          \nopportunities, and threats, use SWOT tables for the SWOT analysis. In
          \nother words, first state the facts based on your research, and then
          \nsummarize the findings in a SWOT table. Note the examples below and
          \nfollow the \u201cbest statements\u201d<\/strong> <\/strong>to describe the strengths, weaknesses, opportunities and threats for your company and charge in SWOT table(s).<\/p>\n\n\n\n\n\n\n\n\n\n\n\n

          \n<\/td>\n	\n Examples<\/strong><\/p>\n<\/td>\n	\n Not Useful Statement<\/strong><\/p>\n<\/td>\n	\n Better Statement<\/strong><\/p>\n<\/td>\n	\n Best Statement<\/strong><\/p>\n<\/td>\n<\/tr>\n
          \n Internal Strengths<\/p>\n<\/td>\n	\n Customer loyalty\/brand image<\/p>\n<\/td>\n	\n We have a strong brand image.<\/p>\n<\/td>\n	\n We have a 42% market share and our brand is known worldwide.<\/p>\n<\/td>\n	\n Our global market share has grown from 25% to 42% over the past four \nyears. Independent surveys show our quality and image is rated No. 1 in \nour industry in the U.S. and Asia and No. 2 in Europe behind XYZ.<\/p>\n<\/td>\n<\/tr>\n
          \n<\/td>\n	\n Sales\/ Distribution<\/p>\n<\/td>\n	\n Our distribution is the best in the industry.<\/p>\n<\/td>\n	\n Our product is available in more locations than our competitors\u2019.<\/p>\n<\/td>\n	\n Our extensive distribution network provides product within 10 miles \nof the home or work location of 95% of our target market. Our \ncompetitors only achieve this level for 40%-65% of the market.<\/p>\n<\/td>\n<\/tr>\n
          \n Internal Weaknesses<\/p>\n<\/td>\n	\n Product cost<\/p>\n<\/td>\n	\n Our costs are high.<\/p>\n<\/td>\n	\n Our major competitors, ABC and XYZ, produce in China for less cost.<\/p>\n<\/td>\n	\n Our labor costs average $40\/unit (in Detroit) vs. $12\/unit for our \ncompetitors (in China). With product market prices of $120\/unit we \nbarely break even.<\/p>\n<\/td>\n<\/tr>\n
          \n<\/td>\n	\n Product Life<\/p>\n<\/td>\n	\n We have product problems.<\/p>\n<\/td>\n	\n Our product life is less than the competition.<\/p>\n<\/td>\n	\n Typically, our product fails after one year. Our major competitor\u2019s \nproduct lasts 2-3 years. Customers are willing to pay 50% more for our \ncompetitors\u2019 product.<\/p>\n<\/td>\n<\/tr>\n
          \n External Opportunities<\/p>\n<\/td>\n	\n Alternative Distribution College Campus<\/p>\n<\/td>\n	\n We can leverage new distribution channels.<\/p>\n<\/td>\n	\n Internet could be used to increase sales to college students.<\/p>\n<\/td>\n	\n Direct Sales (via campus Intranet) and on-campus kiosks would more than double our coverage of our targeted Generation Y market.<\/p>\n<\/td>\n<\/tr>\n
          \n<\/td>\n	\n Export Growth via Strategic Alliances<\/p>\n<\/td>\n	\n Export markets can help us grow.<\/p>\n<\/td>\n	\n Europe and Asia provide good opportunities to grow by partnering.<\/p>\n<\/td>\n	\n Strategic alliances with ABC in Europe and XYZ in Asia would allow us to double international sales in two years.<\/p>\n<\/td>\n<\/tr>\n
          \n External Threats<\/p>\n<\/td>\n	\n Substitutes<\/p>\n<\/td>\n	\n Substitutes are a threat.<\/p>\n<\/td>\n	\n ABC\u2019s new sugar-free sweetener may hurt us.<\/p>\n<\/td>\n	\n In six months, ABC\u2019s sugar-free sweetener has achieved 20% market share. Its share is expected to grow to 40% by next year.<\/p>\n<\/td>\n<\/tr>\n
          \n<\/td>\n	\n Mergers<\/p>\n<\/td>\n	\n Competitor mergers could hurt us.<\/p>\n<\/td>\n	\n Competitor XYZ is expected to acquire ABC.<\/p>\n<\/td>\n	\n If XYZ acquires ABC, it will dominate the distribution network and limit our access.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Check the following link for some exercises to better understand SWOT elements.<\/p>\n SWOT Analysis Exercises (2010). Retrieved from http:\/\/www.cengage.com\/marketing\/book_content\/1439039429_lamb\/interactive_exercises\/exercise03.html<\/a><\/p>\n \n SLP Assignment Expectations<\/h3>\n Use the following outline to organize your paper. Note that the \nletters \u201ca, b, c\u2026\u201d and the numbers \u201ci, ii, iii, iv\u2026\u201d below are used to \nshow the major issues you need to include in your paper, but should not \nbe used to format your paper.<\/p>\n III. SWOT Analysis (3-6 pages)<\/strong><\/p>\n \n \n Strengths and Weaknesses (Internal)\n \n Strengths<\/li>\n Weaknesses<\/li>\n<\/ol>\n<\/li>\n Opportunities and Threats (External)\n \n Opportunities<\/li>\n Threats<\/li>\n<\/ol>\n<\/li>\n SWOT Table<\/strong><\/li>\n<\/ol>\n<\/ol>\n Note:<\/strong> Use double-spaced, black Verdana or Times \nRoman font in 12 pt. type size. Include a title page and references. \nRevise your Module 1 SLP based on the feedback from your professor and \nyour additional research, and include the Module 1 SLP in the Module 2 \nSLP.<\/p>\n Explain clearly and logically the facts about your company and \ncharge, and use the required reading to support your positions on the \nissues. Do not repeat or quote definitions. Your use of the required \nreading to support your opinions (that is, contentions or positions) \nshould demonstrate that you understand the concepts presented.<\/p>\n Paraphrase the facts using your own words and ideas, employing quotes \nsparingly. Quotes, if absolutely necessary, should rarely exceed five \nwords.<\/p>\n Academic papers at the master’s level should include citations and \nreferences. Look at different sources, especially credible and reputable \nresources such as The New York Times, The Wall Street Journal, \nBusinessweek, and The Economist, to find the information for your paper. \nAlso use Trident University\u2019s online library databases such as ProQuest \nand EBSCO to find the information for your project. Your discussion on \neach topic should be a synthesis of the different sources. Taking \nshortcuts on the number and quality of your sources will result in a \npoor-quality marketing plan that will be of no use to your client.<\/p>\n Also, it is important that you reference your sources throughout the \ntext of your marketing plan. Take the following paragraph as an example:<\/p>\n \u201cAs a result, telephone interviewers often do not even get a chance \nto explain that they are conducting a survey (Council for Marketing and \nOpinion Research, 2003), and response rates have steadily declined \n(Keeter et al., 2000) to reported lows of 7% (Council for Marketing and \nOpinion Research, 2003). This decrease presents a problem because not \nonly does it increase the cost of conducting telephone surveys, but it \nalso leads to questions concerning the generalizability of the results \n(Struebbe, Kernan & Grogan, 1986; Tuckel & O\u2019Neill, 2002).\u201d<\/p>\n There are different citation and reference formats such as APA, MLA, \nor Chicago. No matter which format you adopt for your marketing plan, \nmake it consistent throughout the plan.<\/p>\n Also note: The marketing plan should use third person business \nwriting. Avoid \u201cwe,\u201d \u201cour,\u201d and “you.\u201d Do not use contractions in \nbusiness writing.<\/p>\n Here are some guidelines on how to conduct information search and build critical thinking skills.<\/p>\n Emerald Group Publishing. (n.d.). Searching for information<\/em>. Retrieved from http:\/\/www.emeraldinsight.com\/learning\/study_skills\/skills\/searching.htm<\/a><\/p>\n Emerald Group Publishing. (n.d.). Developing critical thinking<\/em>. Retrieved from http:\/\/www.emeraldinsight.com\/learning\/study_skills\/skills\/critical_thinking.htm<\/a><\/p>\n Guidelines for handling quoted and paraphrased material are found at:<\/p>\n Purdue Online Writing Lab<\/em>. (n.d.). Academic writing<\/em>. Retrieved from https:\/\/owl.english.purdue.edu\/owl\/section\/1\/2\/<\/a><\/p>\n Purdue Online Writing Lab<\/em>. (n.d.). Quoting, paraphrasing, and summarizing<\/em>. Retrieved from https:\/\/owl.english.purdue.edu\/owl\/resource\/563\/1\/<\/a><\/p>\n Purdue Online Writing Lab<\/em>. (n.d.). Is it plagiarism<\/em> yet? Retrieved from https:\/\/owl.english.purdue.edu\/owl\/resource\/589\/02\/<\/a><\/p>\n Your paper consists of arguments in favor of your opinions or \npositions on the issues addressed by the guidelines; therefore, avoid \nthe following logical fallacies:<\/p>\n Purdue Online Writing Lab<\/em>. (n.d.). Logic in argumentative writing<\/em>. Retrieved from https:\/\/owl.english.purdue.edu\/owl\/resource\/659\/01\/<\/a><\/p>\n Your SLP should not simply be a list of facts. Take the facts you \nfind about the company, the charge, and the environments that the \ncompany faces, and explain how you think those facts will affect the \nfinancial future of the product or brand in your charge. The emphasis in \ngrading your paper will be on the breadth and depth of your discussion \nof each topic, critical thinking, the clarity of your discussion, and \nthe proper organization of the paper.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Module 2 – SLP PROMOTION MANAGEMENT & SWOT ANALYSIS Here is the brief overview of this cumulative Session Long Project (SLP). In this research project, you would work as a marketing consultant to develop a feasible marketing plan for your client. You would conduct both secondary research in SLP1 and SLP2 to glean the necessary […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_joinchat":[]},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/265370"}],"collection":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/comments?post=265370"}],"version-history":[{"count":0,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/265370\/revisions"}],"wp:attachment":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/media?parent=265370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/categories?post=265370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/tags?post=265370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}