University of Central Florida (UCF) MAR3611 Marketing Analysis and Research Methods Midterm Practice Exam

A SWOT analysis is a strategic planning tool that evaluates an organization's internal and external environments by identifying its strengths, weaknesses, opportunities, and threats. This framework helps businesses understand their competitive position and the various factors influencing their success or challenges.

Strengths refer to the internal resources and capabilities that give an organization an advantage over its competitors. Weaknesses are the internal limitations that may hinder the organization’s performance. Opportunities are external factors the organization can capitalize on for growth or improvement, while threats are external challenges that could negatively impact the organization’s performance.

By systematically assessing these four dimensions, businesses can make informed strategic decisions, develop effective marketing strategies, and identify areas for improvement and growth. This holistic approach is pivotal for maintaining a competitive edge and achieving long-term success in the market.