The competition greatly affects the decisions that a company makes regarding how it will position itself in the marketplace. One tool that is commonly used to access the competitive situation and how the company differs is called a SWOT analysis. SWOT stands for strengths, weaknesses, opportunities, and threats. A good best practice is to complete a SWOT analysis for your product and that of the leading competitor. This comparison allows you to identify ways that your product can own a particular position in the marketplace.
Considering the food and beverage industry, select 1 fast-food restaurant. Pretend that you are the marketing manager of the company.
Complete the following tasks:
Create a SWOT analysis for the chosen company.
List 2–3 strengths, weaknesses, opportunities, and threats.
Under each chart, write a paragraph supporting your choices.
To summarize your assignment, please use the SWOT analysis for your company to discuss the company’s unique position in the marketplace.