Situational Analysis (HSC SSCE Business Studies): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What are the two main analytical tools used in situational analysis?
What are the two main analytical tools used in situational analysis?
SWOT analysis & product life cycle
Which factors in SWOT analysis are within the business's direct control?
Which factors in SWOT analysis are within the business's direct control?
Strengths & weaknesses (internal factors)
Which of these is an example of a strength in SWOT analysis?
Which of these is an example of a strength in SWOT analysis?
Skilled & motivated employees
What type of SWOT factor are outdated computer systems?
What type of SWOT factor are outdated computer systems?
Internal weakness
Which represents an opportunity rather than a threat in SWOT analysis?
Which represents an opportunity rather than a threat in SWOT analysis?
Potential new markets to enter
What are the four stages of the product life cycle in order?
What are the four stages of the product life cycle in order?
Introduction, growth, maturity, decline
What pricing strategy is often used during the introduction stage?
What pricing strategy is often used during the introduction stage?
Lower than competitors or premium pricing
Which stage of the product life cycle is often the most profitable?
Which stage of the product life cycle is often the most profitable?
Growth stage
What should promotion strategy emphasize during the maturity stage?
What should promotion strategy emphasize during the maturity stage?
Product's reliability & established reputation
Why do products enter the decline stage?
Why do products enter the decline stage?
Changing trends, tech advances, competition