Cours 3

Question 1

What does SWOT represent?

Answer 1

It is a model representing the strengths, weaknesses, opportunities, and threats of a company.

Question 2

What is a strength?

Answer 2

It is an important characteristic that an organization uses to attain its objectives, seize opportunities in its environment and protect itself from threats.

Question 3

What is a weakness?

Answer 3

It is a factor that can harm the organization by limiting its ability to achieve its objectives, either because it cannot seize opportunities that arise, or because it makes the company vulnerable to potential threats.

Question 4

What is the first method to analyze the internal environment?

Answer 4

It is to analyze each of the components of the internal environment and see how the organization is positioned relative to each of these components.

Question 5

What is the second method to analyze the internal environment?

Answer 5

It focuses on each of the primary and support activities that make up the value chain.

Question 6

What is the third method to analyze the internal environment?

Answer 6

It’s with doing benchmarking.

Question 7

What are the factors of the internal environment?

Answer 7

• Resources and core competencies (competencies) of the organization.
• Its current offer.
• Its prior performance.
• Its business relations.

Question 8

What are the resources and core competencies of the internal environment?

Answer 8

• Human resources (qualification, competencies, motivation, etc.)
• Financial resources (budget in marketing, division of the budget, etc.)
• Information resources (R&D)
• Resources linked to purchasing (company advantage)

Question 9

What is the current offer of the internal environment?

Answer 9

We need to make a list of the products and services and their performance to analyze demand.

Question 10

What are past performances in the internal environment?

Answer 10

Analyzing the business in the past will give insight into the possible strengths and weaknesses of the company.

Question 11

What are relations with business partners in the internal environment?

Answer 11

It is to evaluate suppliers, distributors, and other business partners to see what benefits/disadvantages they can bring to the company.

Question 12

What are the 2 main components of the value chain?

Answer 12

• Support activities
• Primary activities

Question 13

What are inbound logistic activities?

Answer 13

Activities related to the management of the inputs required for the production of the good or service offered in the market

Question 14

What are outbound logistic activities?

Answer 14

Activities that includes all aspects of distribution.

Question 15

What are the activities linked to after-sale service?

Answer 15

Activities that add value to the company’s offer and improve customer satisfaction and retention.

Question 16

What are the types of primary activities?

Answer 16

• Inbound logistic activities
• Activities linked to the operations
• Outbound logistic activities
• Activities related to marketing and sales (segmentation, targeting, positioning, and management of the marketing mix).
• Activities linked to after-sale service

Question 17

What are activities linked to the operation?

Answer 17

Activities that involve the transformation of inputs into products.

Question 18

What are the support activities?

Answer 18

These activities are the ones that are responsible for the strength ad the weaknesses of the company:
- Procurement
- Technology
- Human Resource Management
- Firm infrastructure

Question 19

What is benchmarking?

Answer 19

It is a continuous process that lets companies measure their performance in terms of products, services, and practices, against the most efficient competitors in their sector, or firms considered as leaders in other sections. The comparison can also be done internally based on best processes and practices within the other division of the organization.

Question 20

What is the first cell of the analytical matrix of strategic priorities?

Answer 20

These activities are undeniably a key strength; the organization should strive to maintain and reinforce them.

Question 21

What is the second cell of the analytical matrix of strategic priorities?

Answer 21

These activities are very important on the strategic level, but the organization does not perform as well as its main competitor. This situation points to weaknesses that the organization must correct and prioritize immediately. Failure to act may pose a real threat to the organization.

Question 22

What is the third cell of the analytical matrix of strategic priorities?

Answer 22

These activities require less attention because they are not as important and the organization does not perform them very efficiently. Therefore, developing them would be a poor allocation of resources.

Question 23

What is the fourth cell of the analytical matrix of strategic priorities?

Answer 23

These activities are unimportant strategically, but the organization performs them efficiently. This diagnosis indicates a poor allocation of resources, which should be reassessed by decision-makers.

Question 24

What are the 2 views to analyze the external environment?

Answer 24

• With a macro view
• With a micro view

Question 25

What is the microenvironment?

Answer 25

It is the established and potential competitors, substitute products, customers, and suppliers of the organization.

Question 26

What is the most challenging task to analyze the microenvironment?

Answer 26

It is to define the market and the sector.

Question 27

What are the 5 competitive strengths based on Porter's model?

Answer 27

- Competitive rivalry within an industry. - Bargaining power of suppliers. - Bargaining power of customers. - Threat of new entrants. - Threat of substitute products and services.

Question 28

What is the macroenvironment?

Answer 28

It includes all factors of the external environment that the organization cannot control, but that may affect supply and demand in a market. These factors may be political, economic, social, technological, ecological or legal.

Question 29

What are the components of the macroenvironment?

Answer 29

- Political environment - Economic environment - Social environment - Technological environment - Ecological environment - Legal environment

Question 30

What is the next step after analyzing the microenvironment?

Answer 30

It is to evaluate the duration and effect of those factors.

Question 31

What is a marketing infromation system (MIS)?

Answer 31

It is a set of resources and procedures for collecting and analyzing data from the organization and its environment, and transforming it into useful information that will be used in marketing decision-making.

Question 32

What does the information provided to the MIS should be?

Answer 32

- Pertinent and useful for addressing a marketing problem. - Reliable so that the manager can use it confidently. - Valid to avoid misleading the user.

Question 33

What are the component of the MIS?

Answer 33

- Internal data - Marketing reasearch - Marketing intelligence

Question 34

What are secondary data?

Answer 34

It is data collected by a third party according to a methodology not controlled by the analyst, but that the analyst can use during research projects.

Question 35

What is primary data?

Answer 35

It is original data collected according to a methodology designed by the analyst. Primary data can meet managers' specific information needs.

Question 36

What questions should you ask yourself before using secondary data?

Answer 36

- Who collected the data? - WHy was the data collected? - What data were collected and by whom? - When were the data collected? - How were the data collected? - Are the data consistent with other data?

Question 37

What is a marketing research?

Answer 37

It is the function that links the consumer, customer, and public to the maketer through information -- information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing action; monitor marketing performance; and improve understanding of marketing as a process.

Question 38

Give examples of strengths.

Answer 38

- Strong brand image - Sustainable competitive advantage - Strong relationships with suppliers - Loyal customer base

Question 39

Give examples of weaknesses.

Answer 39

- Lack of variety in products. - Dependence on a niche consumer segment. - Inability to attract graduates of top universities. - Poor social media presence

Question 40

Give examples of opportunities.

Answer 40

- Consumers are becoming less price sensitive in the product category. - Increasing trust in online retailers. - Increasing popularity of AI

Question 41

Give examples of threats.

Answer 41

- Research that links the product category to ADD. - Increasing raw material costs. - Increasing awareness of the environmental impact of the product category.