mrktg mgt - swot analysis
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8/6/2019 Mrktg Mgt - SWOT Analysis
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SWOT AnalysisA Planning and Organizing Tool
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STRENGTHS
OPPORTUNITIES THREATS
WEAKNESSES
I n t e r n a l o r i g i n
E x t e r n
a l o r
Helpful Harmful
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Strengths Weakness
Opportunities
Threats
SWOT
Strengths & Weakness are generally Internal factors that are within
control.
Opportunities & Threats are generally external issues that you can’t
control.
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Strengths
Consider from both the view of the firm
(product) as well as from customers andcompetitors.
Realistic and not modest
One’s strength is another’s weakness
Questions: What are firm’s or product’s advantages over
others?
What does it do well? What makes it stand outfrom your competitors?
Right strategy for the right products.
Superior customer service vs. competitors
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Weaknesses
Be truthful so that weaknesses may be
overcome as quickly as possible. Question:
What is done poorly?
What can be improved?
What should be avoided?
Some gaps in range for certain sectors.
Customer service staff need training.
Great Brand Image Products have required accreditations.
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High degree of customer satisfaction.
Good place to work Lower response time with efficient and
effective service.
Dedicated workforce aiming at making a long-term career in the field.
Processes and systems, etc
Management cover insufficient.
Sector growth is constrained by lowunemployment levels and competition for staff
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Opportunities & Threats
External in Nature
Represent characteristic of: The research environment
Growth in potential markets
Changes in the competitive, economic,
political/legal, technological, or socio – culturalenvironments
A threat to some is an opportunity to another.
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Questions
Opportunities:
Is there a product/service area that others havenot yet covered?
Are there emerging trends that fit with yourcompany’s strengths?
Threats: Are your competitors becoming stronger?
Are there emerging trends that amplify one of your
weaknesses?
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Opportunities
Profit margins will be good.
Could extend to overseas broadly. New specialist applications.
Could seek better customer deals.
Fast-track career development opportunitieson an industry-wide basis.
An applied research centre to createopportunities for developing techniques to
provide added-value services.
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Threats
Legislation could impact.
Great risk involved Very high competition prevailing in the
industry.
Vulnerable to reactive attack by majorcompetitors
Lack of infrastructure in rural areas couldconstrain investment.
High volume/low cost market is intenselycompetitive.
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IVR (Interactive Voice Response)
IVR product: Interactive technology that allows a computer to detect voice and
keypad inputs. Used extensively in telecommunications, but is also being introduced
into automobile systems for hands-free operation.
Current deployment in automobiles revolves around satellitenavigation, audio and mobile phone systems.
In telecommunications, IVR allows customers to access a company’sdatabase via a telephone touchtone keypad or by speech recognition,after which they can service their own enquiries by following theinstructions.
IVR systems can respond with pre-recorded or dynamically generatedaudio to further direct users on how to proceed.
IVR systems can be used to control almost any function where theinterface can be broken down into a series of simple menu choices.
In telecommunications applications, such as customer support lines,IVR systems generally scale well to handle large call volumes.
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Strength (IVR)
Technological capability: Speed, efficiency,
precision, power, etc. Stage of development relative to competitors:
Patent, prototype.
Characteristics of the lead researcher:
commercialization focus, reputation, othercomplimentary work.
Cost
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Weakness (IVR)
Technological weakness: lack of speed,
efficiency, precision or power. Lead researcher uninterested in
commercialization
Stage of development or uncertainty with
regard to technological capabilities. Cost
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Opportunity (IVR)
A new, developing or untapped market.
An old market needing technologicaladvances.
a recent technological development that canbe used as a catalyst for others (possibly
through licensing) Change in regulatory environment that
creates demand for new technology.
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Threat (IVR)
Other ongoing research or commercialization
efforts. A large existing competitor
Market volatility (because we are new marketentrants)
Market access (for suppliers and customers)
A competitor has a new, innovative product orservice
Competitors have superior access to channelsof distribution.
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Suggestions
SWOT Analysis can be very subjective
Two people rarely come-up with the samefinal version of SWOT. Be realistic; no need to inflate strengths or be
in denial about shortcomings
Distinguish between where your technology istoday and where it could be in the future.
Be specific. Avoid grey areas Always analyze in the context of your
competitive environment. Weaknesses should be looked at in order to
convert them into strengths.
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Try to match your strength with external
opportunities Threats should be converted into
opportunities
Strengths and opportunities should be
matched. Keep your SWOT short and simple.
Do not rely on it too much.
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Competitive Swot with ICICI Bank
OPPORTUNITIES
S – O Strategies Strength: Large Capital Base
Opportunity: Market Expansion
Strategy: Deep Penetration into Rural Market
W – O Strategies Weakness: Workforce Responsiveness
Opportunity: Outsourcing of non – core business Strategy: Outsource Customer Care & other E –
helps.
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THREATS
S – T Strategies Strength: Low operating costs
Threat: Increased competition from other Pvt. Banks
Strategy: Steps to ensure Loyalty by old customers.
W – T Strategies Weakness: Not equal to International Standards
Threat: Entry of many Foreign Banks
Strategy: Consider additional benefits.
Competitive Swot with ICICI Bank
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Swot Analysis – Indian Hotel Sector
Strengths India’s rich culture heritage Demand – Supply Gap Government Support
Weaknesses
Poor Support Infrastructure Opportunities
Rising Income Open Sky benefits
New Business Opportunities Threats
Event Risk Increasing Competition