Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
To identify marketing trends in the industry
B
To understand internal capabilities and external market conditions
C
To create a financial forecast for the product
D
To comply with industry regulations
Understanding the Answer
Let's break down why this is correct
Answer
A business does a SWOT analysis before launching a new product to see how well the idea fits the market and the company’s strengths and weaknesses. By listing Strengths, Weaknesses, Opportunities, and Threats, the team can spot hidden risks and promising chances early. This helps them decide whether to tweak the product, adjust pricing, or shift the marketing plan so the launch is more likely to succeed. For example, a tech firm might discover that a new smartwatch has great design (strength) but faces stiff competition from established brands (threat), prompting them to focus on unique health features instead.
Detailed Explanation
A SWOT analysis looks at a company’s strengths and weaknesses inside the business and at opportunities and threats outside it. Other options are incorrect because The idea that SWOT is only about marketing trends is a misconception; Thinking SWOT creates a financial forecast is a misunderstanding.
Key Concepts
SWOT Analysis
Strategic Planning
Market Analysis
Topic
SWOT Analysis
Difficulty
easy level question
Cognitive Level
understand
Practice Similar Questions
Test your understanding with related questions
1
Question 1In conducting a SWOT analysis for a company, how can identifying weaknesses during an external analysis impact the business strategy?
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2
Question 2What is the primary reason a business would conduct a SWOT analysis before launching a new product?
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3
Question 3In a SWOT analysis, how should a company prioritize its strategies based on identified strengths and weaknesses?
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4
Question 4How can a company effectively use its SWOT analysis to formulate a competitive business strategy?
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5
Question 5In conducting a SWOT analysis for a company, how can identifying weaknesses during an external analysis impact the business strategy?
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6
Question 6What is the primary reason a business would conduct a SWOT analysis before launching a new product?
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Practice
7
Question 7In a SWOT analysis, how should a company prioritize its strategies based on identified strengths and weaknesses?
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Practice
8
Question 8How can a company effectively use its SWOT analysis to formulate a competitive business strategy?
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Practice
9
Question 9In conducting a SWOT analysis for a company, how can identifying weaknesses during an external analysis impact the business strategy?
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Practice
10
Question 10How can a company effectively use its SWOT analysis to formulate a competitive business strategy?
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Practice
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