Strategic Planning and SWOT Analysis

These flashcards cover key concepts and terminology related to strategic planning and SWOT analysis.

Value Proposition

States the specific benefits a product or service offers to a buyer, explaining why the offering is superior to competing products.

SWOT Analysis

A strategic planning tool that examines an organization’s internal strengths and weaknesses, as well as external opportunities and threats.

Mission Statement

A statement that defines the purpose of an organization and its reason for existence.

4P's

The four key areas of marketing: Product, Price, Promotion, and Place.

Competitive Analysis

The assessment of competitors to understand their strengths, weaknesses, and strategies.

Micro Environment

The immediate environment affecting a company, including competitors, suppliers, marketing intermediaries, public, company, and customers.

MACRO Environment

Broad external forces affecting an organization, including economic factors, demographic trends, social and cultural trends, and technological changes.

Tactics

Specific actions taken to execute strategies, such as promotions, advertising, and pricing.

Market Entry Strategies

Approaches companies use to enter foreign markets, including producing locally, owning facilities, and licensing operations.

BCG Matrix

A tool used to evaluate a company's product portfolio based on market share and market growth.