r2 applied economics

• Marketing Research: It is a strategic planning technique to ASSES the internal and external factors as well as current and future potential.
• SWOT stand for: Strengths, Weaknesses, Opportunities, and Threats
• Strengths: It describes what an organization excels at and what separates it from the

  competition.
• Opportunities : It refers to favorable external factors that could give an organization a

  competitive advantage.
• SWOT (strengths, weaknesses, opportunities, and threats): analysis is aframework 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 (Grant, 2020).
• SWOT analysis: is a technique for assessing the performance, competition, risk, and potential of a business, as well as part of a business such as a product line or division, an industry, or other entity.
• Strengths: describe what an organization excels at and what separates it from the

  competition: a strong brand, loyal customer base, a strong balance sheet, unique

  technology, and more.
• Weaknesses: stop an organization from performing at its optimum level. There are

  areas where the business needs to improve: lack of raw materials, personnel attitude,

  poor location, and lack of budget for product promotion, among others.
• Opportunities: refer to favorable external factors that could give an organization a

  competitive advantage. Examples include larger market, company expansion, and

  new customer trends, among others.