Class 8 SWOT - Lecture notes 8 PDF

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Summary

It gives questions asked and required to answer from the lecture. In addition, the answers are attached. Professor Mee.
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1.Post a 2-3 line definition of SWOT without using the words…strengths, weaknesses, opportunities, or threats SWOT is a framework used to evaluate a company's competitive position and to develop strategic planning. SWOT analysis assesses internal and external factors, as well as current and future potential. 2.Use slide 3 to complete a SWOT Analysis on Beats (formerly by Dre…now by Apple). Strength … • Beats by Dre’s strength is its brand name ● Built under famous music producer Dr. Dre ● Using Monster's name to introduce Beats headphones (CP) ● Has great celebrity endorsement Weakness … • Price is a weakness for Beats by Dre because the headphones are manufactured with the best supplies and quality in mind, so the costs for the consumers will inevitably be high. There are other competitors with the same price and arguable better sound quality (BOSE) Opportunity … Using apple as a platform to push ahead. Focusing on distributing more deals within apple instead of relying on product endorsement through celebrities, thereby reducing advertising costs Threat … There are other noise-cancellation headphones made by Sony, Bose and etc. with the same quality also different style.

3.Then, review … https://workful.com/blog/tows-analysis/ •Use your Beats SWOT work and answer … –Both Strength based strategies. Strengths-Opportunities Strategies: Apple can help reduce the advertising costs solely by including offers with certain apple products as it is already doing. This can help Beats by Dre not only increase brand awareness globally, but also enable them to reduce spending on advertising: a big portion of their costs.

Strengths-Threats Strategies Beats has great brand image and more celebrity endorsement out of any of its competitors. Being acquired by Apple also pushed this image. To overcome less costly competitors in the market from stealing their audience, they should keep pursuing to work for brand global domination. They should look into famous people within K-pop and Latino-pop stars for celebrity endorsement in order to maximize brand awareness.

–Both Weakness based strategies Weaknesses-opportunities: Not being able to go out of their design and experiment with more designs disables them from advancing their product line farther. They should try to alter the design a bit, or change the materials alike Apple did with their new iphone to emulate the hype.

Weaknesses-Threats Strategies: Price is a weakness for Beats by Dre because the headphones are manufactured with the best supplies and quality in mind, so the costs for the consumers will inevitably be high. There are other competitors with the same price and arguable better sound quality (BOSE). To compete with price as a weakness they should introduce a product this affordable, or allow retailers to discount product....