Flashcards on Competitive Analysis and Market Positioning
Competitive Analysis and Market Positioning: A Student's Guide
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Strategic planning
21 cards
Card 1
Question: What does SWOT stand for in strategic planning?
Answer: Strengths, Weaknesses, Opportunities, and Threats.
Card 2
Question: Which parts of SWOT are internal factors and which are external?
Answer: Strengths and Weaknesses are internal; Opportunities and Threats are external.
Card 3
Question: Give three examples of internal Strengths a business might list in SWOT.
Answer: Strong brand reputation, innovative products, efficient processes.
Card 4
Question: Give three examples of internal Weaknesses a business might list in SWOT.
Answer: High costs, outdated technology, limited distribution.
Card 5
Question: Give three examples of external Opportunities a business could leverage.
Answer: Emerging markets, changing consumer preferences, new technologies.
Card 6
Question: Give three examples of external Threats that could harm a business.
Answer: New entrants, regulatory changes, economic downturns.
Card 7
Question: Why is SWOT analysis compared to a ‘strategic compass’?
Answer: Because it provides a comprehensive view of internal and external factors to guide strategic decisions and the competitive landscape.
Card 8
Question: How often should SWOT analysis be performed and why?
Answer: Regularly—because it’s an ongoing process to reassess environments and adapt strategies to stay ahead.
Card 9
Question: What is a positioning map used for in strategic planning?
Answer: To visually represent positions of products, services, or brands relative to competitors by plotting important attributes on axes to find differentiat
Card 10
Question: What should the two axes on a positioning map represent?
Answer: The most important factors for competitiveness in the market (e.g., customer satisfaction and price).