MKT 205 SWOT Analysis

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Southern New Hampshire University *

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205

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Marketing

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Feb 20, 2024

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Module Six: SWOT Analysis Reflection Lucy Kelly Southern New Hampshire University MKT 205: Applied Marketing Strategies Christopher Alan February 13, 2024

I completed the SWOT analysis quiz. Which category (strengths, weaknesses, opportunities, or threats) of the analysis simulation was the most challenging for you? I found the weaknesses and threats the most difficult to distinguish. The first time I took the quiz, I got them confused because they seemed very similar to me. What have you now learned that will help you better identify items that belong in that category in the future? I have learned that weaknesses are internal factors, such as resources, equipment, funding, and budget. Threats are external factors that the company cannot control such as the economy, environment, relationships, and the state of the market (Schooley, 2024). Which category of SWOT analysis do you think marketers tend to overlook most often, and why? I think the category that markets overlook the most often are threats. Recognizing threats requires an analysis from people with a great deal of knowledge and expertise in the outside market, so unless the marketing group has a diverse group of analytical thinkers, this category can get overlooked (Kenton, 2023). What are at least two potential negative impacts of failing to consider the often-overlooked category you’ve just identified? Two potential negative impacts of overlooking threats are an unprepared marketing campaign and an inability to react in time to situations outside of the company’s control. If threats are

overlooked, then the business will not be adequately prepared to face the external forces it will encounter (Kenton, 2023). The business will also be more likely to fail because it will not be able to respond when disasters or setbacks happen due to these threats. References Kenton, W. (2023, October 30). SWOT analysis: How to with table and example . Investopedia. https://www.investopedia.com/terms/s/swot.asp Schooley, S. (2024, January 3). What is a SWOT analysis? how to use it for business . Business News Daily. https://www.businessnewsdaily.com/4245-swot-analysis.html

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MKT 205 SWOT Analysis

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