How can the strengths be used to minimize the threats the were identified?About Bench takes on the challenges of the Clothing industry
Answers
Answer:
Explanation:
While we’re exploring the idea of marketing threats on its own, here, it should be mentioned that the whole analysis of the threats in your market fits into a wider framework known as SWOT analysis. Before you can explore your ideas and options on how to overcome the threat and weakness that is facing you, you should understand what SWOT analysis is all about. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. It is a method by which a business can analyze its external environment in order to better plan its future strategies for getting some leeway in the market.
Strengths
These are the strengths of the business. They are what makes a business stand out from its competition and, ideally, what the business does best. A business might be particularly good at producing quality goods, providing excellent customer service, or stimulating employee morale like none of its competitors. Whatever the strength is, it should give the business some kind of competitive advantage in the marketplace.