What does the company/product do that is not as good as the competition?
Using the same health care organization identified in the first assignment, complete a SWOT analysis on the organization over all based on information you gathered when completing the first assignment. Use the provided template and submit the completed version.
- SWOT Word Template [DOCX].
For more information on how to conduct a SWOT Analysis, you may want to watch the video, Conducting a SWOT Analysis.Be sure you SWOT Analysis includes each of the following:
Step 1: Strengths
First, identity one or two major competitors. Next, consider what does the company/product do better than (or at least equivalent to) the competition. This could be:
- Specific product attribute advantage.
- Brand perceived value.
- Customer service of company.
Step 2: Weaknesses
What does the company/product do that is not as good as the competition? How is this going to affect your customer’s sales?Thought needs to be given to how you can compensate for, or overcome these issues. What is the cost of overcoming these issues?Is it necessary to overcome the issues or are they something you can accept and deal with?
Step 3: Opportunities
What area of the market could you enter with some modifications to the product/service or company? The main elements here could include:
- Change size, shape, or color.
- Additional services.
- New packaging.
- Different distribution points.
- New promotional focus.
Step 4: Threats
What actions could threaten the product or standing in the market?
- New competitor entry.
- Major product failure.
- Reduction in promotional spend.
- Customer changes.
- Changes in the market.
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